When it comes to blockchain consortia, it appears most people can only name one or two. The R3 consortium is the best-known name right now, although there is also a consortium of Japanese banks exploring blockchain technology. Over in Europe, there is the B3i consortium, which stands for Blockchain Insurance Industry Initiative. It’s an interesting creation, considering Europe isn’t necessarily a hotbed for either blockchain or cryptocurrency right now. The B3I Blockchain Consortium in a Nutshell Although most people will always doubt the concept of blockchain consortia working on private ledgers, there are some valid opportunities waiting to be explored.