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Uruguayan IT company pioneer in using blockchain technology in the region.

6/12/17

The Uruguayan IT company Infuy, which has more than 10 years of experience in the market, this year spun-off its company, creating Zircon Tech, in which they develop and provide consultancy in Blockchain technology, Smart Contracts and Big data.
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Currently the largest project they are working on is a usage-based motor insurance product using blockchain technology, which received funding from the ANII for its development.

 

The MVP (Minimum Viable Product) will be launched in December this year and the final product will be ready for the market in March 2018.

 

Insurance company customers will track how their users drive through a device that is installed in their vehicles or through a mobile app. All of this will go to a blockchain that will run a series of smart contracts that, after cleaning the data, will create a trip and send it to another smart contract to calculate a score, all of which will be done autonomously. This will be affected positively or negatively depending on whether the driver exceeded the speed limit, if he/she made new journeys, if he/she turned sharply, if he/she drove during rush hour, among other indicators that have been defined with functional experts in the field.

 

Each user will receive rewards to their policies depending on their own driving behaviour.

 

This project is being developed for local insurance companies as well as for the Latin American market (Argentina and Chile in the beginning) and for the United States.

 

Infuy also offers consulting services and has advised several companies in the region on this new technology, pioneering projects using blockchain, cognitive and IoT technologies.

 

Infuy is celebrating 10 years since its creation (in 2007), with clients distributed all over the world and with high references, providing cutting-edge technological solutions to its clients to help them grow and/or solve their daily operational problems.

 

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