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A network of 150 insurance brokers joins the Spanish blockchain consortium Alastria

Alastria is a Spanish consortium comprising of more than 70 companies working on establishing a cross-sectoral platform based on the blockchain technology. The consortium has announced the joining of E2K, a major network of insurance brokers from Spain.

Alastria was launched in October this year and many companies have joined the consortium in the meantime. The newest expansion is very important because E2K is an important and large network of insurance brokers, with more than 150 members.

E2K said Alastria is the first national and regulated consortium based on the blockchain technology and an important milestone for the insurance sector, because it guarantees the security and integrity of data. Moreover, the access and management of data is transparent, which is another important aspect of the platform.

The main objective of Alastria is to develop a platform which would serve to accelerate the digital transformation. The insurance brokers could make use of the benefits such as creating new products and implement smart contracts.

Some of the companies that joined the Alastris consortium are Cepsa, BBVA, CaixaBank, Indra, Everis, IBM, Sanitas, Microsoft, RTVE, Allianz, AXA, Mapfre, Santander and many others.

According to Capital Madrid, a publication from Spain, Alastria could be listed on stock exchange to collect funds and it is currently in the process of transforming its statutes in order to be listed on the alternative stock market, i.e. the Mercado Alternativo Bursátil (MAB) as soon as possible.

Furthermore, Capital Madrid says there is no unanimity in the consortium and that some members want to launch an ICO (Initial Coin Offering), because it is more suitable bearing in mind the mission and vision of the project. The members in favor of launching an ICO are convinced this proposition would raise millions of euros through a crowdfunding campaign. These funds would be used for further development of the platform.

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