Long Finance: Launch Of Research Project To Develop A Cyber-Catastrophe - Insurance Linked Security Prototype On A Smart Ledger (aka Blockchain)

Long Finance’s Distributed Futures research programme is pleased to announce the launch of a research project to develop a Cyber-Catastrophe - Insurance Linked Security prototype on a smart ledger (aka blockchain). The project is part of a series of projects in the Distributed Futures research programme, which has significant sponsorship from the Cardano Foundation.

The trial will build a cyber-catastrophe insurance-linked security (ILS) that polls networks in a geographical area to determine whether they are functioning correctly. The polling system will trigger a contract payment if a threshold of networks are not functioning. This trigger could, in turn, be linked to a tradable security. The pilot is scheduled to complete in Spring 2018. Long Finance are already working with one reinsurer on the project and are interested in being contacted by other relevant parties.

James Pitcher, Distributed Futures’ Programme Director at Z/Yen Group, commented “We expect to see greater emphasis on cyber security, as more and more organisations use Smart Ledgers and associated technologies”.