"Blockchain will transform the world" … "Distributed Ledger Technology represents the biggest change to the business world since the adoption of double-entry accounting centuries ago" … "Every industry will experience upheaval as blockchain becomes the foundation of the new business environment."
|Hype vs. reality?
This type of hyperbole is common today when discussing blockchain technology. The key questions for business leaders are about how much is hype and how much is reality. Insurance executives are asking, "What's the real story?"
SMA recently asked insurance executives for their views on blockchain to determine the level of awareness in the industry and their expectations about business use and value. The title of a new SMA Research Brief provides the main storyline, "Blockchain in Insurance: Awareness Grows, Activity Still Limited."
Compared to just one year ago, awareness has increased significantly. This is not surprising since blockchain articles, videos, and speeches are a dime a dozen these days.
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