4 March 2020
MIDAS is the first-ever industry-wide application of blockchain tech in the space of motor insurance in Asia.
The Smart Government Innovation Lab (the Lab) has announced that it is looking for start-ups, SMEs or other companies that are looking to acquire the updated version of a solution developed by one of its incubated firms in 2018.
The solution was developed by MIDAS, is a motor insurance Distributed Ledger Technology (DLT) based authentication system which provides motor policy document authenticity checking service.
It is fully supported by the Insurance Authority, and currently used by related departments of the Government, insurance companies, sub-agents and intermediaries and car owners.
The system has been implemented and employed with a fully proven record by multiple departments, NGO and private companies since early 2018.
Read more at OPEN GOV, here.