How to explain blockchain to the C-level

Mackenzie Garrity - Print  | 

For experts in blockchain, the technology is easy to wrap their brain around. However, for beginners, it can be a difficult concept to grasp.

Often times when experts define blockchain to beginners, complex jargon is used, leaving beginners just as confused about blockchain. If not more confused. To get the C-level on board with adopting blockchain, they must first understand it. During a session at Becker's 5th Annual Health IT + Revenue Cycle Conference, Alonzo Sexton, MD, an orthopedic surgeon at Northside Hospital, shared tips with how to explain blockchain.

First, Dr. Sexton stressed that blockchain experts need to explain why the technology is important. From there, it can sometimes be easier to understand what blockchain is.

Blockchain is commonly thought of as a tool to reduce administrative waste. Having a simplified source for where information is held and can be accessed, limits the need for multiple people to verify the same information. Simply put, blockchain technology serves as the central database with added security.

By explaining in a way that addresses why blockchain is important and what it can do for an organization, leaders can more easily conceptualize the decentralized solution.

Secondly, Dr. Sexton reminded the audience that "smart people don't like to be made to feel stupid." Although blockchain is a tough technology to explain, don't assume someone doesn't have the ability to understand it.

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