A third area ripe for transformation is electronic health records (EHRs). This application
has been the holy grail of healthcare providers, patients and insurers for decades. Until
now, initiatives have been held back by privacy concerns and network connectivity
issues. There are no immediate solutions ready to break through, but if stakeholders
could agree on a system incorporating blockchain, it would be a game changer for many.
Do Not Pave the Cow Path
How can companies prepare for a future based on blockchain?
First, they should look at blockchain from a business perspective. They should think
about applications that could benefit from the systematic transfer of information,
records or logs. They should examine chains of custody and chains of events. They
should come up with applications they can develop out of the box that create new pro-
cesses, rather than just “pave the cow path” by putting existing processes on a block-
chain platform.
Second, they should conduct education campaigns within the organization about what
blockchain really is and how it can benefit the company. Explain the difference between
blockchain and cryptocurrency. Separate the business prospects from the hype.
Finally, they should look into what other industries are doing to leverage blockchain
technology. Your company might be the first in your industry to take a serious look at
what blockchain can do, but firms in other industries will be testing it out. See how their
plans are shaping up and try to incorporate the lessons they are learning into your own
projects.
Conclusion
It may be years before blockchain takes hold in a big way, but that time is coming. Cloud
faced plenty of obstacles early in its history before emerging as an essential technology
for the future. Blockchain likely will, too, and earlier rather than later. The interest is
there, the energy is there and key companies are exploring ways to make it work.
WINTER 2019 | THE DOPPLER | 55