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Stock impact report

Point72 Ventures' Latest Bet Is Vehicle Titles on the Blockchain [BNN Bloomberg (Canada)]

W.R. Berkley Corporation (WRB) 
Last w.r. berkley corporation earnings: 4/21 04:10 pm Check Earnings Report
US:NYSE Investor Relations: wrberkley.com/investor-relations.aspx
Company Research Source: BNN Bloomberg
Champ Titles Inc. raised $18 million in a Series C funding round led by Point72 Ventures. Other investors include W.R. Berkley Corp. and EOS Venture Partners. Proceeds will be used to fund expansion, said Shane Bigelow, chief executive officer of Champ Titles. The Cleveland-based firm is working with several state governments to replace existing vehicle title registration and lien systems with a digital system featuring blockchain technology. The titles systems used by most of states take an average of 45 days to process a title, while Champ's system will reduce the process to less than a day, Bigelow said. There are other efforts to use the technology, with California testing a private blockchain last year. “The current title management process is largely paper-based, error-prone and requires significant time and effort from all parties involved,” said Adam Carson, partner at Point72 Ventures, in a statement. “We believe Champ Titles' platform offers a comprehensive and simplifi Show less Read more
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