Nephila and ART pilot 'smart contracts' with blockchain tech

Nephila and fronting partner Allianz Risk Transfer (ART) have
successfully piloted the use of blockchain technology for
transacting a catastrophe swap.
Blockchain-based contracts are executed automatically when a set
of agreed conditions are met.
The companies said in an announcement yesterday (15 June) that
the test demonstrated the contracts could significantly cut delays
in cat bond payments, reducing transaction time from weeks and
months to hours and days.
These "smart contracts" also had t