Why healthbank needs blockchain

healthbank’s core mission is the neutrality in managing personal health data – we believe that a lack of neutrality is one of the key reasons why national eHealth initiatives are slow and have severe problems in providing value to the patients as these initiatives are driven by several stakeholder in the healthcare industry. The main stakeholder, the patient normally has no active role.

We at healthbank, however, strongly believe in decentralized decision power and do this differently: through our unique structure of a Swiss cooperative, we can guarantee that no other stakeholders than the members (thus the people themselves) define and guide the strategy of healthbank. This decentralized power and decentralized trust are the most important design principles of healthbank.

Starting healthbank in 2015, we build our first technology platform. According to healthbank’s vision, the healthbank platform has to use architecture principles that support security and trust at scale – so we built it with highest level of security and scalability as the main architectural features with priority.

Today, the healthbank platform is completely end-to-end encrypted. And this is where distributed ledger technology comes into the equation:

The complex management of public and private keys is managed through ledger technology. healthbank’s transaction platform is prepared to scale virtually to a distributed system. As soon as we are ready and the underlying technology is stable and efficient enough, the next step into fully decentralized architecture building up even more trust in the system.

The very first part, where we use blockchain already from the beginning, is the management of ownership in healthbank cooperative. Therefore issuing equity, executing membership voting rights and paying out dividend is managed by a smart contract. This is the only way on how we can manage millions of co-owners with complete transparency and highest possible efficiency.

 

Therefore the healthbank model is only fully scalable on an worldwide level with blockchain. Even though the first steps have started when these technologies were not mature enough for scalable applications.

 

Author: Reto Schegg, CEO healthbank

 

This article is posted on https://www.healthbank.coop/#news and https://medium.com/healthbank

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