Blockchain Projects are Going Mainstream; but They Must Deliver Real-World Benefits
The corner office is embracing blockchain. As it matures beyond a murky cryptocurrency system that only startups dared to chase, the secure data management technology is becoming a real-world solution for business giants. Apple, China Construction Bank Corp., Royal Dutch Shell and Toyota Motor Corp. are among the slew of organizations looking to move the needle by launching blockchain projects. In August, one of Japan’s largest insurance companies, Tokio Marine and Nichido Fire Insurance, completed a nine-month pilot project that put paperwork for marine cargo insurance claims on a blockchain. The joint venture with NTT Data will help deliver faster insurance payouts by collecting and sharing information promptly and accurately.