The Hong Kong Insurers Federation (HKFI), a self-regulating organization for the financial industry, is developing a blockchain platform for city auto insurance.
Speaking at HKFI’s annual reception, Hong Kong’s finance services secretary and Treasury Bureau’s James Lau doubled the belief that blockchain technology will play a crucial role in improving the financial sector. Insurance in Hong Kong.
While acknowledging the advantage of adopting distributed notebook technology for the financial sector, Lau also pointed out that the city’s insurance industry has recorded technological advances in this area.
“The use of Blockchain technology can increase business productivity and enable insurers to access the right and timely information easily and securely, and I am pleased to see that HKFI has developed a platform for auto insurance.” The insurance sector continues to allocate more resources to adopt Insurtech will. ”
Founded in 1988, HKFI is a self-regulating organization aimed at fighting fraud and providing professional behavior in the insurance industry.
Although the government officials have not yet elaborated on the insurance plan, their comments provide information on the continued printing of government agencies and financial sectors in relation to the development of the block transport.
As reported by CoinDesk, the Secretary observes a previous reminder that China has reinforced the potential benefits of block chain technology in the implementation of the Belt and Road Initiative.