Initiate Disruption before 'IT' does Blockchain approach differs fundamentally at the data distribution policy level and is a digitized decentralized mode of storing records of master or transaction data by inserting any data uniquely timestamped in that chain as a block which evolves into a series of chains that are publicly legible. VassuTech's Blockchain approach identifies potential areas of blockchain adoption in the Enterprise and their extended ecosystems and delivers solutions.
Macro Benefits of implementing blockchain include security with immutable data, scaled-up Trust levels due to the distributed nature of storage and efficiency in inter-Entity Transactions. Centralizing Data no doubt is inviting trouble: all eggs in one basket, vulnerable to breaches and attacks. Blockchain decentralizes data along with making it tamper resistant with encryption. The wider and more distributed a network is, the more secure it becomes adding more monitoring. Most transactions today are focused on CX and increasingly happening on ecosystem driven platforms, thus often need verification of other party details, instant access to previous transaction history in that chain makes blockchain an expediting enabler. Blockchain Platform records and stores every transaction that occurs in the network, which eliminates the need for dependence on third parties for record verification. The access of shared records in inter-entity transactions amongst entities beyond business boundaries into extended ecosystems make it an indispensable platform adding to efficiency coupled with immutable data. The delays in data verification are plugged in efficiently which matter more when multiple parties are involved in raising claims and getting settlements.
VassuTech's footprint and experience in insurance domain in the North America make it ideal service provider to the Insurance consortia who pursue blockchain solutions. Having successfully delivered many capabilities and solutions to the Insurance businesses and equipped with a successful track record of architecting their information landscapes VassuTech is in ideal position to develop, test and deploy disruptive blockchain solutions in the insurance sector apart from others.