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Could InsureTech look at Crypto Currency as a premium payment alternative?

Shekhar Sahu
・1 min read

Link: https://blog.joshsoftware.com/2018/11/22/could-insuretech-look-at-crypto-currency-as-a-premium-payment-alternative/

The blockchain truly has shaped up into one of the biggest technological disruptions of the decade. A digitized, distributed and secure ledger that guarantees immutable, transparent transactions, it gives both parties involved a proper breakdown for each transaction, thus ensuring credibility throughout the entire process. The most popular implementation of the blockchain are cryptocurrencies, the most well-known of these cryptocurrencies being the Bitcoin. A few problems relating to cryptocurrencies have been brought to light recently, like slow performance and processing of the public blockchain, excessive price volatility, energy consumption while mining and scams involving fraudulent ICOs (Initial Coin Offering). However, I think that all these problems can be solved with time. With increasing awareness, the cryptocurrency regulations will fall into place and as the security around blackchains becomes robust, these issues should subside.

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