B3i, the world’s largest independent blockchain insurance consortium, have announced that they have selected Corda’s blockchain for future app building projects, a media release reported today. The blockchain, built by R3CEV L.L.C. ‘…offers the optimal solution in the market to deliver the B3i roadmap and our industrywide insurance blockchain ecosystem’, according to Markus Tradt, the CTO of B3i. Part of the media release read:
B3i Services AG completed a detailed review of the available open source blockchain technologies against the B3i enterprise platform strategy, focusing on critical success factors of data privacy, scalability, interoperability and developer productivity. Following extensive evaluation, B3i concluded that the Corda platform offers the best blockchain solution available, providing a solid foundation for B3i to efficiently deliver business value to its clients.
B3i – short for the Blockchain Insurance Industry Initiative – is a consortium-turned independent company founded by Allianz, Aegon and Swiss Re. Back when they made the decision to become an independent, their statement read that ‘the transition of B3i from consortium to independent company is a concrete step forward to realizing the enormous potential of blockchain for the insurance industry’. Now, their concrete selection of platform has brought them a step closer to providing a range of blockchain products.
Meanwhile, R3’s CTO Richard Gendal Brown, said:
We are delighted that B3i has selected Corda as its preferred platform and our engineering team is looking forward to working closely with the excellent team at B3i to bring their innovative solutions to market.
At this time, there is no further information on when the first product will be released on the Corda blockchain, but stay tuned to Bitrazzi for more details as we get them.