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BLOCKCHAIN

It’s time to move the UAE’s healthcare system onto the. BLOCKCHAIN. 5th Annual Health Insurance Conference "Innovation in Healthcare Insurance”. WHAT IS THE DIFFERENCE?. WHAT IS A BLOCKCHAIN?.

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BLOCKCHAIN

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  1. It’s time to move the UAE’s healthcare system onto the • BLOCKCHAIN 5th Annual Health Insurance Conference "Innovation in Healthcare Insurance”

  2. WHAT IS THE DIFFERENCE?

  3. WHAT IS A BLOCKCHAIN? A Blockchainis a shared ledger of records in the form of “blocks” which are linked using cryptography. Each block contains a timestamp and a cryptographic hash of the previous block, leading to an up-to-datechainof records distributed to all participants.

  4. IN SIMPLER TERMS: it’s a technology that… 1. Permits transactions to be gathered into blocks and recorded 2. Cryptographically “chains” blocks in chronological order 3. Allows the resulting ledger to be accessed by different servers

  5. 5 QUICK TIMELINE A look at blockchain through the last ten years Bitcoin White Paper On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. This paper detailed methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust" 2008 Dollar Parity In February 2011, the price of one bitcoin was equal to a dollar. 2011

  6. Blockchain 2.0 Blockchain technology was being praised in the news as a value exchange protocol. Early use cases outside of cryptocurrency begin to surface. 2013 Enterprise Blockchain IBM and others begin examining the use of blockchain technology for IoT and the growing network of devices with basic computer-like capabilities that communicate over the web. 2014 Government use cases Honduras, the Isle of man, Estonia, and other countries research decentralized recordkeeping to develop concepts such as a permanent and secure land title record system 2015

  7. Cryptocurrency mania The number of businesses accepting cryptocurrency exploded. Bitcoin specifically had a stellar year in 2017, starting at around $800 and steadily gaining value, before touching an all-time high of $19,783 on December 17th. 2017 Decentralized Human Rights In September 2018, IBM and a start-up Hu-manity.co launched a blockchain-based mobile app that let patients sell anonymized data to pharmaceutical and insurance companies. 2018

  8. WHAT IT LOOKS LIKE

  9. WHAT YOU SEE WHAT’S HAPPENING

  10. PUBLIC PRIVATE Open and transparent PERMISSIONED ACCESS  GOVERNANCE Expensive to maintain VERY SLOW VERY FAST

  11.   NO CRYPTOCURRENCY NEEDED BITCOIN VS BLOCKCHAIN 

  12. PROs And CONs Do we really need a blockchain?

  13. THE GOOD TOKENS NOT NEEDED SCALABLE AND SWIFT USES SMART CONTRACTS PERMISSIONED ANDPRIVATE

  14. THE BAD UNTESTED AND YOUNG STEEP LEARNINGCURVE COOPERATIVE NETWORK NEEDED HUMAN ERROR REMAINS

  15. ENTERPRISE • BLOCKCHAIN

  16. INSURANCE TODAY The current state of healthcare in the UAE Administrative tasks are costly and time consuming. Information is “funneled” through isolated silos. Claims take long to resolve Complicated reconciliation Fraudulent behavior can slip between the cracks

  17. CRUNCHING THE NUMBERS UAE Healthcare insurance 34% 20% $1Bn >50% Gross written premium Health insurance Compound annual growth rate Cost of medical fraud Is captured by 5 companies % of insurance market Highest segment in GCC Per year in the UAE

  18. CLEAR USE CASES Healthcare and blockchain combined Branded VS Unbranded Prescription tracking to detect branded prescription when non-branded medication is available. Patient History Sharing medical history from providers using Patient-Authorized Access Anti-fraud and misuse Health Insurance Claim Adjudication Automation to Surface Error and Fraud

  19. HOW CAN WE TEST BLOCKCHAIN? Healthcare and blockchain combined

  20. CONSORTIUM CHALLENGES: Healthcare and blockchain combined LACK OF ALIGNMENT PRIORITIZATION AND REALIZATION WHAT BEST PRACTICE? STUCK IN PoC HELL The Confidence Chasm

  21. BENEFITS OF MOVING ON-CHAIN UAE Healthcare insurance Better record keeping Smart contract-based claim resolution Significantly reduce operational costs Improved fraud detection

  22. Innovation in Healthcare Insurance WALID DANIEL DIB | KARIM DAVIS DIB

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