Researchers at University of Turin Publish New Data on Blockchain Technology ()

2021 FEB 25 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx Policy and Law Daily -- Current study results on blockchain technology have been published. According to news originating from the University of Turin by NewsRx correspondents, research stated, “Takaful insurance is increasing its consideration.”

The news journalists obtained a quote from the research from University of Turin: “Islamic insurance provides mutual aid and protection. However, the different model does not always make the business efficient. Several studies have shown the difficulty of Takaful companies in limiting their operating costs and having efficient borders. To reduce such operating costs and reach economies of scale, this paper assesses the adoption of Blockchain technology as a critical value for the Islamic insurance industry. Building upon a literature review and drawing on the SWOT framework, this paper outlines internal strengths and weaknesses as well as external opportunities and threats. Our analysis reveals that the Blockchain technology can help in the reduction of fraud, increase timeliness of actions for customers, allow for faster and more efficient management of claims and improve the risk management.”

According to the news reporters, the research concluded: “Theoretical and practical implications are discussed.”

A free version of this journal article is available at https://doi.org/https://doi.org/10.13135/2421-2172/4926.

Our news editors report that additional information may be obtained by contacting Maha Radwan, University of Turin.

(Our reports deliver fact-based news of research and discoveries from around the world.)