Part 3 Of 4
Coronavirus headlines seem to be dominating my newsfeed and have been attributed to the recent spike to BTC $10,000. It seems like a good time to look at the multi billion dollar opportunity at the intersection of blockchain and health.
If you missed Part 2, you can find it here!
We all know of at least some of the applications of blockchain to the financial services industry – after all, it was born out of a reinvention of payments and money with bitcoin, and rapidly evolved over a decade into a number of use cases ranging from interbank settlements to digital identity for better AML/KYC. Financial services (including insurance) is estimated to be about twenty to thirty percent of the global economy, and represents a critical instrument through which the rest of it operates. Another 10% is spent on health, which represents a potentially high-impact area ready for blockchain – many intermediaries, lots of paperwork, high costs, and high degrees of inefficiencies – and data gaps that, when they grow too big, result in loss of life.
Let’s take a closer look at healthchain…
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Adapted from Basic Blockchain © 2020 Visionary Future LLC, published by Robinson, an imprint of Little, Brown Book Group
Blockchain technologies could be applied in the health industry in a scalable manner with high-impact results, such as improved welfare for patients and reduced running costs for healthcare systems.
There are some interesting dynamics when it comes to personal data in the healthcare services. On the one hand, people want security and privacy where their medical information is concerned.