Which Verticals Will Benefit Most from Blockchain Technology?

May 15, 2018
by Josh Anderson

SAN FRANCSICO, CA — At CapRE’s Northern California Data Center Summit last month, we facilitated a panel called Blockchain & Data Centers: How Blockchain and Digital Currencies are Transforming Data Center Architecture, Design & Development, and Cloud Platforms. Moderator Ed Kimm, Vice-President for Cloud Solutions & Strategic Alliances at StrataCore, led the discussion, which eventually led to some broad questions about the benefits and potential of blockchain technology.

Derek Garnier, President & Chief Operations Officer for Evocative Data Centers

“When it comes to specific verticals, have you actually worked or seen certain blockchain practices for some of your customers today, or even third party, and how has it helped them?” asked Kimm to the two discussants on the panel.

There was a medical show that just aired and my better half was watching it, and 80% of the show was about blockchain and medical,” replied Derek Garnier, President & COO of Evocative Data Centers. “Because we’ve got the huge push for electronic medical records. And it has failed in so many ways, because traditionally doctor’s offices and pharmacies still use fax machines. Literally.”

“And here’s a huge push for this propaganda that came out about electronic medical records – saying it’s still not secure, and where is it?” he shared. “It still resides somewhere, but I don’t like the security around it. The idea behind blockchain is that the transactions are transparent but the security is inherent to the system. And it’s very easy to prove. So in the medical industry, it seems like they’re embracing blockchain incredibly fast. I would expect to see, besides the banking side, for being able to buy marijuana and stuff, I would expect to see the medical side as being the huge driver of blockchain for 2018 to 2019.”

Yeah, you know exactly who has looked at your file, your medical record!” chimed in Michel Chartier, President of Kelvin Emtech. “From the first one to the last one. So, you’re going to know that your insurance company looked at it, and for what purpose. And that is going to change the game completely.”

To sum up, Kimm took the microphone back to offer a conclusion. “It’s very interesting to hear both of your points, which are great points. Because I looked at blockchain technology similarly to how we looked at the cloud ten years ago,” he related. “Everyone didn’t know what the hell the Cloud was. Everyone was really hesitant to migrate their workloads to the Cloud, etc. etc. etc. I think that the same premise holds true for Blockchain — though I personally believe that Blockchain will adopt much quicker than cloud technologies.”

According to Kimm, this is because, similarly to Blockchain technologies, there are different types of Cloud, and no one Cloud fits everybody. “There is community, public, hybrid, bare metal private, virtualized environments,” listed Kimm. “It’s very similar to Blockchain. Blockchain on the healthcare side when you’re dealing with highly regulated industries and things like HIPPA, they deal with a lot of different types of personally identifiable information. So inherently there are a lot of different types of Blockchain to touch on. And these points remind me that there are private as well as public Blockchain as a service out there.”

“It’s important for everyone, especially commercial businesses and consumers alike, to understand the inherent differences to Blockchain,” he advised. “It is a transparent, visible, distributed ledger. But there is a private distributed ledger, which is permission-based, and there’s a public ledger, like Bitcoin, that’s publicly based. Everyone has access. Everyone can see each ledger. Everyone can see the immutable transactions taking place on the Blockchain.”

For more from Garnier and Chartier on blockchain, check out previous CapRE Insider Reports covering this panel:

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