Algorand enters the world of insurance
The main activity of Attestiv is to provide immutable information concerning digital data, which can be photos, videos, documents and more.
And that’s where Algorand’s blockchain comes in because this digital data is recorded in the blockchain provide an additional level of data changeability; moreover, the use of this blockchain leads to incredibly lower management costs compared to other blockchains or traditional methods.
Why exactly use the Algorand blockchain?
Nico Vekiarides Attestiv chose Algorand for its scalability, as well as for security and the economy, and actually said:
“We are delighted with our new proposal and have chosen Algorand for its scalability at the enterprise level, the security and the economy that meet the needs of our customers. For us, being able to build the new generation of insurance offerings on a solid, easy-to-use public blockchain platform offering a wide range of features for future improvements is a huge advantage. “
Attestiv’s technology is highly disruptive for the insurance world, confirmed the COO of Algorand, W. Sean Ford:
“Attestiv is revolutionizing the insurance industry by helping organizations of all kinds to build a relationship of trust and transform their business by leveraging our open and decentralized blockchain. We are delighted to welcome the Attestiv team to the Algorand ecosystem and help them transform the insurance sector. “
This is the first step in a sector that still has a lot to say: in fact, the world Insurance could greatly benefit from using blockchain to speed up wait times for price disbursements and reduce service management costs.
Algorand’s publication in the insurance world appeared first on The 100Count.