[English translation] Blockchain has limitless possibilities in the medical insurance industry

This time I translated into English an article not about Fintech but about Insurtech (insurance technology). I’m not familiar with the medical insurance industry at all, so I’m studying as well... Let’s read a bit. It’s short.

Blockchain Has Infinite Potential in the Health Insurance Industry

The use of blockchain technology in the health insurance industry has been under consideration for a considerable period up to now. Blockchain, a technology behind digital currency, possesses features such as immutability, security, and strong privacy, making it an ideal technology for protecting confidential information.

Until now, health insurance systems have been provided by a small number of vendors using traditional data management and communication methods. Providers of health insurance systems typically follow their own information handling standards, which has created obstacles when performing cross-platform work.