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Alliance is testing a Token System for cross-border payments

The German insurance giant Allianz is developing according to Reports, a Blockchain Ecosystem. Customers should be able to pay, therefore, soon insurance contri

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Alliance is testing a Token System for cross-border payments

The German insurance giant Allianz is developing according to Reports, a Blockchain Ecosystem. Customers should be able to pay, therefore, soon insurance contributions via the Token. The System is primarily designed to facilitate international payments.

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The Blockchain-Hype is a thing of the past. Gone are the times when Long Island Ice Tea alone, by means of renaming in Long Island Blockchain exorbitant share-price gains could retract. Nevertheless, the topic of Enterprise Blockchain Solutions is far from the table.

This is also the current research activities of the German insurance company Allianz to prove. Because, as the business magazine Forbes reported, the company is working on a block chain-based Token-Ecosystem, with the help of which such payments across national borders in the future, much more efficient to go ahead. Compared to Forbes, the press office of the insurer, confirmed that the platform approaches its completion.

Alliance explores the Blockchain technology to facilitate cross-border payments for their customers. A project team is already in an advanced stage of development for a Token-based electronic payment system [...].

Except for the fact that it's supposed to be in the project to a Token-based payment system, little is known so far. The Forbes report says the company Adjoint entrusted to build the Blockchain infrastructure for the world's largest insurance group. Thereafter, the developer is likely to set up for the project, a separate Blockchain, instead of using one of the popular public block chains such as Hyper Ledger Fabric.

According to the press of being place currently on the verge of, in the test phase.

The basic core infrastructure has been built and tested. The next step will be to test money transfers with a limited extent and for a short period of time. We want to check whether the operation can be guaranteed.

Not the first Blockchain-attempt of the Alliance

In terms of Blockchain-adaptation, the insurer may rely, however, on a certain experience. As we reported back in July of 2017, the Indian Alliance, a subsidiary of Bajaj, which will also reduce the via Blockchain processing times for compensation claims significantly.

The insurance policy "Travel Ezee", also a Bajaj product, customer, moreover, a block chain-based System. With its help, you can make about claims, the attack in the case of flight failures, claims.

The entire travel insurance policy is completed on a Smart Contract. In the case of a flight delay the claims process is initiated automatically, and met,

it is on the part of the Alliance.

to be it's own Token into the corporate Ecosystem to integrate seems to be a popular Trick. In addition to J. P. Morgan, especially Facebook has provided with a Libra recently caused a stir. The retail giant Walmart has filed a Patent for a "group currency".

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