One of the world’s largest insurance blockchain Blockchain consortia of the Insurance Industry Initiative (B3i), according to the Swiss registry of subjects of economic activity, last month raised $16 million thus bringing the total funding to $22 million, more than half of the amount – of 8.27 million Swiss francs or $to 8.34 million received in cash and the rest as convertible debt.

However, the company had a number of changes in the Board of Directors. So, it left the financial Director of reinsurance company Swiss Re Gerhard Lohmann (Gerhard Lohmann), and his place was taken by Theo Bachmann (Theo Bachmann), working in the same company in the position of managing Director and head of center of property insurance and from accidents. The only company that is not a shareholder B3i and became the governing body of the consortium in the person of its head of Daniel Kermia (Daniel Quermia), was a Spanish insurance company MAPFRE RE.

Recall that in the summer of last year, B3i, decided to abandon the use of the platform Hyperledger Fabric in favor of the Corda from R3 and go from a paper to a system of smart contracts.