Transcript Automatically Generated by YouTube:
0:00 - so there's two people who are not listed
0:02 - up here krill who you actually heard
0:05 - talk about blockchain that was this much
0:08 - over every single person's head but it
0:11 - makes a lot of sense and Juby who has
0:14 - done a lot of stuff on will call it on
0:15 - the payer side and blockchain
0:17 - which is kind of exciting we're gonna
0:19 - make this really interactive guys ask
0:20 - these guys questions I mean across the
0:22 - board
0:23 - big time investor really cool has done a
0:26 - lot of amazing things probably the most
0:28 - famous healthcare-related blockchain
0:32 - organization in the space first and what
0:34 - they did with Intermountain if you sit
0:36 - on your cell phones and you google the
0:37 - press release it's pretty freaking
0:40 - amazing to me
0:41 - this guy Lenny is at a small institution
0:44 - called hospital special surgeries has
0:46 - been in the health care space for a long
0:49 - time
0:50 - what's even amazing about him he's not a
0:51 - healthcare administrator he is started
0:53 - out as a nurse
0:55 - he's also an incredible inventor and
0:57 - he's done a lot of companies so you get
0:59 - to go hey Lenny how does this really
1:01 - play practically alright then we look at
1:03 - this lady Lexi right it's not only she
1:06 - advised companies on marketing and go to
1:09 - market she's helped more companies than
1:11 - anyone on this panel on creating icos
1:14 - right so awesome person to know right
1:17 - and then we talk Dubey which we
1:19 - mentioned before it you know for the
1:20 - payer side now krill you know obviously
1:23 - you know can actually design the
1:25 - blockchain for us and make us all go to
1:27 - sleep because it's so complicated and
1:29 - then charles creating a crypto hedge
1:32 - fund that is going to launch very very
1:34 - soon and is raising a lot of money which
1:36 - is pretty amazing this is it
1:38 - revolutionizes everything so now I look
1:40 - at this panel I go I am kind of humbled
1:42 - to be here alright I wanted us go down
1:45 - the line really quick you could
1:47 - introduce yourself tell job about your
1:49 - company no more than 30 seconds why are
1:52 - you excited about blockchain as you know
1:54 - say who you are and then why you're
1:56 - excited about blockchain your first you
1:59 - Mike and if you don't have one here we
2:01 - go
2:03 - I feel like Phil Donahue ah David Drake
2:07 - got my own family office we got involved
2:09 - with a crowdfunding and the JOBS Act
2:11 - 2011 and have a long history and
2:14 - building crypto and now have maybe 30
2:16 - different all coins and holdings in
2:18 - several millions in the space and we're
2:21 - LPS and GPS and fonts hedge funds and
2:23 - venture capital funds in the space
2:26 - that's amazing all right
2:28 - who knew you existed right now Frank I'm
2:31 - Frank pakoda I'm the CEO and founder of
2:33 - burst IQ and we're at health data
2:35 - blockchain company and we have solutions
2:37 - that are b2b or in and so we do we have
2:40 - solution for providers and large
2:42 - Hospital chains as well as b2c oriented
2:45 - for individuals and and employers she
2:49 - asks a question why my excited Bob
2:50 - watching everybody says it's disruptive
2:53 - I don't think it's disruptive I think
2:54 - it's foundational and foundational in
2:56 - the sense that I think it's going to
2:58 - radically change existing social
3:01 - political and economic economic systems
3:04 - in a way that we have yet to truly
3:06 - comprehend and that applies to
3:08 - healthcare because it's going to
3:10 - democratize data within health with
3:13 - which I believe is the is the wicked
3:15 - problem in healthcare and you're not
3:17 - just in blockchain you're you're like
3:19 - embedded in the block yes we will get
3:22 - into more that lennie and lennie change
3:24 - from Hospital for Special Surgery where
3:27 - the musculoskeletal health number one
3:29 - Orthopaedic Center in the world so why
3:33 - am i excited about blockchain primarily
3:36 - because of its ability to be a
3:38 - technology yeah I agree with everything
3:40 - Frank just said its ability to be a
3:42 - technology architecture that you could
3:44 - build upon to increase transparency
3:46 - interoperability and a ton of things
3:49 - that are elements to the healthcare
3:51 - system today so I'm excited because it's
3:53 - still early the entrepreneurial
3:55 - community which I have faith in in which
3:57 - I work with in with my role as a chief
3:59 - innovation officer I think we'll
4:02 - continue to fix problems for healthcare
4:03 - so I'm excited about it from that
4:05 - perspective awesome
4:06 - Lexington hi I'm Lexi Kier I work with
4:09 - startups looking to scale and grow
4:11 - specifically in the FinTech and health
4:12 - space
4:13 - and take a lot of companies through ICO
4:15 - I think the reason blockchain is the
4:18 - most exciting I'm working with a couple
4:20 - of large companies one in health one in
4:22 - telecommunications and one is a large
4:25 - credit card company and I think the way
