Captive Insurance Blockchain Pilot Planned By Vermont State Agencies

Blockchain, News | January 15, 2019 By:

Two government agencies in the US state of Vermont have joined forces to explore the use of blockchain technology in the digital record-keeping practices of the captive insurance industry.

Last week, the Secretary of State’s Office (SoS) and Department of Financial Regulation (DFR) signed a memorandum of understanding (MOU) to launch a blockchain pilot in order to identify areas where the use of blockchain technology in regulatory and other government business may increase data security and reduce costs for residents and those doing business in Vermont.