Blockchain and cryptography have seen significant adoption around the world, and while still in early stages, it has started to make an impact in a few industries such as finance, gaming, and metaverses. There are now organizations providing insurance services on blockchain. Although this is limited to protection against financial losses in markets, the sheer adoption has sparked interest for other insurance use cases and some startups have already started experimenting in the spaceThe presenters will first introduce basic concepts of the blockchain supported by a demo, while explaining how cryptography and distributed ledger technology (DLT) is used to make it work. We will further introduce consensus mechanisms so that participants understand how decentralized blockchains are governed without a centralized party. The session will then shift focus to the broader market and different uses of blockchain focusing on the insurance space, covering both the current and potential future use cases.
By attending the session, you will:
- Understand the basics of how blockchain and cryptography work,
- Have a better understanding of the broad categories of the crypto market answering the question, 'why are there 10,000 crypto currencies and how do I navigate these?'
- Understand how blockchain plays a role in insurance and why insurance is important to the blockchain ecosystem.