4:27 - that it's forcing infrastructures to
4:29 - streamline is totally foundational to
4:31 - Frank's point and is streamlining a lot
4:34 - of the way that we handle data it's not
4:35 - just about money or currency it's also
4:38 - about you know creating really really
4:41 - streamlined elegant systems to allow
4:43 - data to move easily it's awesome and
4:45 - before we go to juvie now when we talked
4:47 - about before someone do an IC o---- and
4:49 - all these advisors on their board these
4:51 - are the seven you want on your advisory
4:53 - board all right so if I was starting an
4:55 - IC o---- tomorrow or a blockchain
4:56 - company I want these seven alright Jimmy
4:58 - hi my name is Jimmy George was a I'm the
5:00 - CEO and chief innovation officer for
5:03 - global health which is a company started
5:05 - last year with the few nurses and
5:08 - doctors and I am a nurse like Lenny here
5:12 - and I have about 20 plus years
5:14 - experience including 15 with the payer
5:16 - side that's I stumbled into blockchain 2
5:20 - years ago it was not something I
5:22 - originally from India so there was a
5:24 - request to help a company out of MIT
5:26 - with the helping farmers in Afghanistan
5:29 - Pakistan and India and now coming from
5:31 - farming community in India I was like
5:33 - alright I'll help you I didn't know that
5:35 - I was working on blockchain at that time
5:36 - from MIT I did and that's how I ended up
5:40 - in blockchain and hey I ran into like in
5:43 - the blockchain community the Federal
5:44 - Reserve is in there right now looking on
5:46 - what to do cuz that's the VP's several
5:49 - wardens are there one of the ball
5:52 - organizations that I belong into and the
5:54 - other revenue cycle that's national I
5:57 - was on the board meeting coming right
5:58 - out of a crypto currency event and I was
6:01 - just complaining about the Federal
6:03 - Reserve and they're like Jimmy why don't
6:05 - you do something about blockchain and
6:06 - revenue cycle because we don't know what
6:08 - it is but they think we can help so I
6:10 - was like alright let me see in Carroll
6:13 - was kind enough to help me with putting
6:15 - together presentation for this the
6:17 - revenue finance community a lot of CEO
6:19 - CFO's of hospital systems and insurance
6:22 - companies and employers who are
6:23 - self-insured
6:24 - there is a way for them to use that
6:27 - the instant payment so you as a patient
6:29 - will know how much you are old you don't
6:31 - have a bill after you know exactly how
6:33 - much it is and the doctor who prays or
6:35 - the hospital will get paid right there
6:37 - and then all right so we're not gonna
6:40 - introduce these two guys till we did it
6:41 - but I just want to start with you on
6:43 - that it makes me think do you think
6:45 - payers will embrace it what worthy it is
6:47 - and you know so on so you're very
6:51 - confident about this I come from that
6:52 - world I have designed some of those
6:54 - products and I know what a pain it is to
6:56 - go look up United Nations or contract up
6:58 - and say really there's a transcender
7:00 - that you can do translations you know
7:02 - like you can do certain procedures or
7:04 - how much does it cost how much are you
7:05 - willing to pay it's not easy
7:07 - it's documents and looking it up like
7:09 - hear me have a smart contract that is
7:11 - automated
7:12 - but Juby is that ten years from now is a
7:13 - five years now is it it's fitting all
7:17 - the advancements already taken all the
7:19 - insurance companies had to go through
7:20 - electronic advancement as part of the
7:22 - icd-10 all these things that we have
7:23 - done so there are ability for some of
7:26 - the contracts if it's an orange old
7:28 - 20-year contract from IBM you know may
7:31 - not happen but newer ones yes
7:33 - all right so Lenny the other sided for
7:35 - the institution are they gonna embrace
7:37 - it and more importantly are they ready
7:39 - or were they never be ready I think I
7:41 - think Frank's proved that there are some
7:43 - you know forward thinkers in the country
7:45 - I think there are anomalies right now or
7:47 - unicorns I think in the provider space
7:50 - and for the entrepreneurs and everyone
7:52 - in this room who's been in digital for a
7:53 - long time it's been an uphill battle
7:55 - right and that's because what this
7:57 - brings is you know crazy words like
8:00 - transparency and accountability and
8:03 - Trust and you know the self-preserving
8:05 - side and the you know fear you know the
8:08 - ignorance of healthcare executives could
8:11 - could create fear and if they create
8:13 - fear they could put barriers up and
8:14 - bottlenecks up so so agree completely I
8:18 - think that it'll infiltrate I think that
8:20 - it'll break through you know when I
8:22 - think of it I think of blockchain as
8:24 - just an ingredient it's a an ingredient
8:28 - that could be wrapped with other
8:30 - technologies to improve efficiencies and
8:33 - create you know trust and establish a
8:36 - lot of new thinking in the
8:38 - entrepreneurial community when
