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Blockchain technology to transform insurance industry: Official

Posted On: Jan. 11, 2019 5:23 AM CST

Walid Al Saqqaf, founder of InsureBlocks, U.K.-based educational resource for blockchain in the insurance industry, said that blockchain technology will become the foundation for a new way of doing insurance business, Forbes reported. The decentralized nature of blockchain technology allows participants to share data securely and on a confidential basis, which enables customer-centric insurance products and streamlined services that are more efficient and provide greater value to clients.

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