Wanxiang Blockchain and the PlatON global computing network have together launched an open source blockchain infrastructure PlatONE. The platform uses cryptographic algorithms and privacy-preserving computing to provide an ecosystem for blockchain application development.
Recently, in China Minsheng Life became a partner on the platform which enabled it to develop a suite of decentralised applications, which includes internal digital insurance record-keeping system and an unspent transaction output (UTXO) model. The insurer is expected to continue its digital transformation journey with the platform.
The main USP of the platform is its open source capability allowing carrier to leverage both a decentralised network structure and access easy-to-use toolsets, which help them to implement, operate, and maintain blockchain-based corporate solutions.