The largest in Italy insurance the company began to issue digital guarantees on a blockchain with the assistance of the Central Bank

At the beginning of August, 2020 the Reale Mutua insurance company, largest in Italy, announced that it will issue digital guarantees on a blockchain with assistance of the Central Bank (Banca d’Italia). Within the Fideiussioni Digitali project of 30 banks and organizations cooperate with the Research center of technologies (CeTIF), payment network SIA and SIAChain, technology company Reply and the insurance IVASS regulator.

The state departments or construction contracts often require guarantees of payments or guarantees if the supplier will not fulfill the obligations. However in the sector of the guarantee in Italy fraud reigns. Reliability of guarantees should prove a blockchain system and interfere with swindlers. For example, the first warranty pledge released by Reale Mutua confirms that the Milano Progetti company will really complete the meliorative works according to the contract signed with Milan municipality.

Reale Mutua began to issue digital guarantees on a blockchain with the assistance of the Central Bank

In the project the corporate blockchain is used Corda from R3. It should be noted that it is not the only project such - Accenture and the insurer Zurich started a similar initiative, and one more project for development of the real estate was begun in Australia with participation of Scentre Group companies IBM, ANZ, Commonwealth Bank and Westpac.

В Fideiussioni Digitali участвуют следующие организации: Acquedotto Pugliese, ANCE Lombardia, ANCI Digitale, ANCI Lombardia, AON, ASMEL, Assolombarda, Banca Mediolanum, Banca Monte dei Paschi di Siena, Banca Popolare di Puglia e Basilicata, Banca Popolare di Sondrio, Banco BPM, Cattolica Assicurazioni, CEDACRI, Bari Municipality, Milan Municipality, Confindustria Digitale, CONSIP, HERA, ICCREA Banca, InfoCamere, Innolva, Intesa Sanpaolo, Poste Italiane, Reale Group, ARIA – Regione Lombardia, Sicily Region, Roma Capitale (муниципалитет Рима), Terna и VIVIgas energia. Major Italian insurer launches digital guarantee on blockchain supported by central bank^[1]

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