Australia and New Zealand Banking Group ( ABS ) has teamed up with IBM to develop a blockchain solution for the insurance industry . New Zealand 's largest broker has completed a successful proof - of - concept using IBM blockchain software Hyperledger Fabric to enable transparent transaction processing between brokers and insurers .
Australia and New Zealand Banking Group (ANZ) has teamed up with IBM to develop a blockchain service for the insurance industry. New Zealand's largest bank has completed a successful proof-of-concept using IBM blockchain software Hyperledger Fabric to improve transparent payment reconciliation between brokers and insurers.