8:40 - that comes to the provider I fear that
8:43 - there'll be a lot of pushback you know I
8:46 - do think I do think though that from the
8:48 - speed that it's moving at and you know
8:51 - from from the you know from crypto kind
8:55 - of bringing it up that could be a pro
8:57 - and a con on one side it could add fear
9:00 - and ignorance and then you know it's up
9:03 - to us to start to educate the provider
9:05 - side to embrace it and I think it's
9:08 - really important that the entrepreneur
9:10 - is not just lead with blockchain as it
9:12 - being the entire right the entire meal
9:14 - again it's a simple ingredient that we
9:17 - have to embrace and anyone on the panel
9:19 - if you want to jump in on anything
9:20 - anyone else is in the panel let's do
9:22 - that because that makes it really
9:23 - exciting interactive but before you jump
9:26 - on because let's do the other side of
9:28 - healthcare all right so burst all right
9:30 - you told everyone is about Lennie's
9:32 - impressed by it everyone's talking about
9:34 - it
9:35 - I mean Intermountain paid attention to
9:37 - what the blockchain and how it can save
9:40 - my my numbers we run 89 million dollars
9:43 - or something crazy like that yeah why
9:46 - did they embrace it I mean and why were
9:48 - they forward-thinking we're
9:50 - traditionally health care has always
9:52 - been a couple steps behind you know ten
9:54 - years ago there was no such thing as a
9:55 - chief innovation officer at a hospital
9:57 - there was no health care system that
9:58 - invested and now I don't think there is
10:00 - a real institution in the world that's a
10:03 - health care that doesn't invest why do
10:04 - you think that they were fast moving
10:07 - into this well it goes back to that data
10:10 - problem and there's two aspects to the
10:12 - data problem that's traditional which is
10:14 - access and understanding both both are
10:16 - key and both both are very tough and
10:18 - data in health is very very dirty so all
10:21 - you digital health companies out there
10:22 - you know how hard it is to connect to a
10:24 - system and then even even translate how
10:28 - they program everything even if it's
10:30 - epic and Epping and epic that's a
10:32 - problem so they saw they saw an
10:34 - opportunity to solve that problem by
10:37 - driving things into into a common
10:39 - platform with all the features we talked
10:42 - about immutability and being able to
10:44 - audit and then replicate it for other
10:46 - systems so that's what we're doing with
10:49 - a company that they spent they spun out
10:51 - called empiric health they're going to
10:53 - replicate
10:53 - a number of large hospitals and we have
10:56 - others coming on the platform but the
10:58 - other part of it when you start
11:00 - forward-looking
11:01 - data in health is currency its currency
11:04 - data about you how you feel what you do
11:08 - is the currency that's driving the next
11:10 - generation of health and health
11:11 - engagement not just when you're sick and
11:13 - you're to hospital not just when you're
11:15 - seeing your doctor but every day and all
11:16 - the time and and the ability to capture
11:19 - that in a longitudinal view makes the
11:21 - quality of interaction a heck of a lot
11:23 - more more meaningful as well as it lets
11:28 - let you do stuff with your data putting
11:31 - you back in control your data will
11:33 - fundamentally change our health delivery
11:36 - system from an economics and cost
11:38 - perspective and they recognize that as
11:40 - well as some of the other leading
11:42 - providers starting to recognize that
11:44 - that the relationship with you is is the
11:47 - most important thing they have on their
11:48 - agenda awesome Signet David I'm going to
11:50 - jump to you and to Charles at the same
11:52 - time plenty can you give him the
11:53 - microphone um so as an investor yes when
11:56 - you hear health I want to talk about a
11:58 - couple of case studies that's well you
12:00 - know we have about 40 different
12:02 - investments in all corn and pre I see oh
12:05 - how many hunger actually at least two
12:08 - okay good I can only remember two right
12:09 - now I'm gonna use some examples
12:12 - Robo met out of Moscow when a young
12:14 - entrepreneur in his 30s got six
12:16 - hospitals about 20,000 square feet each
12:18 - and he realized that in Russia he's
12:21 - getting a lot of clients who are the
12:24 - kids of the parents who are not insured
12:25 - good 40% of his revenues coming from
12:28 - there so he's using blockchain
12:30 - technology to do the backend solutions
12:32 - and he's only wanting to expand into
12:34 - developing countries does one go to
12:36 - Europe or the u.s. because it's too
12:37 - efficient too much competition but the
12:40 - uninsured without insurance is where
12:42 - he's expanding into so he's running
12:44 - around now gonna run Europe and Asia
12:46 - racing capital for it but I kind of like
12:48 - that blockchain on the back end it's b2b
12:51 - the consumer doesn't see it and he's
