Today The Institutes RiskBlock Alliance announced it will chair
ACORD‘s new Blockchain Standards Project Group. RiskBlock is one of the major blockchain insurance consortia with 31 members.
“Insurance companies are eager to leverage the benefits that blockchain can bring to their business but still need standards and guidelines to support implementation,” said Christopher McDaniel, president of the RiskBlock Alliance.
ACORD is the standards-setting body for the insurance sector. Most major insurance blockchain projects have a stated aim of adopting ACORD standards. The Blockchain Standards Project Group will draw up standards and roadmaps to aid insurers in implementing blockchain technologies.
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