B3i’s first reinsurance product has already been market tested and is scheduled for launch in Q4 2018, so they need a structure and team to support that, hence the imminent incorporation. There are no signs of friction within B3i, but the incorporation stage was a critical juncture for the R3 CEV banking consortium.
R3 did a $107 million fundraising despite some significant players dropping out before incorporation: Goldman Sachs, JP Morgan, Morgan Stanley and Santander. In the case of Goldman Sachs, it was rumored that they weren’t happy being an equal shareholder and wanted more say. But all of them were also involved with other blockchain ventures, especially Digital Asset Holdings which uses Hyperledger rather than R3’s Corda technology.
For B3i, IBM is the solution provider, and the technology is Hyperledger Fabric. Like everyone in the sector, it is constantly monitoring all existing and emerging platforms.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
