Aetna, Other Health Insurers Partner With IBM For Medical Blockchain

Health insurance giant Aetna, and IBM are partnering to create a new medical blockchain network. Blockchain refers to a list of records—known as blocks—that are linked together using cryptography, making them resistant to modification of data.

Specifically, the blockchain will be designed to process insurance claims and payments, in addition to managing directories. Joining Aetna and IBM in the health tech collaboration will be non-profit Health Care Service Corp. and Anthem Inc. The organizations anticipate that incorporating blockchain technology into health insurance will result in the removal of friction, duplication, and administrative costs that are often problematic . . .