UK Insurer Comes Up With The First Corp Pension Plan On Blockchain

British insurer Legal & General has teamed up with Amazon to establish what the first blockchain for corporate pension deals.

Thomas Olunloyo, CEO of Legal & General Reinsurance (photo):

Blockchain suits “the long-term nature of annuities business as it allows data and transactions to be signed, recorded and maintained in a permanent and secure nature over the lifetime of these contracts, which can span over 50 years.”

Only few blockchain projects in insurance and blockchain have been deployed at any scale so far, as questions remain over regulation, reliability and cost.

An interesting example is a blockchain based pension plan in development by a community in Kolionovo (Russia). An interview with the team behind has been agreed upon with our Chief Editor.

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