Blockchain could prove the most important technological innovation in a generation, surpassing the social and economic impact of the internet, according to Jason Potts, professor of economics, finance and marketing at Melbourne’s RMIT University.

AIA Hong Kong, a local subsidiary of pan-Asian life insurer AIA Group Limited, has announced it has developed and deployed a blockchain-enabled bancassurance network.

Singapore and Hong Kong’s chief financial regulators have announced they will jointly develop a “world first” cross-border trade platform powered by blockchain.

Japan’s Mizuho Bank and Fujitsu have jointly completed an operational trial of blockchain technology, as distributed ledgers continue to gain traction across Asia Pacific.

Accenture is launching a specialised practice for banks and brokers to help them implement blockchain technology and distributed ledger solutions.