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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

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