The Inter-American Development Bank and Citi Innovation Labs have successfully completed a proof-of-concept to make cross-border payments from the U.S. to countries in Latin America and the Caribbean, using blockchain and tokenized money. The platform provided full traceability of the transactions, exchange rates, and fees on blockchain.
The Linux Foundation has partnered the American Association of Insurance Services (AAIS) to launch blockchain-powered OpenIDL insurance platform. The openIDL or Open Insurance Data Link platform and project, is a platform that will reduce the cost of regulatory reporting for insurance carriers, provide a standardized data repository for analytics and a connection point for third parties.