US insurance companies to test a blockchain platform

Two US health insurance giants partner up to test a new blockchain pilot to improve healthcare system in USA
04 April 2018   429

Storing data is always expensive and presents a lot of issues with security. And blockchain has presented a new way to do it with less expense and hassle. Now American insurance companies want to try it out and see, if they will benefit from new technology in any way.

The biggest players in US health insurance sector are UnitedHealth Group and Humana. Together with UnitedHealth Group's subsidiary Optum they have partnered with Quest Diagnostics and MultiPan to test out a new blockchain pilot for the sector.

According to the press release published by UnitedHealth Group on April 2, 2018, the goal of the project is to see if sharing data between health insurance providers through blockchain will help people get faster access to care, streamline administrative work and improve data accuracy.

But the main issue to be corrected by the implementation of blockchain in such a way is the cost of data storage and maintenance. Right now it costs insurance companies about 2 billion dollars a year just to maintain the records and compile them with the separate copies, stored by hospitals and other parties in the business when differences arise.

Hopefully it will also reduce the cost of the services for the customers, but it's unclear as of now, because the project is just a pilot to test out the feasibility of blockchain in such a task. But more accurate information about the patient is essential to providing the best possible treatment, on this all the parties agree unequivocally.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   111

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.