South Korean Insurance coverage Large to Use Blockchain Tech for Cell Messages

Main South Korean insurance coverage agency KB Insurance policy to implement a blockchain-enabled cell message supply system for its purchasers.

In keeping with a June 9 report by trade information outlet Ledger Insights, KB will use the system collectively developed with native telecommunication agency KT Corp beginning subsequent month.

The service will at first ship cost and termination notices to auto insurance coverage clients, however the agency plans to broaden it to all its clients. The aim is to scale back mailing prices and non-delivery of notifications.

Blockchain ensures the message supply

The brand new message supply answer makes use of blockchain to ship insurance coverage coverage modifications or pending cost notifications and be sure that the person receives the message. Info despatched utilizing the system shall be logged with a blockchain certification system of the Korea Web & Safety Company.

The blockchain logging course of offers the message supply system the identical authorized validity held by registered mail and permits the insurer to show that the notification reached the client.

Customers can obtain notifications after they opted-in for the service. Notifications will be acquired with out putting in a further software and observe the person even after they modify their tackle and cell quantity. The service shall be solely obtainable to KT, SK Telecom and LG U+ cell service clients.

Blockchain adoption transferring ahead

New functions of blockchain expertise make the information more and more typically. As Cointelegraph reported earlier today, a Japanese blockchain agency just lately introduced a blockchain-enabled cell software for shareholder voting.

Not too long ago, Microsoft launched the beta version of its decentralized id answer based mostly on Bitcoin’s (BTC) blockchain.

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