IP Ventures, Hanwha Life tie up for regional blockchain network

IP Ventures, a local investment holding firm in the Philippines, and Hanwha Life Insurance have entered into a cooperation framework that seeks to put up a regional blockchain network.

The move is expected to improve efforts to increase the use of the emerging distributed ledger technology in the region, particularly in the Philippines.

According to the memorandum of understanding, the two parties seek to link their ecosystems to enable a bigger network that will tap the potential for opportunities in distributed ledger technology across industries.

“Blockchain technology has proven its vaunted capability to transform the fundamentals of existing work processes and business models,” said Jong Choon-park, head of fintech at Hanwha Life.

“Hanwha is looking forward to further advance the long-term integration of blockchain solutions in digital business processes in the region and we are proud to partner with IP Ventures in our initiative.”

The post IP Ventures, Hanwha Life tie up for regional blockchain network appeared first on Insurance Asia News.

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