Why an Asian Insurance Giant is Building a Blockchain Sports Ecosystem

Fubon

A Taiwanese insurance company is building a network of blockchain protocols to help its customers reduce the price they pay for coverage.

The one-stop shop, built by Taipei-based Fubon Life Insurance, is designed to incentivize healthy behavior and reward customers with lower premiums. But while the project is still in its early days, it had its first live test last month.

The first blockchain implementation is Bravelog, a private version of the ethereum blockchain custom, built to record race and biometric data. It was tested at the Garmin Lava Dapeng Bay Triathlon in Taiwan on 7th January.

Based on the success of the event, Fubon has shared exclusively with CoinDesk its plans to scale that blockchain project beyond its current scope.

The head of the Fubon’s Taipei FinTech office, Chris Tsai, told CoinDesk:

“Bravelog, in the future, wants to become a complete sports ecosystem with ticketing, registration and payments services.”

The inaugural race took place with Fubon’s Bravelog blockchain serving as a common protocol on which participants ranging from athletes, equipment providers and event organizers could interact.

In total, 349 people participated in the event, including the blockchain’s developer, Alex Liu, CEO of the Amis blockchain consortium.

Liu and the other

Read more ... source: CoinDesk

Let's block ads! (Why?)

Powered by Bitcoin Central