PokitDok, a healthcare API company, announced on May 10 that they are teaming up with Intel to offer a healthcare blockchain service called “Dockchain
PokitDok, a healthcare API company, announced on May 10 that they are teaming up with Intel to offer a healthcare blockchain service called “Dockchain”.
The collaborative project means that Intel`s open source Hyperledger Sawtooth will be used as the underlying ledger. Apart from that, blockchain transaction requests are said to be processed at the chip level by the help of Intel chips.
The entire industry could be altered by this collaboration, as well as the broader consortium PokitDok, as Ted Tanner, CTO and co-founder at PokitDok, told TechCrunch.
Tanner added that his company is the first one to offer a working blockchain-healthcare solution. They have gotten on board not only Intel, but also a broad consortium of more than 40 companies including Amazon, Capital One, Guardian and Ascension, to name but a few.
Originally related to the cryptocurrency Bitcoin, blockchain technology is a digital ledger that can track any transaction in a secure and transparent fashion, as the publication noted. Dockchain is using this technology to apply it to the healthcare sector.
Last year, PokitDok has reportedly run a proof of concept on Ethereum solution. However, it is settling on the Intel`s Hyperledger Sawtooth ledger, which the company contributed to open source.
Dockchain provides basic functionalities such as identity management and “autonomous auto-adjudication”. The first one means validating that each party involved in the transaction is who they say they are. The second feature ensures that once the parties have been validated, the transaction between them can be processed instantly in a machine to machine communication that relies on previously agreed upon smart contracts, as the article explained.
“This is furthering history and software execution in the most pristine sense, completely executing at the hardware level. This is the first step in a revolution. It’s ready to happen and this will happen quickly.”, said Tanner.
His company is a 6-year old start-up with over $48 million in funding that has gathered a consortium of powerful companies. It prides itself in being a first mover, but it remains to be seen how their solutions will develop into the future.