Before you can develop a business case, you must understand what blockchain is and what it is not

As much hype as there is around blockchain and Bitcoin, as an architecture for distributed but trustworthy record-keeping blockchain could turn out to be underhyped in the long run.

That is why major financial institutions are investigating applications of blockchain, even though it’s best known as a base technology for cryptocurrencies. In addition to financial transactions, blockchain has many other potential applications such as enabling smart contracts in software rather than written in legalese.

However, blockchain business models are still a work in progress. I have been huddling with my team to think about ways blockchain could be applied to tamper-proof tracking of healthcare claims and contracts or medical records. We see a lot of potential but also many practical problems to solve.

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