Last week, DB Results Thailand, together with OutSystems, hosted a webinar “Digital Technology and the New Economics of Healthcare”, presented by Professor Jason Potts. Jason is a professor of economics at RMIT University, as well as Director of the RMIT Blockchain Innovation Hub.

Blockchain is a digital technology that manages data between distributed resources. Rather than data being stored in one central location, with blockchain technology each resource holds a copy of the data, stored as ‘blocks’ and linked (or chained) together. When someone wants to query a piece of data on the blockchain, the request is communicated through all resources’ copy of the data to ensure each resource agrees. This makes blockchain an incredibly secure way to store data as any attempts to tamper with the data are highly traceable.

The security and traceability of blockchain makes it especially useful for industries that deal with sensitive information, such as financial services and healthcare. In this webinar, Jason Potts highlights the importance of trust in managing healthcare data, where currently 35% of cost in the overall economy is put towards verifying and crosschecking information. Blockchain has the potential to be utilised as a new institutional solution, automating this trust and security even when sharing data across institutions.

The full webinar is available for you to watch below. To find out more about the platform DB Results has developed with the RMIT Blockchain Innovation Hub, get in touch.