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Blockchain: Opportunities For Health Care

Disrupt Your Industry: Blockchain Opportunities And Challenges

Disrupt Your Industry: Blockchain Opportunities And Challenges

Blockchain Unleashed: IBM Blockchain Blog Disrupt your industry: Blockchain opportunities and challenges November 28, 2017 | Written by: Richard Gordon How many times in the last year have you thought about how you transact? You probably dont think about the actual transaction process unless theres an issue. After all, in a lot of cases all you do is click a button. You may have to wait a couple days to receive a newly-purchased item in the mail or for money from a sale to appear in your bank account, but itll get there eventually, right? For anyone whos had to deal with counterfeit products or payment delays, you know successful completion of a transaction isnt guaranteed. Not to mention the fact that business-to-business transactions dont always happen at the click of a button but often involve lengthy, paper-heavy processes and third-party intermediaries. For those seeking to disrupt their industry by changing the way people and businesses currently transact, blockchain is a game changer. Blockchain is a transparent, tamper-resistant distributed ledger or database for recording transactions. Before the blockchain can be updated, the transactions must be verified by consensus from other parties on the blockchain. Everyone who is participating in the blockchain has a synchronized record of all transactions that have ever occurred.Thus, information can be shared quickly and cannot be changed without the network participants knowing. If you use Bitcoin, youve already been interacting with blockchain technology, because Bitcoin transactions are recorded on a public blockchain . However, there are some key differences between Bitcoin and the blockchain technology used by businesses that you can learn about in this blog post . Get started with IBM Blockchain Platform today Continue reading >>

This Is Why Blockchains Will Transform Healthcare

This Is Why Blockchains Will Transform Healthcare

This Is Why Blockchains Will Transform Healthcare Opinions expressed by Forbes Contributors are their own. The blockchain revolution has made its way to the healthcare industry, and its only the beginning of whats possible. Healthcare Rallies for Blockchain , a study from IBM, found that 16% of surveyed healthcare executives had solid plans to implement a commercial blockchain solution this year, while 56% expected to by 2020. Healthcare companies, tech innovators and the rest of the healthcare industry are grappling with whats possible now and what blockchain could solve in the future. The overall vision for blockchain to disrupt healthcare in the future would be to solve many issues that plague the industry today to create a common database of health information that doctors and providers could access no matter what electronic medical system they used, higher security and privacy, less admin time for doctors so theres more time to spend on patient care, and even better sharing of research results to facilitate new drug and treatment therapies for disease. While blockchain principles were first applied in the financial world as the technology that allowed Bitcoin to operate, it has applications for many industries including healthcare. Blockchain s are distributed systems that log transaction records on linked blocks and store them on an encrypted digital ledger. There is no one central administrator, but it has unprecedented security benefits because records are spread across a network of replicated databases that are always in sync. Users can only update the block they have access to, and those updates get replicated across the network. All entries are time and date stamped. What are potential uses of blockchains in healthcare? Although there are some incredibly exc Continue reading >>

Himss Advises Layered Approach To Healthcare Blockchain

Himss Advises Layered Approach To Healthcare Blockchain

HIMSS Advises Layered Approach to Healthcare Blockchain The HIMSS Blockchain Work Group suggests that organizations integrate healthcare blockchain into their IT infrastructure in phases to ensure success. -Healthcare blockchain is expected to grow in the coming year and organizations are challenged with integrating blockchain into their health IT infrastructure. The HIMSS Blockchain Workgroup released part two of its healthcare blockchain blog , advising organizations on how to approach blockchain and what it will most likely be used for in healthcare. The blog continues off the previous blockchain blog by mentioning the HIMSS Blockchain Workgroup. The workgroup was tasked back in August with examining how increased prevalence of application programing interfaces (APIs) access data and how blockchain affects health data security. The workgroup has been developing use cases on the potential of blockchain in healthcare over the past several months, discovering where in healthcare it can realistically be used. Open Source Collaboration Key to Healthcare Blockchain Adoption As activities have matured, and the work group has expanded incrementally to better represent the many categories of healthcare stakeholders, the work group has and will continue to conduct iterative reviews and alignment of our goals to refine HIMSSs short-term strategy for blockchain and distributed ledger technology, and provide our members with the resources they need to assess this technologys application in the healthcare setting, wrote the work group members. HIMSS was also presented a more organized layered approach to healthcare blockchain adoption to help organizations better understand exactly how blockchain will roll out in healthcare. The work group members explained that healthcare blockc Continue reading >>

