Sharing ideas was a core focus at the SAP Next-Gen Blockchain Boot Camp in Zurich. Participants took part in workshops to design and discuss application scenarios for different industries. The bottom line? The new distributed ledger technology adds value to almost any industry.
Photo: Courtesy SAP Switzerland
The participants arrived at boot camp in Switzerland to thick snowfall, even at the end of April. For them, these snow was simply erratic weather conditions, but for farmers and wine and fruit growers, the arrival of such wintery conditions in spring can threaten their livelihood. Fortunately, many are insured against potential crop failure. And even more fortunate are those whose insurance runs on blockchain.
Thanks to blockchain technology, through which encrypted data can be securely exchanged, the insurer can automatically review a farmer’s claim using defined parameters — for instance, more days of frost in April — and release the payment accordingly.
Read more about
- Blockchain: Less Administration, Greater Customer Focus
- Successful Innovation in Banking
- New Decentralized Business Model: Uber and Blockchain
- Will Blockchain Replace ERP Systems?
here: http://news.sap.com/blockchain-boot-camp/