Collaboration with young start-up Lenster Smart Technologies successfully completed

Published on 26/04/2018

The Luxembourg Institute of Science and Technology (LIST) and the young start-up Lenster Smart Technologies joined forces on a half-year collaborative project entitled: "BCIIC - Blockchain Improved Insurance Contracts", that has now been successfully completed. The main goal of the project was to investigate the feasibility of Blockchain-enhanced insurance and data sharing contracts for the development of a new product. The product consisted on a platform to manage the setup, processing and maintenance of insurance contracts with the purpose of simplifying the way insurance companies interact with their customers and third party data providers while managing private data with cutting-edger technology. 

Automatization of a legal smart contract

Lenster Smart Technologies main objective of designing a platform to easily enrich any contract with smart clauses related to the consents for personal data usage was accomplished. In this way, the new solution is able to automate the connection of the legal “smart” contract to any source of personal data and to enable more convenience and service personalisation. The also solution meets the requirements of the new European Data Protection Regulation and reduces legal risks with a controlled but fluid personal data circulation. Benefices are cost reduction, increased efficiency but also new levels of automation. 

LIST expertise in Security and Privacy 

Within the project, partners implemented a technology-agnostic approach, by identifying business requirements and the relevant use case scenarios in the first phase, without already taking decisions on certain technologies. On base of these findings, LIST identified all functional needs of a solution, resulting in a proposal of the overall functional architecture. In a second phase, a technological feasibility study was performed by scientists at LIST, giving Lenster Smart Technologies the chance to select the technological concept, that fits best to their needs and their business-development strategy.

LIST's findings showed, that Lenster Smart Technologies' product can, in fact, benefit from using a Hyperledger Fabric Blockchain framework to increase the coding and development speed with a reasonable effort and therefore supporting Lenster Smart Technologies to have a faster time-to-market. Additionally, the Security and Privacy experts of LIST identified a set of new Blockchain-related research questions during the project that they will investigate in the near future.

Towards a proof of concept 

After LIST’s findings and recommendations, Lenster Smart Technologies has started to develop a first prototype in the past weeks,. The next step is to find interested stakeholders and investors to finance a proof of concept implementation and finally to market the new product.

For more information contact the project leader Dr. rer. nat. Uwe Roth or Lenster Smart Technologies at

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