THE USE OF BLOCKCHAIN HAS BEEN EXTENDED INTO THE HEALTH CARE SECTOR

(http://google.com)

Research proves that blockchain services would really be helpful in the health care industry in these areas:

• providing a more effective and reliable information distribution among the parties involved
• providing anonymous data pools for research
• and as well reducing the amount of counterfeit drugs produced.

Prior to this research conducted, the co-founders of ZhongAn Tech plans to make a move towards reducing the risk and costs in the health care sector using blockchain technology.

ZhongAn Tech was founded in the year 2013 by the richest man in China, Jack Ma, who is also the founder of the Alibaba business group in China, alongside other 2 co-founderss Pon Ma Huateng of Tencent holdings and Peter Ma Mingzhe of Ping An Insurance.

Jack Ma still thinks Bitcoin is a bubble after addressing privacy and security issues using the blockchain potentials in most of his interviews with some journalists.

Chen Wei, ZhongAn's online tech unit chief in an interview stated that the firm has already started using blockchain for storing insurance policies that has to do with ZhongAn, online. He ended this statement by saying blockchain has a tremendous role to play in all sectors of the economy.

The firm (ZhongAn Tech) has succeeded in building a blockchain reinsurance platform in collaboration with the famous Shanghai insurance company in China.

Few days ago, i wrote about the speech made by the Chinese President, Xi Jinping where he referred to blockchain as a part of the new technological revolution.

Majority of the population in China has shown interest towards the blockchain development going on but their government has already placed a ban on ICO's due to the rapid growth of scam used, all in the name of conducting an ICO.