Insureblocks Blockchain & Smart Contracts In Insurance

For this week's episode, we’re once again connecting with Christopher G. McDaniel the President of The Institute RiskStream Collaborative. In this episode, Christopher gives us an insight into the concept called risk singularity. We discuss the 3 phases that he envisions will preclude the risk singularity and what it means for insurers.   https://youtu.be/WMqMUPkpVfM   What is blockchain? Christopher defines blockchain as a mechanism where information can be shared between different parties who without this mechanism wouldn’t normally trust each other. What this gives each of these parties is a trusted mechanism. Once widespread, they’ll be no need for information to travel back and forth between different parties. Through this mechanism, everybody in the network will now have the data ubiquitously. When this data no longer needs to be transacted between different parties continually it opens up new possibilities for insurers.   The Institute RiskStream Collaborative The Institute RiskStream Collaborati