British insurer Legal & General has teamed up with Amazon to establish what it s...
FILE PHOTO: Attendees at Amazon.com Inc annual cloud computing conference walk past the Amazon Web Services logo in Las Vegas, Nevada, U.S., November 30, 2017. REUTERS/Salvador Rodriguez
The insurer said it would use a managed blockchain system launched by Amazon Web Services to handle bulk annuities, which involve Legal & General taking over companies’ defined benefit or final salary pension schemes. Blockchain was originally conceived 10 years ago as the basis for the cryptocurrency bitcoin. It is a shared database that can securely process and settle transactions without the need for third-party checks.
But few projects have been deployed at any scale so far, as questions remain over regulation, reliability and cost.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Supreme Court rebuffs bid to expand legal protections for gun silencersThe U.S. Supreme Court on Monday turned away a bid to widen legal protections fo...
Read more »
Release of Mueller evidence to Congress is 'potential nightmare' for Trump, says Fox News legal analyst'It is almost unheard of for the Justice Department to release raw evidence to another entity so that the Justice Department can be second guessed,' Andrew Napolitano said.
Read more »
WhatsApp threatens legal action against public claims of messaging abusesWhatsApp has threatened legal action against those who publicly claim the abilit...
Read more »
U.S. Supreme Court rebuffs bid to expand legal protections for gun silencersThe U.S. Supreme Court on Monday turned away a bid to widen legal protections for gun silencers in a case involving two Kansas men convicted for failing to register the devices as required by federal law, as the justices again sidestepped a chance to rule on the scope of the right to bear arms. The
Read more »
US House approves faster court enforcement of Trump admin subpoenasDemocrats who control the House approved the measure authorising House committees to file lawsuits in federal court seeking orders from judges to compel officials to cooperate with congressional inquiries.
Read more »
'Our bodies, our choice': N.Y. bill would decriminalize sex workOne state lawmaker said sex workers are 'having to face stigma, discrimination and abuse in trying to advocate for their rights to be treated with dignity.'
Read more »