Insureblocks Blockchain & Smart Contracts In Insurance

Blockchain in the London Market For this 3rd episode I had the pleasure of chatting to Steve Webb, Partner at PWC and UK Financial Services lead for blockchain. Steve has been leading PWC's financial service practice around blockchain for over two and a half years now. In this episode we explore some of the work Steve has done with the London Market Target Operating Model (TOM) and some of the other blockchain work PWC has done in the insurance space.   2 minute definition of blockchain Essentially at its heart blockchain is a mechanism for distributing data amongst multiple parties and where all parties have their own copy of the data and can see the same information. Updates to the data are managed through cryptographic computer driven consensus between computers on the network rather than through any individual parties acting as a central authority for managing and updating the data. In addition, it has elements of audit history, so you can see all of the updates that have happened on the chain. It works