Abstract of Factors Determining Adoption of Block Chain in the
International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Open Access | Fully Refereed | Peer Reviewed

ISSN: 2319-7064

Downloads: 50

Research Paper | Information Technology | Kenya | Volume 9 Issue 12, December 2020

Factors Determining Adoption of Block Chain in the Insurance Industry: A Case of Kenya

Kanuku Musyoku, Shitanda Douglas, Nganu Margaret

Blockchain is receiving increasing attention from academy and industry, since it is considered a breakthrough technology that could bring huge benefits to many different sectors. In 2017, Gartner positioned blockchain close to the peak of inflated expectations, acknowledging the enthusiasm for this technology. In this scenario, the risk to adopt it in the wake of enthusiasm, without objectively judging its actual added value is rather high. Insurance is one the sectors that, among others, started to carefully investigate the possibilities of blockchain. For this specific sector, however, the hype cycle shows that the technology is still in the innovation trigger phase, meaning that the spectrum of possible applications has not been fully explored yet. Insurers, as with many other companies not necessarily active only in the financial sector, are currently requested to make a hard decision, that is, whether to adopt blockchain or not, and they will only know if they were right down the years. This study seeks to establish the factors which determine successful adoption of block chain in the insurance industry. The study is descriptive in nature, with both qualitative and quantitative data. Stratified random sampling technique was used to select 16 companies out of the 52 insurance companies registered in Kenya, based on their domain of operation. The study identified several factors, which are the major determinants of the block chain adoption. They were categorized into four domains. Motivational aspect, Internal barriers, External barriers and Ecosystem barriers. Out of this research, it came out clearly that there is need for a framework on block chain adoption, putting into consideration the factors identified as the elements of the framework.

Keywords: Block chain, Insurance industry, block chain adoption, determinants, framework

Edition: Volume 9 Issue 12, December 2020

Pages: 881 - 889

Share this Article

How to Cite this Article?

Kanuku Musyoku, Shitanda Douglas, Nganu Margaret, "Factors Determining Adoption of Block Chain in the Insurance Industry: A Case of Kenya", International Journal of Science and Research (IJSR), https://www.ijsr.net/search_index_results_paperid.php?id=SR201204131315, Volume 9 Issue 12, December 2020, 881 - 889

Enter Your Email Address


Similar Articles with Keyword 'determinants'

Downloads: 109

Research Paper, Information Technology, Burkina Faso, Volume 8 Issue 10, October 2019

Pages: 1468 - 1471

The Determinants of Internet Adoption among Urban Heads of Household in Burkina, Faso

KABORE Theophile

Share this Article

Downloads: 111

Review Papers, Information Technology, Kenya, Volume 5 Issue 11, November 2016

Pages: 1467 - 1471

Determinants of Implementation and Adoption of Customer Relationship Management (CRM) System

John Wamai, David M. Nzuki

Share this Article

Similar Articles with Keyword 'framework'

Downloads: 2

Research Paper, Information Technology, India, Volume 4 Issue 4, April 2015

Pages: 91 - 93

A Scalable Two-Phase Bottom-Up Specialization Prospective for Data Anonymization Using Map Reduce on Cloud

Dilipprasad.E, Ajay.R, K. Durairaj

Share this Article

Downloads: 101

Survey Paper, Information Technology, India, Volume 4 Issue 5, May 2015

Pages: 2439 - 2441

Improving the Reliability of the Automation Framework based on Code Coverage Analysis

Snehalata Giraddi, Merin Meleet

Share this Article

Similar Articles with Keyword 'Block'

Downloads: 102

Survey Paper, Information Technology, India, Volume 3 Issue 10, October 2014

Pages: 607 - 611

A Survey Based on Fingerprint Recognition - Minutiae

Annapoorani. D, Caroline Viola Stella Mery. M

Share this Article

Downloads: 103

Research Paper, Information Technology, India, Volume 5 Issue 2, February 2016

Pages: 1465 - 1469

PTP Method in Network Security for Misbehavior Detection Using Entropy

Neha Pathak, R. S. Apare

Share this Article

Similar Articles with Keyword 'chain'

Downloads: 88

Research Paper, Information Technology, United States of America, Volume 9 Issue 7, July 2020

Pages: 1087 - 1088

Modern Warehouse Operations Execution Using Mobile Devices

Dhanesh Thatikonda

Share this Article

Downloads: 113

Review Papers, Information Technology, India, Volume 3 Issue 11, November 2014

Pages: 51 - 55

Challenges of Radio Frequency Identification Technique

Gaurav Sethi, Dr. Andhe Dharani

Share this Article

Similar Articles with Keyword 'Insurance'

Downloads: 106

Research Paper, Information Technology, India, Volume 4 Issue 4, April 2015

Pages: 2073 - 2076

Healthcare Insurance Fraud Detection Leveraging Big Data Analytics

Prajna Dora, Dr. G. Hari Sekharan

Share this Article

Downloads: 115

M.Tech / M.E / PhD Thesis, Information Technology, India, Volume 3 Issue 11, November 2014

Pages: 918 - 922

Prevention Methods for Discrimination in Data Mining

K. Madhavi, Krishna Naik Mudavath

Share this Article

Similar Articles with Keyword 'industry'

Downloads: 101

Informative Article, Information Technology, India, Volume 6 Issue 3, March 2017

Pages: 1283 - 1284

Android Security, An Overview

Raj Singh Gaur

Share this Article

Downloads: 103

Research Paper, Information Technology, India, Volume 3 Issue 10, October 2014

Pages: 1059 - 1072

Globalization and Media

Dr. Manjeet Rathee

Share this Article

Similar Articles with Keyword 'block'

Downloads: 102

Survey Paper, Information Technology, India, Volume 3 Issue 10, October 2014

Pages: 607 - 611

A Survey Based on Fingerprint Recognition - Minutiae

Annapoorani. D, Caroline Viola Stella Mery. M

Share this Article

Downloads: 103

Research Paper, Information Technology, India, Volume 5 Issue 2, February 2016

Pages: 1465 - 1469

PTP Method in Network Security for Misbehavior Detection Using Entropy

Neha Pathak, R. S. Apare

Share this Article
Top