Health | Gem

Health | Gem

Blockchain technology addresses the trade-off between personalized care and operational costs by connecting the ecosystem to universal infrastructure. Shared infrastructure allows us to create global standards without compromising privacy and security. Blockchain networks require building an inclusive ecosystem of connected companies and technologies. Were partnering with industry leaders to take an industry-driven approach to application and infrastructure development. Gems first partner in healthcare is Philips. Together were exploring how blockchain technology can support a patient centric approach to healthcare. We partner with industry leaders to identify problems they want to solve for their network, and then we spin out a federated blockchain to support the pilot running on GemOS. Limited capacity for partners and projects per pilot. Better Off Abroad? Blockchain Health Firms Gain Ground Outside the US Frustrated by the red tape of the U.S. healthcare system, blockchain startups founded to improve the sharing of patient data are looking abroad to prove their use cases. The moves by Gem, which has partnered with a Scandinavian company, and IncentHealth.io, which is scouting opportunities in Canada, underscore the challenges blockchain technology faces in any heavily regulated market with powerful incumbents and resistance to change. Decentralized Identity Foundation Announces Formation At Consensus 2017 On May 22 at Consensus 2017, panelists from Microsoft, uPort, Gem, Evernym, Blockstack, and Tierion announced the formation of the Decentralized Identity Foundation (DIF). The DIF is comprised of a multitude of competitive companies across industries with the singular unifying focus to create a universal decentralized state of data that can be accessed by institut Continue reading >>

Blockchain Opportunities In Digitalhealth

Blockchain Opportunities In Digitalhealth

Computer scientist turned digital health researcher turned digital strategist, thinking about #startups, #blockchain, #ai, and #digitalhealth Blockchain opportunities in DigitalHealth Probably some time last year, blockchain took off to become one of the biggest tech trends these days. In healthcare, its especially appealing as a data management technology that maintains a single version of truth of data in an immutable time-stamped ledger, with copies being held by multiple parties thereby eliminating the need for a single trusted party. Blockains most well-known applications today are cryptocurrencies (e.g. Bitcoin , Ethereum , Ripple , Litecoin , or IOTA ), and Initial Coin Offerings (ICOs) as a method of crowdfunding. There is a rich ecosystem of new and well-funded blockchain startups emerging. As per CBInsights data, venture and ICO funding that went into blockchain companies increased from 638m in 2016 to 2.8b in Q13 2017. Over the same 3 quarters, the cryptocurrency market cap of existing tokens has increased almost 10x with a current total of >170b . There is a promise of blockchain transforming industry operating models with healthcare & life sciences being considered one of the main industries. Potential benefits comprise e.g. eliminating requiring a trusted party by giving that role to software, creating a universal view of information from a single source of truth, getting transparency on the provenance of data, lowering complexity of data management, and maintaining an immutable data record. It is expected to make firms back-end operations more efficient and cheaper, and some cases even replace certain types of companies altogether. People in the in the industry are convinced of its potential. As per a Deloitte survey, 35% of life sciences and healthcare Continue reading >>

Blockchain In Healthcare: 2017's Successes

Blockchain In Healthcare: 2017's Successes

Blockchain in Healthcare: 2017's Successes Katherine Kuzmeskas is the CEO ofSimplyVital Health, a blockchain firm seeking to bring security and transparency to hospitals and physician groups through technology. The following article is an exclusive contribution to CoinDesk's 2017 in Review . Entering 2018, two things are clear - 1) healthcare is ripe for disruption and 2) there is a massive opportunity for blockchain technology to lead this transformation. From medical recordsto the pharmaceutical supply chain to smart contracts for payment distribution, there are plenty of opportunities to leverage blockchain technology in healthcare. At the end of 2017, however, you'd be forgiven for thinking there hasn't been much progress. As an innovator working on this use case, though, I can say this is far from the case. Looking at three examples below, it is easy to identify why these projects have been successful: " big hairy audacious goals " rooted in initial practical implementations. While it may be difficult to hear, healthcare is a business. When making purchasing decisions, for-profit and not-for-profit healthcare companies need to use the same logic every firm does, by asking, "How will this product bring efficiency or savings?" The three companies below brought their products to market by focusing on an immediate, existing need in healthcare that had an existing business model opportunity. Led by The LinkLab and Chronicled, the MediLedger Project kicked off in 2017, successfully bringing competing pharmaceutical manufacturers and wholesalers to the same table. Together, they designed and implemented a process for using blockchain technology to improve the track-and-trace capabilities for prescription medicine. Built to support the requirements of the U.S. Drug Supply Continue reading >>

