Page 23 - June 2018 Disruption Report Flip Book

BLOCKCHAIN ADOPTION
JANJUNAERY20210818
Supply Chain Management Pilot: Maersk and IBM.
Maersk and IBM conducted an 18-month successful pilot of a blockchain- based electronic end-to-end shipping solution, utilizing smart contracts, which digitizes supply chains and tracks international cargo in real time. The new platform replaces the electronic data interchange (EGI), 60-year old technology that transmits shipping documents that are typically sent by courier to customs for validation.
Maersk and IBM recently announced a venture to offer their platform to shipping industry after regulatory approvals are obtained. This new platform is poised to revolutionize the $4 trillion a year international shipping industry by reducing cost and friction in the shipping process. (Blockchain for Dummies, Manav Gupta, 2017; Computer World, Lucas Mearian, 01/16/18)
Healthcare
The healthcare industry needs a more efficient and secure system for managing medical records, pre-authorizing payments, settling insurance claims, and performing and recording other complex transactions. Blockchain promises to provide much needed relief.
Electronic medical records
Electronic medical records are currently maintained in data centers (in a cloud-like environment), and access is limited to hospital and care provider networks. Centralization of such information makes it vulnerable to security breach and can be expensive. Blockchain holds the complete medical history for each patient, with multiple granularities of control by the patient, doctors, regulators, hospitals, insurers, and so on, providing a secure mechanism to record and maintain a comprehensive medical history for every patient. With this in mind, the following benefits are realized:
• Tamper-resistant means of storing medical history
• Reduced time in resolution of insurance claims and increased efficiency in
providing insurance quotes
• Complete medical history of the patient for use by physicians for precise drug recommendations
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