Using JPMorgan’s Quorum, State Farm And USAA Put Insurance Claims On The Blockchain

With development starting back in early 2018, the blockchain network built by State Farm and USAA on JPMorgan’s private version of Ethereum will allow the two companies to pay each other’s insurance claims by 2020. With the blockchain netting out the claim balances and facilitating payments, the two insurers hope to add more companies to their system in the future.