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IN COMPARISON TO TRADITIONAL IT PARADIGMS, CLOUD COMPUTING ENABLES TO OBTAIN DESIRED COMPUTING RESOURCES ON-DEMAND WITHOUT REQUIRING LARGE, UPFRONT INVESTMENTS AND TO DYNAMICALLY ADAPT AND SCALE THESE RESOURCES TO VARYING BUSINESS REQUIREMENTS. HOWEVER, CLOUD COMPUTING IS NOT A PANACEA. THIS DRIVES THE NEED TO EXAMINE THE SPECIFIC REASONS AND REQUIREMENTS FOR CLOUD ADOPTION IN PRACTICE. HERE, WE FOLLOW AN ANALYTICAL APPROACH TO EXAMINE CLOUD ADOPTION BY CONDUCTING A LITERATURE SURVEY AND AN EMPIRICAL STUDY.
THE RECENT EVOLUTION OF SMART CONTRACTS AND THEIR FAST ADOPTION ALLOW TO RETHINK PROCESSES AND TO CHALLENGE TRADITIONAL STRUCTURES. THEREFORE, WE INTRODUCE THE UNDERLYING TECHNOLOGY AND RECENT IMPROVEMENTS. FURTHER, WE PROVIDE AN OVERVIEW OF HOW THE INSURANCE SECTOR MAY BE AFFECTED BY BLOCKCHAIN TECHNOLOGY AND SMART CONTRACTS. WE SHOW AN EXEMPLARY USE CASE AND EMPHASIZE CURRENT CHALLENGES AND LIMITATIONS IN THIS AREA.