The Blockchain Insurance Industry Initiative (B3i) was formed in late 2016 as a collaboration of insurers and reinsurers to explore the potential of using Distributed Ledger Technologies within the industry for the benefit of all stakeholders in the value chain.
The success of the B3i Initiative is manifested in the incorporation of B3i Services AG on 23rd March 2018 in Zurich. This new company will take forward the original aims and objectives of the B3i Initiative to realise the immense potential of blockchain to positively transform the industry and benefit customers.
The formation and incorporation of B3i Services AG represents a significant milestone for the members of B3i. As an independent legal entity with its own capital and Intellectual Property, B3i Services AG can streamline the development, testing and commercialisation of blockchain solutions.