07
Jul
2016

Bitcoin, Blockchain and Insurance: New Tech, Old Rules

FC&S Legal

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PUBLISHED ON: July 7, 2016

Bitcoin is a kind of digital cash. Transactions are fast and free (if a trading platform is not used). They can take place globally in close to real time. No bank? No problem. Bitcoin is "peer-to-peer": no middlemen are needed to process payments. Transactions are recorded publicly on the "blockchain," which is like a distributed electronic ledger.