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Every industry, including insurance, stands to undergo major disruptions with the shift to distributed ledger technology. (Shutterstock) Every industry, including insurance, stands to undergo major disruptions with the shift to distributed ledger technology. (Shutterstock)

While few industries are feeling the full disruptive power of blockchain yet, there’s little doubt that this much-hyped technology has the potential to fundamentally change the global economy. In fact, worldwide spending on blockchain technology is forecast to more than double this year and reach $9.7 billion by 2021.

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