According to a report on ZDNet today, the former Australian Minister for Broadband, Communications and the Digital Economy, Stephen Conroy, has been appointed as the chairman of the advisory board of blockchain insurance firm, Day by Day.
The Melbourne-based startup is focused on using blockchain technology to provide an asset registry management platform that will be used to make insurance claims process faster and more efficient.
Day by Day revealed that Conroy’s appointment would be an added advantage to them because he has good knowledge and experience in the development of digital technologies.
Conroy, while responding to the development, noted that before this time, the insurance industry had received several reports of fraudulent claims from both clients and insurers.
He added that the integration of an asset registry management system, as seen on Day By Day’s platform, would be a “win-win for customers and the insurance industry.”
Conroy’s Career Life
As per the report, Conroy had been a senate member under the Australian Labor Party from 1996–2016.
Before his resignation from the senate, he was appointed communication minister under former Prime Minister Julia Gillard, and he subsequently resigned in June 2013 when Gillard was removed from office.
During his reign as communication minister, Conroy recorded a massive milestone, including establishing Australia’s National Broadband Network (NBN), which saw the transition of all television broadcasts in the country to digital.
In 2009, he tried to introduce a bill dubbed “mandatory internet filtering legislation” into the nation’s Broadcasting Services Act, a move that would have prompted internet service providers (ISPs) to block uncategorized contents from foreign servers.
However, the move did not come to fruition as the minister dumped the idea due to massive backlash. After Conroy’s resignation from the Australian senate in 2016, he was appointed to head Responsible Wagering Australia, a lobbying firm for the Australian-licensed online gambling industry. However, reports suggested that he would resign before the year ends to focus on his public affairs consultancy “TG Endeavour.”
In addition to the announcement, Day By Day is reportedly planning to expand its operation to other regions, and the firm is looking toward conducting fundraising that would cater to its expansion needs.
Meanwhile, Coinfomania reported in September that Coinbase vice president, Dorothy DeWitt was appointed by the United States Commodity Futures Trading Commission (CFTC), to supervise its Division of Market Oversight (DMO).
Source: Coinfo mania