11. Distributed features
1) Transparency: it is possible for anyone to track the movement of funds
from one account to another.
2) Immutability: once confirmed, a transaction cannot be reversed. No one
can interfere with a completed transfer.
3) Low cost: transaction fees are minimal.
4) Cross-border: funds can be sent as easily to someone on the other side of
the world as they can to someone in the next room.
5) Speed: due to the flat and transparent nature of the blockchain, transfers
show up almost instantly and are typically confirmed in minutes, rather than
hours or days.
12. Blockchain as a Service (BaaS)
Ethereum Blockchain as a Service by Microsoft Azure
Rubix by Deloitte
IBM Blockchain on Bluemix
13. Blockchain in Healthcare
As the healthcare industry explores blockchain to re-architect different business models,
especially in Health Information Exchange (HIE)
major pain points that can be acutely alleviated using the blockchain?
1. Inconsistent data standards and lack of compatibility across systems: Blockchain
allows data such as electronic health and medical records to update near-real time
across the networks, significantly decreasing standardization effort.
2. Varying rules and permissions impeding efficient access: The connected network
allows reliable and rule-based methods for accessing data. Authorized health
organizations can access this data anytime.
3. Inefficiency due to multiple patient identifiers across the network: Patient identities
could be protected and encrypted using a Master Patient Index (MPI) through a
distributed framework of both private and public identifiers, improving information
flow and protecting patient privacy.
Through building a trust network, decreasing cost per transaction, improving speed,
and increasing access to patient and health data, blockchain has already impacted areas
such as precision medicine, patient care and outcomes research (PCOR), and
Nationwide Interoperability Roadmap.