12:53 - finding out that his clients are you
12:56 - know the kids booked an appointment
12:58 - through the phone for the parents and
13:00 - walking them into the hospital paying
13:01 - cash so he wants to make an efficiency
13:04 - right there a beautiful solution that
13:06 - you know
13:07 - I wasn't aware of and he's seeing an
13:09 - opportunity in it in other groups i'm
13:10 - working with and took in case the case
13:12 - has taken his salt care now a product
13:15 - goal was this chief investment officer
13:17 - for Blue Shield across so he has quite a
13:21 - you know I'm on the board with him and
13:23 - you know congressman and some other
13:25 - people on it and you know he saw the
13:28 - shortcoming in the insurance business in
13:29 - the health care and he's going out in a
13:31 - big way to change that and he didn't
13:34 - pick blockchain to find a problem he had
13:37 - a problem and he felt that blockchain
13:39 - allows that forensic accounting system
13:41 - to track everything properly you know
13:44 - going back to you know Robert Robbo med
13:46 - you know the payment system on the back
13:48 - end would be hey this person you can
13:50 - only get paid if you do this solution in
13:54 - the hospital so you're not gonna get
13:55 - your arm amputated by accident because
13:58 - that's not what it's being paid for that
13:59 - gives you another way to you know make
14:01 - sure they're less mistakes in the system
14:03 - and also the blockchain allows you to
14:05 - transact instantly there's no invoicing
14:07 - or collection it's paid instantly that's
14:10 - a part of the smart contract which makes
14:12 - that more efficient so as an investor
14:14 - you know I'm seeing more more in this
14:15 - space but it's hard for you know the
14:17 - crypto community to embrace this because
14:19 - you know you know this coin with Satoshi
14:22 - Bitcoin star in 2009 it was for the
14:25 - anarchists a little libertarians for the
14:27 - ones saying hey we don't want government
14:28 - to control it it's for the people for
14:30 - consensus now it gets diluted you see on
14:34 - the news all the time because we're
14:35 - trading it I mean I work with Charles
14:37 - and we're friends and you know you know
14:40 - and you know I see that you know
14:42 - everybody's asking me well it's a bubble
14:44 - it's not a bubble well I think we need
14:46 - to look at the layers he started out as
14:48 - a software solution decentralized it
14:51 - wasn't start didn't start out as a
14:52 - trading speculative opportunity but now
14:55 - it's before exchange people jumping into
14:57 - it and traders and hedge funds and the
14:59 - trading it an act and behaving
15:02 - differently for what the intention was
15:04 - so I think we need to look at it a
15:05 - different strata of what is going on so
15:09 - in your career as an investor obviously
15:11 - didn't start off and investing in crypto
15:13 - is this the coolest time yes it's too
15:17 - cool this time I mean I'm advising and
15:19 - invested in so many rights I get
15:21 - see behind the doors of the failures
15:24 - successes the players where they
15:26 - incorporate where they start where they
15:28 - go the regional players in Japan and
15:30 - Korea and China because there's a
15:32 - language issue in barrier versus Russia
15:35 - and Europe and you know I get my finger
15:38 - on the pulse what's happening globally
15:40 - awesome I'm gonna come back to you in
15:42 - one second but now I want to jump to
15:43 - Charles real quick so pile on what do
15:46 - you what do you know what are you
15:47 - looking at what do you think about the
15:49 - investment part of this yeah I also I
15:51 - would add and I didn't know you guys
15:52 - were friends when I pay a panel I said I
15:55 - was doing some matchmaking and I wasn't
15:57 - I would say the crypto world is still
15:58 - very small so we all tend to know who's
16:02 - in this world I would say that I think
16:05 - what was said earlier was that your data
16:07 - is like a form of currency right and so
16:09 - I could see how this can be used with
16:12 - medical records where you have control
16:14 - of your medical records so then when you
16:17 - go to another doctor you don't have to
16:18 - do another x-ray or another procedure
16:20 - like they already have everything right
16:23 - because you give them access to it and
16:25 - also you know just transparency on how
16:29 - much is it gonna cost for me to go to a
16:30 - doctor I think one of the issues I
16:32 - always been kind of have kids go to the
16:34 - doctor they can't tell me how much I owe
16:35 - they send me a bill afterwards and
16:38 - sometimes it's shocking what the bill is
16:39 - so that's where I think blockchain can
16:42 - be used but also I think what David was
16:44 - hinting at I don't know if you caught it
16:46 - was that a lot of times these the best
16:49 - systems are the ones where you don't
16:50 - even need to know the blockchain is
16:52 - granted use right there's a company
16:54 - called bit paisa
16:55 - where it helps you move money from here
16:57 - to Africa really cheaply like very low
