Insureblocks Blockchain & Smart Contracts In Insurance

On the 15th of May of this year, law firm Clyde & Co launched an off-the-shelf connected parametric insurance contract for use by insurers. In this episode, Walid catches up with Lee Bacon, partner at Clyde & Co and co-founder of Clyde Code. Lee makes a repeat appearance to discuss connected contracts and Clyde Code, which is a consultancy unit focused on blockchain and smart contracts within Clyde & Co.  Lee highlights that insurance is a core focus of Clyde & Co and together with other partners at the firm, he began exploring blockchain in late 2015.   What is blockchain? From a non-technical perspective, blockchain is a form of distributed ledger technology (DLT) which depending on its guises can be either a public permission-based system or for enterprises as a private kind of ring-fence system. It’s an enabling technology which enables parties to have access to the same data at the same time with an element of trust that the data is of the type and format that all parties can take comfort that they hav