Blockchain in Healthcare
Founder and CEO of Hashed Health
Blockchain initiatives in the news today have highlighted opportunities to create more secure transactions and ledgers between parties by recording those transactions both efficiently and verifiably. Its use in healthcare has been a bit more nascent, with potential applications ranging from medical records to supply chain. As this space continues to emerge, it is exciting to understand some of the pilots, projects and use-cases of blockchain that are being shaped and tested, specifically in healthcare. In addition to the applications, what are the business models and regulatory considerations that will promote adoption and scale in the market?
As part of MATTER’s Blockchain in Healthcare Series, John Bass, Founder and CEO of Hashed Health, will share his perspective around healthcare applications of blockchain that Hashed Health has focused on over the past 2.5years, and insights into some of the business model and regulatory considerations.
This program is part of MATTER’s Blockchain in Healthcare series.
Blockchain is a term widely used to represent an entire suite of new technologies. At a high level, blockchain technology allows for a network of computers to agree at regular intervals on the true state of a distributed ledger. Such ledgers which contain different types of shared data, such as transaction records, attributes of transactions, or credentials, are often secured through a clever mix of cryptography and game theory, and do not require trusted nodes like traditional networks. Blockchain technologies could potentially reduce the cost and friction of verification in transactions, increase the degree of privacy and security of information, and reduce the cost of networking by eliminating the need for intermediaries in the exchange of goods and services.
While blockchain is currently considered a general-purpose technology, its specific application and impact in healthcare has yet to be determined. Areas such as money transfer and payments, identity and privacy in EHR records, smart contracts, and ownership and governance of physical products such as drugs or devices all represent potential opportunities.