Viewpoint: 3 reasons blockchain could improve healthcare

As Amazon, Walmart and IBM explore using blockchain to improve workflows and efficiencies, blockchain is becoming more mainstream, according to an op-ed by AJ Agrawal, founder of Verma Media, in Entrepreneur.

More healthcare organizations and other business are making blockchain a priority, as executives see the technology as a compelling business strategy for innovation.

Below are three reasons blockchain could improve the industry, according to Mr. Agrawal.

1. Speed: Blockchain platforms can be leveraged to boost the time it takes to complete payments. In one blockchain, a payment settlement takes no more than a few seconds.

2. Sustainability: Decentralized ledgers are designed to store endless amounts of data. Blockchains could store trillions of blocks that are permanent and can always be viewed.

3. Privacy: Through the added encryption, blockchain platforms give users extra security. Additionally, the platform allows users to only share the information that they want publicly available on the blockchain.

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