IBM, Aetna, healthcare companies to create blockchain network

IBM, Aetna, Anthem, Health Care Service Corporation and PNC Bank are working together to design and create a blockchain network to improve transparency and interoperability in the healthcare industry.

Blockchain is described as a decentralized ledger of alltransactions in a network. Its applications in the healthcare space are stillemerging, but the technology remains a high priority for many companies.

Through the collaboration, the companies will create aninclusive blockchain network that serves as a secure and shared environment forthe healthcare ecosystem. The goal of the project is to create a space thatenables healthcare companies to build, share and deploy solutions that drivedigital transformation in the healthcare industries.

"Blockchain's unique attributes make it suitable forlarge networks of members to quickly exchange sensitive data in a permissioned,controlled and transparent way," Lori Steele, general manager forhealthcare and life sciences for IBM, said in a prepared statement. "Thefact that these major healthcare players have come together to collaborateindicates the value they see in working together to explore new models that wethink could drive more efficiency in the healthcare system and ultimatelyimprove the patient experience."

More members are expected to be added to the network,including other healthcare organizations, providers, startups and technologycompanies.

"We are committed to improving the healthcare consumerexperience and making our healthcare system work more effectively," ClausJensen, chief technology officer at Aetna, now owned by CVS Health, said in astatement. "Through the application of blockchain technology, we'll workto improve data accuracy for providers, regulators and other stakeholders, andgive our members more control over their own data."