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

  • Yuri Molchan
    📰 News

    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


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, 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 has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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