We study blockchain adoption in insurance-reinsurance markets. Unlike standard operational costs related to claim processing that scale linearly with the volume of claims, blockchain operating costs per firm are independent of claim volume and decrease with the adoption rate since verification...

We study blockchain adoption in insurance-reinsurance markets. Unlike standard operational costs related to claim processing that scale linearly with the volume of claims, blockchain operating costs per firm are independent of claim volume and decrease with the adoption rate since verification...

In this paper, we construct a decentralized clearing mechanism which endogenously and automatically provides a claims resolution procedure. This mechanism can be used to clear a network of obligations through blockchain. In particular, we investigate default contagion in a network of smart...