Blockchain, as an emerging technology, is essentially a shared database in which\ndata or information is stored with features of â??unforgeableâ?, â??whole-process\ntraceableâ?, â??transparentâ? and â??collective maintenanceâ?. Based on these characteristics,\nblockchain technology has a broad prospect of application in\nthe insurance industry because it has laid a solid foundation of â??trustâ?, and\ncreated a reliable cooperation mechanism. At present, blockchain technology\nhas been widely used in the fields of transportation, logistics, trade and charity.\nIt has also attracted the attention of banking, insurance and other financial\nindustries. The application of blockchain in other industries has been discussed\nin many other publications already, but it has not been systematically\ndiscussed in the insurance industry. This paper will make people have a deeper\nunderstanding of â??blockchain + insuranceâ? by introducing the basic concepts\nand technological advantages of blockchain technology, reviewing the\nresearches and applications of blockchain by the insurance companies, and\npointing out several key problems of applying blockchain technology to the\ninsurance industry. Finally, the article will make predictions about the trend\nof development of applying blockchain technology in the insurance industry.
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