The Institutes Announced as Founding Member of Enterprise Ethereum Alliance | The Institutes

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The Institutes Announced as Founding Member of Enterprise Ethereum Alliance

MALVERN, Pa.—The Institutes, the leading insurance education provider for the risk management and property-casualty insurance industry, announced today their involvement as a founding member of the recently formed Enterprise Ethereum Alliance.

Ethereum is one of the most widely used blockchain-based technologies, facilitating more efficient and secure transactions without centralized intermediation. Blockchain technology has the potential to disrupt industries by creating new ways to provide services. For the risk and insurance industry, blockchain holds significant potential for better serving policyholders while still reducing costs.

Enterprise Ethereum Alliance aims to create protocols, standards and governance models for the use of private Ethereum networks and will provide resources for businesses to learn about the groundbreaking technology behind Ethereum. The alliance will focus its research and development on privacy, confidentiality, scalability, integration and security and is opening discussion with parties interested in membership.

Already included in this initiative are some of the largest corporations, technology vendors and leading blockchain startups, such as Accenture, Banco Santander, BP, BlockApps, BNY Mellon, CME Group, ConsenSys, IC3, Intel, J.P. Morgan, Microsoft and Nuco.

“As more and more organizations capitalize on the benefits of blockchain, there becomes an increasing need for a framework to ensure accountability around application portability and interoperability,” said Peter L. Miller, CPCU, president and CEO of The Institutes. “The Ethereum Alliance creates the opportunity for key enterprises from diverse sectors around the globe to define a roadmap that will allow Ethereum to advance enterprise applications.”

The Institutes’ Assistant Vice President of Enterprise Research, Patrick Schmid, PhD, will be participating on a panel discussing Ethereum for Finance at the Enterprise Ethereum Alliance Summit held on February 28, 2017 in Brooklyn, NY.