A recent report from the Ethereum Enterprise Alliance (EEA) highlights how the Ethereum ecosystem has matured to a point where the network can be used by businesses to solve real-world problems. From supply chain management use cases to payment solutions utilized by companies like Visa and PayPal, the report demonstrates how the Ethereum network has grown to become one of the most valued public blockchains. Although notable, the EEA report also points out that the rapid growth of the Ethereum ecosystem has created a number of challenges for companies, specifically regarding energy consumption, scalability and privacy. For example, the document …

Chief Economic Advisor at financial services company Allianz, Mohamed El-Erian, told CNBC today, June 29, that he thinks Bitcoin (BTC) will eventually be treated as a store of value – and that he would consider buying if the price hits $5,000. While El-Erian reports currently not owning any Bitcoin, the influential economist said he would consider buying at the $5,000 price point, explaining that his reasoning as being based on a “gut feeling.” El-Erian dismissed Bitcoin’s skyrocketing prices in late 2017 as “pure speculation,” fuelled by people jumping on the crypto “bandwagon,” adding that: "I don't think you get all …

German insurance group Allianz and Deutsche Bank have partnered with Berlin-based car exchange Auto1 to offer auto financing using blockchain technology, Cointelegraph auf Deutsch reported today, June 7. The three partners have created a new company called “Auto1 Fintech” of which they together own more than 50 percent. The new venture will offer insurance products and loan refinancing for car dealerships that buy Auto1’s vehicles, said co-CEO Hakan Koc In an interview with Bloomberg. Auto1, which is backed by SoftBank Group Corp., is an online exchange for used cars that buys them from individuals and then resells them to dealerships. …

The Blockchain initiative B3i, run by several international insurance companies, has announced the formation of the startup B3i Service AG in Zurich, Cointelegraph auf Deutsch reported on Monday, March 26. The consortium aims to create a blockchain trading platform for a value-added chain of the entire insurance industry. The B3i initiative and the newly founded B3i service AG are both backed by the major reinsurers Munich Re and Swiss Re as well as other major insurance companies, such as Zurick, Allianz and Aegon. While the research initiative initially focused on a pilot project to explore the potential use cases of …