Part 1: Navigating The Blockchain Landscape Opportunities In Digital Health

Part 1: Navigating The Blockchain Landscape Opportunities In Digital Health

Part 1: Navigating the Blockchain Landscape Opportunities in Digital Health Much of the promise of blockchain comes with its potential to disrupt and change how healthcare works, a position leading to questions and concerns among the healthcare community including HIMSS members - on what blockchain-driven disruption might look like. With that in mind, HIMSS has recently established a work group to examine blockchain distributed ledger technology and its potential implications for the healthcare information and technology community. The work group, composed of payers, providers, vendors, and other interested parties, has set out to visualize the effects of that disruption. Many healthcare practitioners want to know how to approach the use of blockchain, which is where the work group is focusing its time and energy. With numerous vendors and solutions, and ideas in the market mix, it can be difficult to envision what blockchain actually means for health. As with any new technology, the tremendous amount of hype may overshadow existing blockchain efforts. The HIMSS Blockchain Work Group is looking to provide thought leadership, best practices and key use cases for how blockchain technology might affect the healthcare ecosystem in the future. We have quickly established initial teams focused on providing guidance to our HIMSS community on what types of healthcare challenges blockchain might impact. We also reviewed four critical concepts of blockchain that we feel HIMSS members and the healthcare community want to understand. What would a blockchain network look like in healthcare? What does the overall landscape of blockchain companies look like in the healthcare industry How does blockchain work within the existing health IT infrastructures that payers and health systems Continue reading >>

Who Will Build The Health-care Blockchain?

Who Will Build The Health-care Blockchain?

Who Will Build the Health-Care Blockchain? Decentralized databases promise to revolutionize medical records, but not until the health-care industry buys in to the idea and gets to work. There are 26 different electronic medical records systems used in the city of Boston, each with its own language for representing and sharing data. Critical information is often scattered across multiple facilities, and sometimes it isnt accessible when it is needed mosta situation that plays out every day around the U.S., costing money and sometimes even lives. But its also a problem that looks tailor-made for a blockchain to solve, says John Halamka , chief information officer at Beth Israel Deaconess Medical Center in Boston. Imagine that when a doctor sees a patient or writes a new prescription, the patient agrees to have a reference or pointer added to a blockchaina decentralized digital ledger like the one underlying Bitcoin. Instead of payments, this blockchain would record critical medical information in a virtually incorruptible cryptographic database, maintained by a network of computers, that is accessible to anyone running the software (see Why Bitcoin Could Be Much More Than a Currency ). Every pointer a doctor logs on the blockchain would become part of a patients record, no matter which electronic system the doctor was usingso any caregiver could use it without worrying about incompatibility issues, Halamka says. Our guide to stories in the archives that put technology in perspective. Technologists and health-care professionals across the globe see blockchain technology as a way to streamline the sharing of medical records in a secure way, protect sensitive data from hackers, and give patients more control over their information. But before an industry-wide revolution in Continue reading >>

Part 2: Healthcare Blockchain A Path To Success In 2018

Part 2: Healthcare Blockchain A Path To Success In 2018

Part 2: Healthcare Blockchain A Path to Success in 2018 by David Houlding, MSc, CISSP, CIPP, Director, Healthcare Privacy & Security, Intel Health and Life Sciences, and Heather Flannery, CEO, Obesity, PPM, HIMSS Blockchain Work Group Members Most healthcare data today exists in healthcare organizations within various data silos. Information sharing is either absent or extremely limited. There exists vast, unlocked value in sharing healthcare data in a targeted, secure manner to help enable improved quality of patient care and reduced healthcare costs. In our first blog post , the HIMSS Blockchain Work Group set out on a course to provide thought leadership, best practices and key use cases for how blockchain technology might affect the healthcare ecosystem in the future. For this post, we leverage our work groups experts from across all healthcare sectors with deep collective knowledge of blockchain and its potential value to healthcare for guidance on next steps. Blockchain Work Group Goal Setting and Alignment To start, we examine our groups goal setting and alignment to improve focus on key deliverables of greatest value to the healthcare industry. Since HIMSS formed the Blockchain Work Group in August 2017, it has been highly goal-oriented, focusing on defining the potential role of blockchain and distributed ledger technology within the health information and technology ecosystem [as] well as educating the community on the clinical, business, technical, and financial implications the technology may have on the healthcare landscape. As activities have matured, and the work group has expanded incrementally to better represent the many categories of healthcare stakeholders, the work group has and will continue to conduct iterative reviews and alignment of our goals Continue reading >>

