[Bit]coin flipping: Blockchain in the healthcare industry —dream or reality?
Blockchain in the field of finance is no news —but blockchain in healthcare is. This industry is in dire need of both optimization and boosted efficiency, and blockchain solutions may be the answer. If you have an idea how to put blockchain to good use in healthcare, you’re in luck: there’s a contest that rewards the best ideas.
Peter B. Nichol said in an article published in CIO earlier this year that blockchain could be the answer to the healthcare industry hiccups, leading the way to healthcare 2.0. Blockchain applications deeply rooted into the healthcare industry are springing up like mushrooms after the rain — there’s Tierion which promises to be “your bridge to the blockchain” and allows users to create a verifiable record of any file, data, etc and Gem, whose blockchain application platform reportedly transforms the way companies and industries connect to solve impossible problems. Factom’s aim is to secure data and even medical records with the help of blockchain and Guardtime has joined forces with the Estonian e-Health Authority to secure more than one million health care records.
The blockchain technology is being dissected by companies from across the world in an attempt to solve the healthcare industry’s most pressing problems. Probably the most well-known initiative is Philips Blockchain Lab, which explores blockchain’s potential usage in connected healthcare.
Although many companies are currently exploring the potential benefits of incorporating blockchain into the healthcare industry, a U.S. federal agency has taken this idea one step further: the Office of the National Coordinator for Health Information Technology has recently announced a challenge which “solicits white papers on the topic of Blockchain technology and the potential use in health IT to address privacy, security, and scalability challenges of managing electronic health records and resources. ”
Among the potential uses of the blockchain technology there’s the idea of managing IoT devices, ensuring distributed trust and digitally signing information. White papers can be submitted by individuals or teams, but they should not exceed 10 pages. 12-15 white papers will be awarded a cash prize in the range of $1,500 – $5,000 and eight of the winners could be invited to present their proposals at an industry-wide workshop on September 26-27.
Submission period ends on August 8, 2016.