Express

Chinese Insurance Firms Use Blockchain Technology To Process Coronavirus Claims

Ramsey Baker

Summary: Chinese insurance firms are utilizing blockchain technology to manage coronavirus-related claims amid the outbreak, according to a report from local news outlet South China Morning Post on Feb. 9. Xiang Hu Bao, the China-based online mutual aid platform, added the coronavirus to the illnesses eligible for the maximum one-time payout of around $14,300. The platform ...

Chinese insurance firms are utilizing blockchain technology to manage coronavirus-related claims amid the outbreak, according to a report from local news outlet South China Morning Post on Feb. 9.

Xiang Hu Bao, the China-based online mutual aid platform, added the coronavirus to the illnesses eligible for the maximum one-time payout of around $14,300. The platform uses blockchain to prevent fraud and allows for faster claim processing.

By Ramsey Baker

Last Update:

Tags: ,,
Link: Chinese Insurance Firms Use Blockchain Technology To Process Coronavirus Claims   [Copy]
Next:

Related Articles

  • Onchain Fatigue: The Harsh Reality Driving Users Away from Web3 2 days ago
  • Are Airdrops Overfarmed? State of the Market 3 days ago
  • Autonomous Worlds: The Ultimate Goal of Blockchain? 5 days ago
  • Have Cosmos and Polkadot Been Replaced? The Future of ATOM and DOT 7 days ago
  • Polygon AggLayer: Uniting Modular and Monolithic Blockchain Architectures 8 days ago

    • You need to login to comment.