17:00 - transaction costs versus Western Union
17:02 - and they use Bitcoin does it work in
17:05 - Zimbabwe by the way mmm does it work in
17:07 - some bother you don't know country I
17:11 - want to look at that if it does that's
17:13 - good I do send it I do send money to
17:15 - somebody for some reason okay you know
17:18 - what I'll check that now I know it's
17:20 - certain select African countries but
17:22 - they're using Bitcoin and you would not
17:23 - even know it right um and I think that's
17:25 - where the development of this technology
17:27 - is important in that the user experience
17:29 - gets a lot better that's awesome and I
17:31 - love that have the two financial guys
17:33 - who have all the money on the two ends
17:34 - and before
17:35 - we ask your question I got to bring it
17:36 - into the middle of Lexi so now Lexi all
17:39 - right they found some ideas they did
17:41 - like we're gonna we're gonna come up
17:42 - with an idea to do an ICO how do I do it
17:46 - and why and how important is a white
17:48 - paper and is it as important as it used
17:50 - to be and what do you advise someone I
17:53 - have this great idea before I go see
17:55 - David and Charles what do I have to do
17:56 - so I think we just before I fall my
18:03 - papers are extremely important I think
18:04 - everybody needs to understand that I see
18:07 - those are just a new type of funding
18:09 - it's not you know this isn't like
18:11 - revolutionary a couple years ago this
18:13 - whole bubble happened around
18:14 - crowdfunding this is basically just a
18:16 - different version of that so I think
18:19 - once you realize that the the you know
18:21 - the fundamental thing is what is your
18:23 - value proposition and literally what is
18:25 - the offering like why are you even on
18:28 - blockchain does it need to be
18:29 - Charles was saying some of this it's
18:31 - terrifying to see some of the typos all
18:33 - over different white papers I also have
18:36 - a development background so I actually
18:37 - look at the code base a lot of them are
18:39 - literally forking aetherium and adding
18:41 - on a little something and it's not
18:43 - unique so it needs to actually be using
18:46 - blockchain for a particular utility it's
18:49 - not worthy of investment just because
18:51 - it's something that's somehow related to
18:53 - blockchain and to David and Charles can
18:56 - you raise money on it and Lexi and
18:58 - anyone on the panel can you raise money
19:00 - on just a white paper anymore totally I
19:03 - mean I have a client that did a nine
19:05 - million dollar you know white paper only
19:07 - how long ago was it like six weeks okay
19:11 - I mean it's totally doable it's but it's
19:13 - but they're a really amazing company
19:14 - they're actually connected to healthcare
19:16 - they were they an existing company
19:17 - before no okay and it's a great case
19:21 - story they they're called modem and they
19:23 - basically work with IOT there's a strong
19:25 - application to healthcare they have a
19:27 - lot to do with sensors so you can
19:29 - basically track the temperature of the
19:33 -particular use case within healthcare is
19:34 -they did a beta with a bunch of
19:36 -containers and ships trying to make sure
19:39 -that really expensive medicines that are
19:41 -being sent overseas don't cross a
19:43 -certain temperature threshold the idea
19:45 -being that the efficacy drops
19:46 -dramatically
19:48 -so if you're getting a shipment of
19:49 -incredibly expensive medicine at a
19:51 -hospital and you're about to give it to
19:52 -patients can you have you know some sort
19:55 -of an app that shows you literally the
19:57 -temperature over the past six weeks that
19:59 -it's been on the sea that's a really
20:02 -strong use case so that's a great
20:03 -example of a company that has healthcare
20:05 -applications it's touching IOT I get
20:08 -really scared when I see things that
20:10 -just drop blockchain is like their key
20:12 -value proposition that's blockchain is
20:14 -just a platform like this is just a new
20:16 -system I super advised all of you guys
20:18 -if you haven't to actually look at what
20:20 -a blockchain is Crill probably can be
20:23 -super helpful here but literally it's a
20:25 -chain of blocks like all the data gets
20:28 -saved in in a new block so it's
20:30 -something that updates constantly and is
20:33 -uncorruptible and it's everywhere so
20:35 -it's this new distributed storage
20:37 -approach that will drop all of your
20:39 -cloud storage that you're paying to
20:41 -Amazon or wherever now could be
20:43 -distributed but once you sort of
20:44 -understand that that as a buzzword isn't
20:47 -important then there's some interesting
20:51 -back to a question I had this question
20:54 -asked to me a couple days ago
20:55 -I was on the board and took his taken
20:57 -Ambrosius erased thirty five million
20:59 -over the summer there do the same
21:00 -they're pursuing the same area of
21:02 -Internet of Things for medicine being
21:05 -tracked from beginning to end you know
