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digital currency Tag

Jones Health Law > Posts tagged "digital currency"

Healthcare is the Next Cryptocurrency Frontier

What is Cryptocurrency? Cryptocurrency is a virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled. Bitcoin is the most popular cryptocurrency on the market but there are well over 1000 other “altcoins” in existence. The value of each cryptocurrency is largely speculative similar to stocks on an index. It has no intrinsic value or legal tender status and is only...

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Does Blockchain Belong in Healthcare?

Healthcare providers have been slow to implement blockchain into their practice. Providers are hesitant due to: (1) unfamiliarity with this technology and how it works; (2) some don’t see its practical application to healthcare; (3) others are employing the wait and see approach to determine if it is financially rewarding; and (4) some are put off by the lack of regulation, which could expose their patient records to cybertheft.   What is Blockchain? In 2009, blockchain stormed on the scene as the foundation for swapping digital currency. Blockchain is a permanent record of online transactions or exchanges that are logged publicly and in...

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