Blockchain Innovation In Healthcare And Life Sciences

Blockchain Innovation In Healthcare And Life Sciences

Blockchain Innovation In Healthcare And Life Sciences The blockchain is the most consequential technology since the internet. The internet is programmable information. The blockchain is programmable scarcity. Balaji Srinivasan , CEO of 21.co The internet is entering a second era thats based on blockchain, this according to futurist Don Tapscotte . Blockchain will also disrupt every industry . Venture capitalist Bill Tai believes that blockchain has the potential to birth the largest companies in the world. Dubai is working towards becoming the first government powered by blockchain . There are now cities that are using blockchain to issue passports. #Blockchain has the potential to birth companies that are "2-5 orders of magnitude larger" than Facebook or Google. pic.twitter.com/v7cyWILR0m Vala Afshar (@ValaAfshar) September 15, 2017 Dubai is working towards becoming the first government powered by blockchain pic.twitter.com/jCvWPgtTRC Vala Afshar (@ValaAfshar) September 12, 2017 The first city in the world to issue #blockchain passports pic.twitter.com/dUcMPubD3d Vala Afshar (@ValaAfshar) September 5, 2017 I recently interviewed Balaji Srinivasan , CEO of 21.co that is using blockchain to revolutionize sales and marketing . Srinivasan recently noted that blockchain is the internet of money . With the blockchain, everything that was scarce now becomes programmable. That means cash, commodities, currencies, stocks, bondseverything in finance is going to be transformed, and aspects of finance baked into everything else. If you deal with information, you need the internet. If you deal with money, you need to deal with blockchains. Balaji Srinivasan Blockchain is a type of data structure thats used to create a digital ledger of transactions and share it among a distributed Continue reading >>

Blockchain: Opportunities For Health Care

Blockchain: Opportunities For Health Care

Blockchain: Opportunities for health care A new model for health information exchanges Blockchain technology has the potential to transform health care, placing the patient at the center of the health care ecosystem and increasing the security, privacy, and interoperability of health data. This technology could provide a new model for health information exchanges (HIE) by making electronic medical records more efficient, disintermediated, and secure. While it is not a panacea, this new, rapidly evolving field provides fertile ground for experimentation, investment, and proof-of-concept testing. A team from Deloitte Consulting LLP won a blockchain ideation challenge sponsored by the Department of Health and Human Services Office of the National Coordinator for Health Information Technology (ONC). Deloittes winning white paper, describes opportunities for applying blockchain technology to health care to make health information exchanges (HIE) more secure, efficient, and interoperable. The paper was selected from over 70 submissions from a wide range of individuals, organizations, and companies addressing ways that blockchain technology might be used in health and health IT to protect, manage, and exchange electronic health information. Blockchain: Opportunities for health care What is blockchain and how can it provide opportunities for health care? A blockchain powered health information exchange could unlock the true value of interoperability. Blockchain-based systems have the potential to reduce or eliminate the friction and costs of current intermediaries. The promise of blockchain has widespread implications for stakeholders in the health care ecosystem. Capitalizing on this technology has the potential to connect fragmented systems to generate insights and to better Continue reading >>

5 Realistic Benefits Of Using Blockchain In Healthcare - Hit Consultant

5 Realistic Benefits Of Using Blockchain In Healthcare - Hit Consultant

Editors Note:Abhinav Shashank is the CEO & Co-founder at Innovaccer Inc., a datashopintegrating complex data across multiple distributed sources to give healthcare organizations greater insights to provider better care. Blockchain- the technology that took the world by storm by its revolutionary work in data management and exchange, especially in the financial sector. Its immense success across different industries has left the healthcare world rattling with questions too. People are calling it the answer to interoperability, and the technology that can solve healthcares looming problems,- but if the confusion looms, blockchain will take double the time to make a difference in healthcare. Lets try to unpack blockchain, one question at a time and understand its implications for the healthcare industry. Blockchain was developed in 2008 by Satoshi Nakamoto, unknown, or rather a pseudonymous person (or a group) and was used as a core component of the digital currency, bitcoin. Keeping the technical jargon aside, blockchain is simply a distributed and a write-once-read-only record of digital events in a chronological order that is shared in a peer-to-peer network. It records exchanges and transactions in a database that can be distributed and shared across authorized users that can add to it, when needed. Sounds simple, right? But heres what makes blockchain different- these authorized users can neither delete nor alter any record and no transaction can take place unless validated by all users. Blockchain is a peer-to-peer distributed ledger technology and has three major components: 1. Distributed network:The decentralized P2P architecture has nodes consisting of network participants, where each member stores an identical copy of the blockchain and is authorized to validat Continue reading >>

