Hackathon – Zurich
On the 19th and 20th June 2019, B3i welcomed testing groups from across the B3i community to join in their testing hackathon in Zurich, Switzerland.
Attendees tested a live version of B3i’s Property Catastrophe Excess of Loss Reinsurance application. Brokers, insurers and reinsurers were asked to setup real scenarios to stress test the application, whilst providing feedback to B3i’s developers. The network ran 43 nodes – 40 customer nodes (7 cedents, 12 brokers and 21 reinsurers) and 3 B3i (operator, mapping and notary nodes) to simulate life- like scenarios.
B3i Services AG is a startup formed to explore the potential of using Distributed Ledger Technologies within the re/insurance industry for the benefit of all stakeholders in the value chain.
The testing hackathon was an opportunity to:
During the testing hackathon, a total of 1,597 unique interactions were executed over the network, 564 transactions were notarised, and 270 contracts created. Over the course of 4 hours, attendees generated 1,033 messages during the negotiation process, which resulted in the signing of 41 contracts via the application.