VeChain Partners With Peoples Insurance Company of China Hoping to Transform Insurance Industry

Peoples Insurance Company of China (PICC) is one of the largest players on the global field of insurance works with the VeChain crypto platform to research the DLT

Sun, 2/09/2018 - 11:38

VeChain Partners With Peoples Insurance Company of China Hoping to Transform Insurance Industry

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Peoples Insurance Company of China (PICC) is one of the largest players on the global field of insurance, owning assets that cost around $126 bln now works with the VeChain crypto platform to research the DLT and utilize it for its own needs.

PICC reckons that the distributed ledger (DLT) can help it bring down the time required for performing operations, reduce the amount of paperwork, etc.

PICC also hopes to use VeChain to implement DLT contracts, so as to make the reimbursement process for highly-profitable companies quicker.

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About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.