Geiger, L. (2020):
Technology Comparison for long-term Retention of Contract Data
With the emergent development of blockchain technology, the number and variety of applications increases. Businesses, such as life insurance companies, are considering using it as their storage solution. It has potential benefits over the traditional option of relational databases like immutable data. For life insurance companies a significant part of IT projects is data migration. In the worst case, contract durations can be up to 120 years. This thesis helps deciding if blockchain is a suitable candidate for long retention of contracts. Mandatory technology features of data storage and native data migration will be collected. Based on these, blockchain technology will be compared with relational databases management systems. To select the most suitable blockchain system, several approaches are compared regarding their data model. Hyperledger Fabric determined to be the best choice. Since the comparison focused on the use case of this thesis relational databases show clear advantages over the blockchain technology Hyperledger Fabric.