Legal & General has partnered with Amazon to leverage its blockchain technology for pension dealings


  • Amazon’s blockchain technology is going to be utiltized by Legal & General for pension deals.
  • Legal & General will are set to leverage the Amazon Managed Blockchain for its bulk annuity transactions.

 

Online retail giant Amazon has partnered with Legal & General, United Kingdom-based insurance agency for the creation of a blockchain system. It will be used for managing corporate pension deals, according to reports by Reuters.

The insurance giant, Legal & General will reportedly leverage the Amazon Managed Blockchain for its bulk annuity transactions. A process for when companies transfer their pension schemes to Legal & General for insurance.

CEO of Legal & General Reinsurance Thomas Olunloyo commented on how a blockchain solution is a fit for the company:

 it allows data and transactions to be signed, recorded and maintained in a permanent and secure nature over the lifetime of these contracts, which can span over 50 years.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Market share war shakes crypto market

Ethereum confirms the market's weakness in the short term as it closed yesterday at the price level of $195.5. Closing below the $200 level with such a small margin shows that the bulls are not in the business of defending the price structure to keep it up.

More Ethereum News

BCH/USD drawing nigh to $230 seller congestion

Bitcoin Cash has bounced off the support zone between $220 and $225. This cryptocurrency like many others, extended the bearish action during the weekend session. 

More Bitcoin Cash News

ETH/USD makes its way above $200, the recovery is slow

Ethereum bears took ETH price below psychological $200 on Monday, but a fresh buying interest located around this level helped to push the price back inside the previous consolidation range.

More Ethereum News

ADA/USD may retreat to $0.0450 before another bullish wave

Cardano (ADA) hit the intraday low of $0.0509 during early Asian hours and recovered to $0.0532 by press time. Despite the recovery, the coin is still nearly 7% lower from this time on Sunday.

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast

BTC

ETH

XRP