US Treasury Insurance Advisors to Discuss Blockchain

Insurance market advisors to the US Treasury Department are set to discuss blockchain tech this week.

AccessTimeIconJan 4, 2017 at 4:59 p.m. UTC
Updated Sep 11, 2021 at 12:58 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

An advisory council to the US Treasury Department focused on the insurance market will discuss blockchain tech at a meeting later this week.

Set for tomorrow afternoon in Washington, DC, the Federal Advisory Committee on Insurance (FACI) will discuss a range of issues, according to publicly available materials, including the use of the tech in the US insurance market.

The government said of the hearing:

“In this meeting, the Committee will discuss a number of issues, including blockchain technology in the insurance sector, the changing auto safety landscape, and an overview of insurance fraud.”

The meeting is expected to be held at 1 PM ET. A livestream of the event will be broadcast here.

of the advisory council include representatives from a number of state insurance regulators in the US as well as private enterprises, including USAA, which began offering an integration with Coinbase to its user base in late 2015.

The meeting comes as insurers worldwide have moved to explore products and services utilizing the tech.

In October, a group of European insurance and reinsurance firms moved to establish an industry body aimed at collaboratively testing use cases. The following month, a UK-based insurance trade group launched a blockchain research effort of its own

Major insurers like John Hancock, MetLife and Allianz, among others, have moved to test the tech on their own as well.

Image Credit: bakdc / Shutterstock.com

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.