According to the news from Cailian Press, Shanghai Insurance Exchange (SIE) and the Insurance Asset Management Association of China (IAMAC) will cooperate in boosting the application of blockchain in funds management and pension industries. In terms of insurance funds management, in response to issues such as non-transparent survival period, fake contract information and asymmetric information on the part of relevant business participants, the two sides will provide administrators, investors and regulators with transparent and true information and enhance the trust different trading chain participants have in underlying assets by: moving underlying product information and trading information onto the chain, enhancing the efficiency of data flow and monitoring the true conditions of assets in real time. In terms of pension, the insurance exchange chain could break the information isolation state existing among multiple entities (including trustees, account management institutions, custodian institutions and clients), energetically enhancing operation efficiency and making historical annuity information traceable while fully protecting the sensitive information of different participants.
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