Including Bitcoin, the block chain that has gained popularity as a distributed technology that supports FinTech. However, John says, “Depending on the problem you want to solve, the form of blockchain to be used is different. In healthcare, a public style like bitcoin is not suitable.” The top runners who have been involved in healthcare for 25 years and pioneered the use of blockchains in medical care, have identified current issues and prospects for the future.
Pioneer of blockchain utilization in the healthcare field
John Bass Founder & CEO, Hashed Health
John Bass (“John”) : John Bass is CEO and founder of Hashed Health, which offers blockchain distributed solutions. Based in Nashville, Tennessee. He has been in the field of healthcare for 25 years, and after launching two BtoB healthcare startups, he will be in his current position.
Hashed Health was founded in 2016 as the world’s first company working on blockchain utilization in healthcare. While developing BtoB products that are the most influential demand for corporate infrastructure, we also offer consulting services for large enterprises. At the same time, we participated in events all over the world, conducted awareness activities on blockchain technology and needs, and worked on market development and development and community creation.
The only public type used for bitcoins is not a “blockchain”
John : A blockchain is a distributed “ledger” that tracks transactions and transactions and is shared over the network. The scope of sharing may be public or private.
It is probably the former open public type used for bitcoin etc. to be imaged in the word of general “block chain”. However, depending on the problem you want to solve, the form of blockchain to be used varies.
For example, because medical information is often sensitive, it is common to use private networks when block chains are used in the healthcare area.
But it will still take some time for the blockchain to truly transform healthcare. Because there are many non-technical issues. In order to deliver solutions that utilize the latest technology to society, it is necessary to assemble a new business model that supports them. In addition, governance models and structures must be constructed in an optimal manner.
Business model, governance model, governance structure. It is very difficult to balance these three. Even though we have been working for nearly three years, we have not yet built a truly useful solution. The business model has to be dozens of times better than now, and we need to encourage further participation in governance as well, and build a model that allows all members of the network to participate.
A socially implemented blockchain with outcome based contracting and qualification scene
John : However, there are cases where blockchain technology has already been implemented in society. For example, verification of outcome based on contract. In all areas, it has become more common to conclude contracts on an outcome basis rather than task volume and content. However, outcome-based contracts have a very high administrative burden to verify results. That’s where blockchains come in handy. You can use blockchains to share reliable history.
In healthcare, too, there are many cases where outcome-based, that is, treatment-based contracts can be effective. For example, imagine a cancer genome treatment that costs $ 500,000. There is no patient who wants to pay $ 500,000 just to receive treatment. Insurance inquiries should be judged in conjunction with drug availability. In these cases, blockchains can significantly reduce the cost of value validation.
Blockchains are also used for proof of eligibility. For example, it took 80 days to prove the medical license, but the waiting period was worth $ 750 per day because the next action could not be taken. But with blockchain technology, you can authenticate at a much lower cost.
First, social implementation proceeds from the BtoB domain. And even the definition of “block chain” is vague
John : Let’s get a close look at the future of blockchain trends. In the United States, social implementation is said to progress from small-scale BtoB solutions. It will also be used for enterprise solutions that tend to be more important than trust.
However, I think it will still take time for blockchains to be implemented in consumer products. A lot of blockchain companies will be born and disappear, and partnerships will be created, and new types of services will be born, centered on the B to B domain. There will also be further explorations of governance models in the future.
Every change is on hold. However, it will still take time for the change to be large enough to create confusion. Many failure cases will come out, and I think that it may end in failure as a result of applying the block chain referring to the model that has already been socially implemented.
The distributed type doesn’t necessarily mean that you need a blockchain, and you may see blockchain technology of the type you never imagined before. The definition of “blockchain” is becoming vague.
However, by properly balancing technology solutions with business models and governance, you should always find the best implementation model. I think that there are plenty of opportunities for startups.