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Blockchain in the Insurance Market is projected to grow up to USD 1,628 million by 2027 growing at a CAGR of 85.4% during the forecasting period 2021-2027. Blockchain is a data structure that allows for the creation of a digital ledger of transactions and the ability to share this ledger among a distributed network of computers, according to its most basic definition.
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Blockchain technology in insurance refers to a decentralised, shared digital distributed ledger that records and provides a historical record of a person's transactions, such as claims, and thus assists insurers in preventing, detecting, and countering frauds.
Blockchain technology continues to be a popular topic in both the business world and the news media. Many people have heard of blockchain, but they may not be aware of what it is in its most basic form..
This report offers the major market player’s profiles, such as Applied Blockchain (UK), Algorythmix (India), Auxesis Group (India), AWS (US), Bitfury (US), BitPay (US), BlockCypher (US), BTL Group (Canada), Cambridge Blockchain (US), ChainThat (UK), Circle (US), ConsenSys (US), Digital Asset Holdings (US), Earthport (UK), Everledger (UK), Factom (US), Guardtime (Estonia), IBM (US), iXLedger (UK), Microsoft (US), Oracle (US).
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