3 blockchain misconceptions debunked

Though blockchain is becoming more mainstream, the technology continues to have its fair share of misconceptions.

Below are three common traps executives should disregard when considering blockchain, according to CryptoNewsZ.

1. Blockchain can be used only for cryptocurrencies: While blockchain is used for cryptocurrencies, the technology can also be used for supply chain management and conducting administrative tasks.

2. Blockchain is a fad: Both private and public blockchains are becoming successful when used to enhance the end-user experience, reducing middlemen and building trust between organizations.

3. An industry-wide consortium is required to use blockchain: Private blockchains can be deployed to give organizations the opportunity to work more seamlessly with other consumers and suppliers.

More articles on health IT:
What Novant Health has accomplished since moving its EHR to the cloud
Moody's: Hospitals lack transparency when disclosing data breaches
Viewpoint: 3 reasons blockchain could improve healthcare

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months