Title: Improving credit information sharing in small economies using blockchain technology

Authors: Job Mariga; Christopher A. Moturi

Addresses: Department of Computing and Informatics, University of Nairobi, University Way, Nairobi, Kenya ' Department of Computing and Informatics, University of Nairobi, University Way, Nairobi, Kenya

Abstract: Motivated by the need for a better credit information sharing (CIS) mechanism that can create the desired impact in small economies such as that of Kenya, this paper explored the application of blockchain to solve underlying issues regarding personal information. A review of key policy documents provided existing strategic directions in the sector. Seven experts were interviewed to provide their insights with blockchain in CIS. Using the theory of planned behaviour, expert propositions were developed. The potential of blockchain to protect consumer privacy was explored through questionnaire feedback from diverse credit information providers. By developing and testing a prototype for better CIS, the paper demonstrates a proof of concept on the implication of such a disruptive technology. This is a challenge that has been posed by the World Bank Group, among others. Although blockchain is still new for most applications, CIS systems can exploit this technology.

Keywords: credit information sharing; CIS; smart contract; blockchain; consumer privacy.

DOI: 10.1504/IJBC.2023.132707

International Journal of Blockchains and Cryptocurrencies, 2023 Vol.4 No.2, pp.171 - 185

Received: 12 Apr 2023
Accepted: 23 May 2023
Published online: 08 Aug 2023 *

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