21:07 -pressure light perforation temperature
21:12 -etc and I think there's space the
21:14 -question was can you know can how many
21:16 -companies can do the same thing here
21:18 -somebody may race nine million I think
21:21 -you can have you know maybe thousands of
21:23 -companies one day doing just a supply
21:25 -chain talking to a trucking company you
21:27 -want to do the same thing in and of
21:28 -things you have food that's endless
21:30 -freight forwarding it just keeps going
21:33 -and it's regionally based I mean
21:34 -Mondelez and I think it was dull and
21:36 -Mondelez a couple of large CPG companies
21:39 -got together to create a supply chain
21:41 -basically to make sure that when you get
21:43 -your Capri Sun you can track if there's
21:45 -a recall exactly where was that Capri
21:48 -Sun but you know in the entire chain of
21:50 -where it's been can we follow it and
21:52 -make sure that we know what batch it
21:53 -came from
21:54 -so there's definitely going to be
21:55 -competitive you know offerings in the
21:57 -same kind of area they all are shaking
22:00 -out really what they do just like any
22:01 -new
22:01 -company so I think it's just about
22:03 -execution on these ideas to be different
22:05 -the only thing in healthcare we have to
22:08 -remember what Carol mentioned in his
22:10 -presentation earlier is this what is
22:13 -driving is and what I love the
22:14 -inter-mountain to do what they did is
22:15 -807 our fire technology which is the
22:19 -United States government has a 10-year
22:21 -US Office of government
22:24 -IT ONC have a ten-year plan and you have
22:28 -to comply
22:29 -Intermountain runs the backend of epic
22:32 -and Cerner two main EHRs so whatever
22:36 -happens Intermountain that's carried
22:39 -into the epic and Cerner yeah Frank
22:41 -smiling so epic is now going to go into
22:45 -revenue cycle billing they starting to
22:48 -try it
22:49 -Frank anything you wanted yeah well I I
22:52 -think that that's a fair statement
22:53 -there's a lot of established standards
22:55 -within healthcare in terms of access and
22:58 -and ONC has been trying to deal with the
23:00 -interoperability and are there
23:02 -approaches hey I'm gonna standardize all
23:03 -the data elements which I believe will
23:05 -never happen so you still have to deal
23:07 -with that from a different perspective
23:08 -but reducing the friction in terms of
23:11 -data exchange and data access is is
23:14 -where a lot of this lot of what we're
23:16 -talking about fits in its the data
23:17 -between systems and pulling data out of
23:20 -those systems but I think it's also
23:22 -important to know we've been talking
23:23 -about blockchain as a piece of
23:25 -technology too many people equate
23:26 -blockchain to an actual currency like
23:29 -Bitcoin is blockchain or blockchain is
23:30 -Bitcoin that's so far from the truth our
23:33 -big blockchain is one piece of
23:35 -technology that's not true either
23:37 -blockchain is really a way of doing
23:39 -things you know and an approach and a
23:41 -philosophy for doing things that really
23:43 -democratizes a lot of things and
23:45 -transactions in many ways and changes
23:48 -the whole trust relationship between
23:50 -individuals and between organizations
23:52 -and I think you're gonna see a lot of
23:53 -changes in the technology itself you see
23:56 -a lot of these guys that that were
23:57 -successful what they're I see are
23:59 -focused on the protocol layers within
24:01 -blockchain then you see a tremendous
24:02 -amount of innovations but I think you'll
24:04 -see the biggest companies emerge at the
24:06 -application level that utilizes embedded
24:10 -that it's transparent but it lets you do
24:12 -something you just absolutely can't do
24:14 -without it
24:15 -right so this is for the second time in
24:18 -human history there is a technology can
24:20 -drive social and economical aspects of
24:24 -our lives and when we say blockchain
24:27 -this is kind that that's a little and
24:29 -big is because there are two different
24:32 -terms distributed ledger technologists
24:35 -that typically been used by financial
24:37 - organizations and blockchain which is
24:40 - cryptocurrency so we have to make this
24:42 - really clear and separate our technology
24:44 - from its writings and investments I want
24:50 - to jump I want to take your question but
24:52 - for someone to ask Lenny a question so
24:54 - all day every day at HSS part of your
24:58 - job is people come and they pitch ideas
24:59 - why you should either invest in my
25:01 - company or white HSS should actually use
25:04 - us in their workflow hab kein started
25:07 - coming in do you see it are you starting
25:09 - to get a hint that people are gonna
25:11 - start coming and again not using
25:12 - blockchain is Washington put crypto type
25:14 - companies I'm gonna give them a mic yeah
25:18 - it's it's starting it's trickled in I'd
25:21 - say three or four companies over the
25:23 - last two months have approached and
25:25 - again you know I stand in I stand in the
25:28 - fray I stand between two cultures the
25:31 - entrepreneurial community and the
