LiquidX Joins RiskStream Collaborative™ Blockchain Working Group to Streamline Surety Bonds Power of Attorney Verification
- Blockchain , Trade Finance , Insurance
- 16.12.2021 04:40 pm
LiquidX, the global fintech solutions provider for working capital, trade finance, and trade credit insurance, has joined The Institutes RiskStream Collaborative™, the risk management and insurance industry’s largest enterprise-level blockchain consortium, and will participate in a working group serving the surety industry. The aim of the working group is to streamline and digitize the power of attorney registration and verification process using blockchain technology.
“Digitizing the po-wer of attorney repository is an ideal use case for blockchain technology and will bring needed efficiencies to the surety industry through validation and visibility for all parties, said Todd Lynady, Managing Director and Global Head of Insurance at LiquidX. “LiquidX is already successfully applying blockchain technology to trade credit insurance and looking forward to leveraging this experience to work with the consortium as we collectively digitize the surety industry.”
The RiskStream Collaborative is a joint initiative with The Institutes and the Surety Bond trade associations of The International Credit Insurance & Surety Association (ICISA), the Surety & Fidelity Association of America (SFAA), the National Association of Surety Bond Producers (NASBP), the Surety Association of Canada (SAC), and the Pan American Surety Association (PASA).