INSURANCE INDUSTRY GRAPPLES WITH BITCOIN’S PAST AND POTENTIAL

As the world becomes more digital and virtual by the hour, some of the oldest professional industries struggle to keep up with the state of technology in today’s world. Insurance providers have always had to have a personal touch, but as computers continue to take over consumer use more and more, they need to adapt to the changes in the market. How people pay is also changing, for people and businesses, with Bitcoin digital currency. This was a key topic of discussion at the Risk and Insurance Management Society (RIMS) 2015 Conference in New Orleans last week.
Insurance Industry sees The Dark Past of Bitcoin As the saying goes, the night is darkest just before the dawn, and Bitcoin has seen many dark times over the last eighteen months, from Mt. Gox to Silk Road. This brings pause to many companies in the insurance industry who see the power of what Bitcoin can do, but fear its potential for calamity in the wrong hands. Who knows if the dark days of Bitcoin are truly behind it? Yet, it also attracts the optimistic opportunists, and it is still growing and attracting venture capital and global interest.

This post was published at Crypto Coins News on 05/05/2015.