blockchain 101 - distributed:health

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Distributed:Health — October 2016

B L O C K C H A I N 1 0 1

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BLOCKCHAIN101


WHAT ARE BLOCKCHAINS?

HOW DO THEY WORK?

9 FACTORS OF BLOCKCHAIN

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Trust Shifting Decentralization Automation

Cryptography Permission-less Validity

Immutability Uniqueness Authentication

MACHINE TO MACHINE

PKI LIKE THE INTERNET CONTINUAL SYSTEM SELF & CROSS CHECKING

NO REWRITES NO DOUBLE SPENDING EVERY ACTION IS AUTHENTICATED


BLOCKCHAINS ARE NETWORKS

Like the Internet, blockchain valuederives from network participants.

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BLOCKCHAINS ARE DISTRIBUTED, IMMUTABLE DATABASES They are technological infrastructure.

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They contain an historic record of every transaction

and are easily auditable

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They are resilient due to network power and cryptographic integrity

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The distributed computing power provides certainty (via proof of work) to the data via “confirmations” of transactions and a large economic disincentive for malicious actors

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PERMISSIONED CHAINS = SYNDICATE

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PUBLIC BLOCKCHAINS = THE INTERNET

PRIVATE CHAINS = AN INTRANET


WHAT PROBLEMS CAN BLOCKCHAINS SOLVE?

HOW DO THEY SOLVE THEM?


Creating “Digital Scarcity”: making it extremely difficult (practically impossible) to double spend

Creating immutability: blockchains are unalterable historic records

DIGITAL UNCERTAINTY / DUPLICITY – THE “DOUBLE SPEND” PROBLEM –

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Civics 101: Neutral ground, a level playing field.

A “trust-shifted” system: removing the requirement for an arbitrator for settlement.

No need to trust owner of the remote computer

(such as a clearinghouse).

3RD PARTY & COUNTERPARTY DEPENDENCY – THE “TRUST” PROBLEM –

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OPPORTUNITIES THAT ARISE FROM THIS TECHNOLOGY


Blockchains as public technology infrastructure: a greenfield platform for innovation.

Blockchain technology allows for the creation of notarised unalterable “fingerprints” of files, which is a great tool for open, secure and permanent record keeping, with real-time auditing.

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Blockchain digital currencies can be used as secure tokens for any asset

Programmable contracts (smart contracts) that can interact with blockchains, or even run on them (eg: Ethereum), allow you to combine record keeping and asset transfer in one application.

And More....


Patient-centric data (self sovereign)

Paradox:Transparency and data access vs. privacy (HIPAA)

Claims processing- months!

Secure, multi-party write access

Multi-party, multi-step payouts

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Interoperability - EHR/EMR

Provider credentialing and enrollment

Transferring provider from state-to-state: Slow, painful (DEA numbers)

Audit trails


WHAT PROBLEMS DOBLOCKCHAINS CREATE?


No real world identity: information onlyOwnership becomes a matter of what you know, not what you have

Novel asset forms are bitcoins a security, commodity, money, etc? What does this mean for regulators/audit/etc ubiquitous liquidity: fixed assets embodied in divisible crypto-tokens

Crypto-tokens are superseding traditional regulatory frameworksLegal sovereignty no longer a necessary requirement to produce a currency Borderless asset transfer

Smart contracts are incoerciblepotentially in contempt of court a new legal infrastructure

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QUESTIONS?


Thank You!

Jeff Garzik Co-Founder | [email protected] WeChat/Twitter | @JGarzik

Matthew Roszak Co-Founder | [email protected]

WeChat/Twitter | @MatthewRoszak

Enterprise Grade Blockchain

blockchain 101 - distributed:health

Economy & Finance