It doesn’t happen all that often a recent cryptocurrency ICO project announces a major partnership. Or at least none that actually makes a big impression on the market. iXledger, formerly known as InsureX, will collaborate with Gen Re, one of the world’s biggest reinsurance company. It will be interesting to see what this partnership brings to the table. It is evident Gen Re wants to focus on blockchain technology and transformative innovative solutions. iXledger provides exactly that functionality. An exciting future awaits for both companies, by the look of things.
Most people may recall the InsureX cryptocurrency ICO. This crowdsale took place not too long ago and successfully raised a lot of money. With the company’s focus on blockchain and transformative insurance solutions, they are a force to be reckoned with. Late last week, the company rebranded from InsureX to iXledger to avoid some confusion regarding their services. The former name hinted at how they provide insurance themselves, which is not the case. This change has already been recorded across most major exchanges and the token name remains unaffected.
A big Step Forward for iXledger
Under the new banner, iXledger is ready to announce their first major collaboration in the insurance sector. Gen Re is a well-known company all over the world. They provide reinsurance solutions to many different industries, including Life/Health and Property/Casualty. They also boast some of the more superior financial strength ratings from all major rating agencies. It is a more than valuable partner for iXledger, to say the least. It’s also good to see established entities acknowledge blockchain technology can be of great value to them.
With both companies having locations in London, this collaborative effort makes even more sense. Although it can be worthwhile to communicate with teams all over the world, close proximity makes things a lot easier. iXledger is headquartered in London and aims to expand into the US, Europe, and Asia. Gen Re has a London branch, but they are a global company in terms of products and services. With this new “alliance”, both companies can take their business model to the next level. An exciting development that will also validate the power of blockchain technology.
For the time being, the objective of this collaboration is to develop new use cases for iXledger technology. The initial projects will focus on the UK market primarily. There is potential to expand these services and transformative processes to other parts of the world as well. This is big news for both companies as well as everyone who invested in the IXT crowdsale not too long ago. Announcements like these show not all cryptocurrency ICOs try to sell hot air. A more than welcome change, to say the least.
Header image courtesy of Shutterstock
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
