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Blockchain has also arrived in the event business.

This will change the role of ticket selling. Fans still face the problem that tickets are often sold out very fast. Later, the tickets reappear for a multiple price on resale platforms. The Blockchain technology now offers great advantages for fans. For example, concert visitors can spontaneously book VIP tickets on-site, pass it on, or order additional services. All this in an unimaginable speed - in real time. Concert operators also can use the technology to see exactly what their customers visited and consumed at the three-day festival. The visitor guidance can also be extended by reward systems. There are also crypto examples from the music industry. The Icelandic indie icon „Björk“ is a pioneer in blockchain-based distribution. Fans can pay for her new album with cryptocurrencies and will be rewarded with audio coins. Blockchain ensures full security for these transactions and requires no intermediaries such as music publishers, labels and distributors to sell songs.

(CF ed. / news agencies /Tiroler Tageszeitung)

One of the biggest spendings in US healthcare processes is the continuous tracking of the flow of services and money: The enormous complexity and distributed nature of our health system means that billions of USD are expended annually trying to understand which patient received what service from which service provider and by whose authority. Disputes inevitably arise, and both the insurance industry and the providers of healthcare then expend a great deal of additional time and money adjudicating these disagreements. Because of its independent architecture, blockchain could potentially form the foundation of a high integrity tracking capability that is updated in a near instantaneous manner. This would lead to many less errors (with both financial and patient care upsides) and substantially reduce fraud. Given the potential here, this might generate enough interest to attract the investment and intellectual commitment required to solve this complex technical challenge.

The Blockchain offers the possibility for trust to be “integrated” into the process of collaborative Research&Development in a way not possible before. More trust means more collaboration and, in the end, more productivity.

(CF ed. / news agencies / Forbes)

 

 

"B3i", an initiative where insurers have joined forces to explore the blockchain technology, now has established "B3i Service AG" - a small insurer based in Zurich to offer contracts based on the Blockchain. At the moment the company is specialized for corporate clients - but in the future end consumers could also benefit from the products. Also other insurance companies are experimenting with the blockchain. For example the start-up "Etherisc" launched an insurance policy against late or canceled flights based entirely on Blockchain technology in October 2017.

"B3i" wants to offer an easy and quick way to conclude insurances against damage by weather effects. Not only contracts can to be concluded, but also damages can be settled and paid out. The blockchain initiative was launched in 2016 and has now 39 members - including Allianz, Munich Re, Hannover Rück and Generali.

(CF ed. / news agencies)

 

 

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1220 Vienna, Austria

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