R3 uses blockchain technology to help UK depositors recover unclaimed pensions

According to CoinDesk, blockchain technology company R3 said recently that it will build new blockchain-based identification technology for pension companies, which will help UK savers recover some of their "lost" $ 48 billion in pensions . According to Abbas Ali, head of R3's digital identity unit, pension providers will use R3's technology to launch their own solutions in 2020. More than 33 million people in the United Kingdom receive pensions, but a study by consulting firm Profile Pensions this year showed that 24% of respondents said they may have forgotten their retirement benefits. It is estimated that more than 1.6 million pensions have been lost across the UK, with an average value of £ 23,000 each, and there are £ 37 billion (about $ 47.8 billion) of unclaimed pensions.