International Journal of Global Energy Markets and Finance
ISSN (Print): ISSN Pending ISSN (Online): ISSN Pending Website: http://www.sciepub.com/journal/ijgefm Editor-in-chief: Abdelkader Derbali
Open Access
Journal Browser
Go
International Journal of Global Energy Markets and Finance. 2019, 2(1), 16-21
DOI: 10.12691/ijgefm-2-1-4
Open AccessCase Report

Blockchain and Insurance: Disproportionate Hope or New Era?

Abdelkader Derbali1, 2, , Mohamed Bechir Chenguel2, Lamia Jamel3, 4, Meriem Jouirou2 and Monia Ben Ltaifa5

1Department of Finance, Community College, Taibah University, Medinah, Saudi Arabia

2Department Finance, Higher Institute of Informatics and Management of Kairouan, Kairouan University, Kairouan, Tunisia

3Department of Economic, College of Business Administration, Taibah University, Medinah, Saudi Arabia

4Department of Economic, Faculty of Economic Sciences and Management of Sousse, Sousse University, Sousse, Tunisia

5Department of Economic, Faculty of Economic Sciences and Management of Sfax, Sfax University, Sfax, Tunisia

Pub. Date: October 08, 2019

Cite this paper:
Abdelkader Derbali, Mohamed Bechir Chenguel, Lamia Jamel, Meriem Jouirou and Monia Ben Ltaifa. Blockchain and Insurance: Disproportionate Hope or New Era?. International Journal of Global Energy Markets and Finance. 2019; 2(1):16-21. doi: 10.12691/ijgefm-2-1-4

Abstract

In this article, we examine the importance of the blockchain on the insurance industry. Then, we show that there are strengths of the blockchain for the case of the insurance market that are, the security it brings, the speed of transaction it offers and the fact of being able to exist without intermediaries. Given these contributions, the blockchain presents economic and ecological difficulties, human difficulties and societal difficulties. In addition, the blockchain has cultural, technical and safety limits of the so-called blockchain technology.

Keywords:
blockchain cryptocurrency bitcoin insurance

Creative CommonsThis work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

References:

[1]  Reyna, A., Martín, C., Chen, J., Soler, E., & Díaz, M. (2018). On blockchain and its integration with IoT. Challenges and opportunities. Future Generation Computer Systems, Vol. 88, pp. 173-190.
 
[2]  Makhdoom, I., Abolhasan, M., Abbas, H., & Ni, W. (2018). Blockchain’s adoption in IoT: The challenges, and a way forward. Journal of Network and Computer Applications, Vol. 125, No. 1, pp. 251-279.
 
[3]  Minoli, D., & Occhiogrosso, B. (2018). Blockchain mechanisms for IoT security. Internet of Things, Vol. 1-2, pp. 1-13.
 
[4]  Casino, F., Dasaklis, T. K., & Patsakis, C. (2018). A systematic literature review of blockchain-based applications: current status, classification and open issues. Telematics and Informatics. Vol. 36, No. 3, pp. 55-81.
 
[5]  Crosby, M., Pattanayak, P., Verma, S., and Kalyanaraman, V. (2016). Blockchain technology: Beyond bitcoin, Applied Innovation, Vol. 2, pp. 6-10.
 
[6]  J. Bonneau, A. Miller, J. Clark, A. Narayanan, J. A. Kroll, E. W. Felten, (2015). Sok: Research perspectives and challenges for bitcoin and cryptocurrencies, in: Security and Privacy (SP), 2015 IEEE Symposium on, IEEE, pp. 104-121.
 
[7]  Dwyer, K.J., & Malone, D. (2014). Bitcoin Mining and its Energy Footprint. ISSC 2014 / CIICT 2014, Limerick, pp. 26–27.