Blockchain in practice: its uses and limits

Financial services—in particular insurance—have been identified as the markets where blockchain has the highest potential. Insurance companies are well aware of this potential and are at the leading edge of research into the technology.

A survey conducted by MEDEF (France’s largest employers’ federation), in May 2017, shows that financial and insurance companies’ interest in this technology is very real:

/74% of decision makers have a strong interest in the technology

/76% want to pilot blockchain

In its functioning, it is very different to many traditional technologies; it requires new technical skills to be used to its full potential. Wavestone has analyzed blockchain and constructed POCs (Proofs of Concept) to better understand these completely new ideas, measure their potential, and assess their structural and applicational limits.