Share this article
Linux Foundation, Insurance Group Roll Out Platform to Cut Costs Using DLT
Besides cutting costs, the project aims to provide a standardized data repository for insurance analytics.
Updated Sep 14, 2021, 12:39 p.m. Published Apr 13, 2021, 9:13 a.m.
Make us preferred on Google
The Linux Foundation and the American Association of Insurance Services (AAIS) have teamed up to create a platform for insurance carriers using distributed ledger technology (DLT).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to a press release on Monday, the Open Insurance Data Link (openIDL) platform seeks to provide a standardized data repository to ease regulatory reporting and reduce costs associated.
The move will aim to propel a common distributed ledger for sharing information and business processes within the insurance environment. Alongside cutting costs, the project aims to provide a "connection point" for third parties to deliver applications to its members, according to the release.
Some of the world's largest insurance companies including The Hanover and Selective Insurance Group as well as technology and service providers Chainyard, KatRisk and MOBI will also be involved, the foundation said.
The foundation said the project's first use case will tackle regulatory reporting within the Property and Casualty (P&C) insurance industry also known as general insurance. Sectors beyond P&C are expected to be supported "in the coming months."
See also: NYDIG Raises $100M From Insurance Giants in Latest Round
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
Top Stories