25:33 - healthcare executives and you know the
25:35 - big issue here is about education
25:36 - translation and helping helping not not
25:41 - me and not my team but the rest of the
25:43 - organization the rest of the c-suite
25:45 - understand and accept it well and I
25:48 - think everything that that you're
25:50 - hearing up here today you know talks
25:52 - about not putting it at the front and
25:54 - center as well so some of the companies
25:56 - are doing that and it's making
25:57 - executives react that's my biggest fear
26:00 - all right another tiding question you
26:02 - don't have to answer if you don't want
26:03 - it if you took the ten biggest hospitals
26:05 - and hospital systems in the country how
26:08 - many of you think are sitting in a
26:09 - boardroom like today or any day even
26:12 - talking about this or is it not even
26:14 - there yet for the most part I don't
26:16 - think at the executive level it's there
26:18 - yet I think you know we've seen with
26:21 - what Frank's done and a few others we've
26:23 - seen one or two good examples out there
26:25 - but but a conversation like this or even
26:28 - a fraction
26:29 - it isn't happening so you know that
26:32 - that's one of the that's one of the
26:34 - downsides of it being new it's also one
26:36 - of the most exciting things because
26:37 - there because it'll release innovation
26:39 - and creativity within the entrepreneurs
26:41 - jump in real quick I'm sorry then yeah I
26:43 - just want to add that I actually know
26:45 - someone who's an executive of fortune
26:47 - 500 company and they're talking about it
26:50 - but they don't know how to what to do
26:52 - right that that's really the biggest you
26:54 - start now it's still so new there's a
26:56 - lot of risk with it also when you hear
26:58 - about Bitcoin a lot of people still
27:00 - associated with SiC Silk Road drug
27:03 - dealers like hired assassins so it has
27:06 - that negative connotation right and it's
27:08 - we got a view away from that right like
27:10 - and I think that just takes time and
27:13 - that's what's the biggest opportunity
27:14 - right other thing is you know tor to
27:17 - what everyone's talking about today
27:18 - there's a loss of control right so again
27:21 - I'm standing in the middle I'm speaking
27:22 - from both sides right
27:23 - but for healthcare executives for
27:25 - institutions for their you know GCS
27:28 - right and and the risk side of it you
27:31 - know what this is saying is we're going
27:33 - to give up control that's scary to the
27:37 - traditional healthcare environment on
27:38 - the provider side and and if anything's
27:40 - proved that it's been the last 10 years
27:42 - of digital companies pushing boulders
27:44 - uphill right to try to change things in
27:46 - the provider side ace could we get a
27:49 - microphone over here since the state of
27:51 - Illinois put their medicaid already in
27:54 - blockchain right now so the medicaid
27:57 - pre-certification and credential is
27:59 - completely on blockchain right now state
28:01 - of Delaware Medicaid also did blockchain
28:04 - so you have to realize that there are a
28:06 - lot at FDA and might be and Watson
28:08 - blockchain already on drug to drug trial
28:13 - you know those drug trials or approvals
28:16 - so there's so so many blockchain work in
28:19 - the background that is know
28:21 - cryptocurrency knowbut going just the
28:23 - technology which is these databases or
28:25 - Excel spreadsheets that you imagine are
28:27 - talking to each other they're updating
28:29 - all at the same time that's it that's
28:31 - great answer and I also think the reason
28:34 - why I think it's gonna grow faster in
28:35 - healthcare no less a digital health grew
28:37 - is because there's a financial element
28:39 - to it where digital health it was like I
28:41 - why am I gonna do it makes late
28:43 - maybe easier but all of a sudden in this
28:44 - whole world the crypto is there's a
28:46 - financial upside or potential financial
28:48 - upside which makes people in the c-suite
28:50 - pay attention to it because if they're
28:53 - not invested in like they are in the
28:55 - stock market now I could actually make
28:57 - the bet within the next year to 18
28:58 - months
28:59 - most people any wealth are gonna be
29:01 - invested in it at least that's my guess
29:02 - and I think you're totally right I mean
29:05 - it's gonna come in through finance
29:06 - operations Rev cycle that's gonna be
29:09 - where it infiltrates the provider space
29:11 - and then we'll see how it moves through
29:13 - the clinic's david and charles so happy
29:15 - alright ask your question awesome I'm
29:17 - gonna stand up I'm sure when I'm a
29:20 - physician here I've been thinking about
29:21 - this for literally last year and have
29:22 - been looking for blotching experts and
29:24 - now I have seven of you in front of me
29:25 - so from a physician standpoint and have
29:28 - to go in 15 minutes so this is like a
29:29 - free-for-all idea from physicians
29:32 - standpoint seems like the problem in
