Driver’s License and Blockchain Please!
While Blockchain applications are still very new to the insurance industry, there are applications underway right now, according to
"
"Basically inside the mobile phone app is a plug-in, so that the two people involved in the accident can basically tap their phones together and in a matter of seconds it goes out to the Blockchain and it comes back down and says the other person has insurance and how much coverage they have," explained McDaniel.
Florida State Senator
"My sense is that this is the next wave in the insurance space for transactions and they (legislators) need to be able to understand and begin to find and contemplate some of the opportunities that come along with this new technology," he shared with McDaniel and podcast host
Brandes and McDaniel agreed that Blockchain's proof of insurance capability could be expanded to proof of driver licenses, which would assist law enforcement and
"These are exciting times indeed to look at technology that can help us work smarter – not harder – while providing enhanced consumer value and protection," said Miller.
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