Insureblocks Blockchain & Smart Contracts In Insurance

Sarah Downy is the Managing Director of FINPRO and co-leads the DART, Digital Asset Risk Transfer, team. In this podcast Sarah shares her insights of the crypto insurance market for 2019 and 2020 along for the need for more education of insurers on the opportunity to serve the need of companies who build blockchain technology and of companies who hold or interact with digital assets.   What is blockchain? As an insurance person, Sarah defines blockchain technology as a technology that stores digital information on a public database with a number of interesting features such as immutability, transparency and traceability. The way blockchain works is that it stores transactions on blocks that are verified and assigned a hash. She also notes that insurers often confuse blockchain technology with crypto and illicit behaviour. A perception that Sarah and her team are working very hard to change.   Overview of the Crypto Insurance Market in 2019 Sarah, describes the crypto insurance market in 2019 as very hesita