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EY Launch Blockchain Insurance for the Shipping Industry with Maersk Onboard

25th May 201825th May 2018 BCTechreportAP Moller-Maersk, bctech, bctech report, blockchain, blockchain commercial insurance, blockchain financial product, blockchain insurance, blockchain insurance for shipping, blockchain news, blockchain stock exchange, blockchain supply chain, blockchain technology, blockchain technology news, blockchain value, corda, corda blockchain insurance, digital insurance shipping, distributed ledger technology, enterprise blockchain, ernst and young blockchain, EY blockchain, finance, financial blockchain technology, financial blockchain technology applications, fintech, hyperledger fabric, ledger technology, maersk blockchain, maersk blockchain insurance, maersk digital process, microsoft blockchain insurance, Microsoft's Azure blockchain, r3

In a major group development, Ernst and Young goes live with Maersk on it’s blockchain insurance platform ‘Insurwave’ for the global shipping industry, which utilises Microsoft’s Azure cloud platform and R3’s open-source Corda. Using distributed ledger technology it streamlines and automates insurance transactions. The group expects Insurwave to execute over half a million automated blockchain transactions in its first year of commercial use, helping to manage risk for more than 1,000 vessels.