Yesterday The Institutes Riskstream Collaborative unveiled the third iteration of its blockchain platform Canopy. The previous version of Canopy supported the R3 Corda enterprise blockchain. By transitioning to the Kaleido platform, the insurance blockchain consortium retains Corda and adds support for multiple flavors of Enterprise Ethereum, including Quorum and Hyperledger Besu. While not a current offering, Kaleido’s GitHub code repository also shows activity on Hyperledger Fabric.
But the biggest benefit of Canopy 3.0 is the hoped for ability to move faster, which is especially important given the acceleration of digital transformation driven by COVID-19.
RiskStream unveiled its initial policy blockchain that used Ethereum in December 2017 before switching to Corda. However, its first use case, the First Notice of Loss (FNOL) for auto accidents, is not yet live with current plans to go into shadow production in Q3 of this year.
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