New Blockchain-based Startups Create New Opportunities For Healthcare

New Blockchain-based Startups Create New Opportunities For Healthcare

New Blockchain-Based Startups Create New Opportunities for Healthcare A Blockchain-backed health information platform aims at reduction in costs to health providers and patients. Blockchain technology has huge potential to disrupt a wide range of industries, ranging from data management, security and healthcare as a few examples. The Blockchain can provide a new foundation and structure for health information management by making electronic medical records more efficient, without intermediaries and empowering patients to be the owners of their own records. This way, a Blockchain-backed health information platform will be able to unlock the important value of interoperability and in turn, provide a reduction in costs to health providers and patients alike. Hyperledger for a doctor-to-patient platform The Medicalchain platform aims to utilize the Blockchain to improve health record storage. The different institutions such as doctors, hospitals, laboratories, research and health insurers will be able to request permission to access a patients record in order to provide their services and record transactions on the ledger. Medicalchain is going to partner with Civic: this will facilitate one of the ways in which doctors will be able to onboard themselves by using the Civic application integrated into Medicalchain. This is a more secure and reliable way of enlisting doctors because they need to be verified and their license to operate has to be checked. Mo Tayeb, co-founder at Medicalchain explains to Cointelegraph: Blockchain technology is set to change the way healthcare is managed forever. Blockchain allows for clinicians and patients alike to be confident that the medical records are accurate and up-to-date as the distributed ledger guarantees an incorruptible, trustles Continue reading >>

Blockchains And Health Care: Promising And Moving Quickly, Though No Silver Bullet

Blockchains And Health Care: Promising And Moving Quickly, Though No Silver Bullet

he buzz about opportunities for blockchains in the health care and pharmaceutical industries continues to ramp up. This technology can give us new tools to secure medical information, track pharmaceutical supply chains, and more. While blockchains have promise, they are not a panacea for health care. Make no mistake: We are excited about the opportunity to use blockchains in our industry. Earlier this year, we launched Elektra Labs , a venture backed by a National Science Foundation I-Corps grant to develop a more secure system to share and verify health information. To build our first prototype, our team worked with the MIT Media Lab and Ethereum , a blockchain-based platform that was barely a year old. Although there are many potential applications for health care blockchains, we worry that the heavy jargon and media hype has caused a lot of confusion about how and when to use this technology. At its core, a blockchain is a digital ledger in which transactions are recorded chronologically and openly. The ledger is decentralized, with multiple copies stored across a wide network; it does not rely upon a central intermediary, like a bank or broker, to verify transactions. Participants who update the ledger are paid for their work using a digital currency or token, like Bitcoin. Launched in 2009, Bitcoin was the first widely adopted digital asset; others have since launched. The Bitcoin market cap when we wrote this was $316 billion , three times larger than GlaxoSmithKline. A large number of blockchain-based projects have launched in the past few years. To keep track, our team created the open-source map of health care-related projects below. Have an update for the map? Direct message @andreacoravos or submit a pull request via this GitHub repository. To dive deeper in Continue reading >>

What Is Blockchain And How Can It Be Used In Healthcare?

What Is Blockchain And How Can It Be Used In Healthcare?

In general a blockchain is defined as a distributed system which records and stores transaction records. Blockchain more specifically is defined asa shared, immutable record of peer-to-peer transactions built from linked transaction blocks and stored in a digital ledger. Blockchain is also similar to a database which stores information, however the main difference is that the data is located in a network of personal computers called nodes where there is no central entity such as a government or bank controlling the data. Instead, all data is shared publicly althoughthe contents of each data is only accessible to those with permission. Below is a diagram to illustrate how information is stored in distributed network compared to a centralised and decentralised network. VISIT OUR NEW BLOCKCHAIN PAGE FOR BLOCKCHAIN ARTICLES AND VIDEOS! Figure 1: Illustration of network comparisons between blockchain, centralised and decentralised networks. (Petre, 2016b) Furthermore, underlying the blockchain principle are cryptographic techniques. This allows each participant in the network to interact without pre-existing trust between parties, in regards to storing, exchanging and viewing information. Interactions with the blockchain become known to all participants and require verification by the network before information is added, enabling trustless collaboration between network participants while recording an immutable audit trail of all interactions. Each participant connected to the blockchain network has a secret private key and a public key that acts as an openly visible identifier. The pair is cryptographically linked such that identification is possible in only one direction using the private key. As such, one must have the private key in order to unlock a participants identit Continue reading >>

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