R3 Demonstrates Blockchain Technology in Bermuda

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R3 brought a blockchain investigate to Bermuda to denote how distributed bill record could renovate a approach a island republic and a businesses incorporated there operate.

Brokers, insurers, reinsurers and financial services organizations listened Tim Grant, arch executive officer of R3 Lab and Research Centre, and consultant Todd Bault, pronounce about distributed ledgers during a ILS Bermuda Convergence discussion in early November, according to The Royal Gazette.

R3 gave a real-time proof of blockchain technology, as well. “We had brokers, underwriters, Bank of New York Mellon, who are a large trustee, a Bermuda Monetary Authority, people from underwriting to operations on a reinsurance side, and guys from a advisory companies,” pronounced Stafford Lowe, conduct of tellurian collateral government during R3. “We wanted to take an attention detriment guaranty on a genuine ledger. So we had a attorney screen, an underwriter screen, and a trustee’s screen. We followed it by a routine and saw a numbers change on everyone’s screen. This was a illustration of 3 people’s really apart views on things. But a many important

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