Tom and PwC create blockchain payment prototype

The London market Target Operating Model (Tom) and PwC have
launched a blockchain prototype aimed at demonstrating the
technology's use in improving payment processes.
The proof of concept was run over a six-week period and focused
on the interactions between London market parties involved in a
claims process, including third party administrators, claims
approvers and brokers.
Smart contracts were used as part of the trial, which PwC said
resulted in reduced administrative costs and burdens as w