One of the comments you sometimes hear about blockchain in China is there’s plenty activity, but not so many consortia. In the West IBM and R3 are the most prominent ringleaders for enterprise blockchain consortia. ZhongAn Technology is taking up the baton in China.
The Chinese tech company is a subsidiary of
ZhongAn Insurance which was jointly set up by Ant Financial (part of Alibaba), Tencent, and PingAn. The
insurer is known for its billions of microinsurance policies. The technology subsidiary has placed all these policies on a blockchain.
Some of ZhongAn Technology’s initiatives aim at extending the parent’s insurance reach. For example, two months ago the company announced it entered into data sharing agreements with more than a hundred
Chinese hospitals to automate insurance claims. A month later it revealed the completion a Proof of Concept for a
reinsurance network with state-owned China Re Group.
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