29:33 - this system is that the sickest people
29:36 - who need medical care don't have the
29:38 - money right so instead of using Bitcoin
29:41 - I was thinking maybe we should start a
29:42 - system called health coin which actually
29:44 - correlates with the degree of illness
29:46 - anybody who's ever run ER knows that the
29:49 - most amount of resources money and women
29:51 - and manpower it goes to a sickest
29:53 - patients we don't do that in this
29:54 - country right so I'm thinking instead of
29:56 - a cryptocurrency which is equal to money
29:58 - or finance we actually have a health
30:01 - currency which is equal to the degree of
30:03 - illness per patient because you really
30:06 - don't need a doctor when you're well you
30:08 - only need a doctor when you're sick and
30:10 - most people when they spend money within
30:12 - their life on health care dollars it's
30:13 - really the last six months of their
30:15 - lives right so just want to ask Frank
30:18 - yeah that's not really what I mean not
30:21 - exactly but it's not what burst is going
30:22 - to enable you to do if it's on 80
30:24 - million phones yeah I mean we actually
30:27 - created cryptocurrency it's not fully
30:29 - released yet but we we have a
30:31 - relationship with one of the largest
30:32 - mobile carriers to put a crypto and a
30:34 - health wall on the phone and let
30:36 - individuals transact with that and we
30:38 - tie crypto to data and data value but
30:41 - the other aspect of that is the social
30:43 - the social impact side of it as well yes
30:45 - I can allocate more more quote tokens to
30:49 - individuals who need it and I can do it
30:51 - as a person in addition to the system
30:53 - itself and and and lifting each other up
30:56 - and I think
30:56 - in in this world we can change the
30:59 - fundamental paint payment and economics
31:01 - of health why because we're empowering
31:04 - the person and people to make decisions
31:07 - and and let resources and access flow to
31:09 - those who need it that's the real
31:11 - long-term change that that just enables
31:14 - using mic yeah physicians are critical
31:19 - the only thing is you have to partner
31:20 - with the physicians because the main
31:22 - people can decide whether patient really
31:23 - that sick or not is a doctor or nurse or
31:26 - you know but somebody who can have that
31:28 - treatment yeah it's about making it
31:31 - personal again between the physician and
31:32 - the person we can do that and we can
31:35 - able that then we start changing who
31:38 - have done the analytics and the whole DS
31:41 - design and AI work I would say it's
31:43 - already the base work of what you need
31:45 - is already available which is risk
31:47 - scores various is a good company that
31:50 - you buy everybody buys a score from on
31:52 - every human being in this country you've
31:54 - you ever had an insurance health
31:56 - insurance that is our HCC score which is
31:59 - what Medicare provides on you so that
32:01 - you are X times more a higher risk of
32:05 - our healthcare cost I just want to add
32:08 - so because I'm on the opposite end of
32:10 - that because it's been used by payers to
32:13 - determine what your premiums are going
32:14 - to be and what you will and won't get I
32:16 - don't think that's right from a lot of
32:18 - perspective I think using your personal
32:21 - health score and health profile if it's
32:24 - yours and you're able to transact with
32:26 - it can fundamentally change the
32:27 - economics I disagree from the payer side
32:31 - having done all these analytics because
32:33 - pair is the one who pays for everything
32:34 - they get all the data not just doctor
32:37 - one doctor to doctor three or the person
32:41 - that they're covering but they don't get
32:43 - all their data we want to answer more
32:46 - questions and we will scheduled the cage
32:48 - match and a debate that bastard
32:50 - and the winner is gonna get funding
32:56 - right idea you go to Lexi you go to Lexi
33:02 - hire her company to help you with it
33:04 - then present it to these guys on the end
33:06 - and then after it's done go to Lenny's
33:09 - company or is health care organization
33:11 - and present it and see if they'll do it
33:12 - and make sure it's up all right let's
33:15 - hear your question okay my name is
33:17 - Francie grey I'm here as a patient
33:19 - advocate and I'm also here monitoring
33:22 - everybody's comments on Twitter so I
33:24 - have two questions from me and two from
33:26 - the audience and the first one is to
33:31 - David right yeah how do you think this
33:35 - will improve accuracy and Frank how will
33:40 - this help the big gorilla
33:43 - interoperability oh let me star in that
33:47 - bit back to basics I guess you know you
33:49 - have a software says we will pay you
33:52 - when you do this and automatically goes
33:56 - into the smart contract so the count
33:59 - ability and the government is built into
34:01 - the software and it makes it much faster
34:04 - than skipping all the middlemen is that
34:07 - when the medical record says cut off
34:10 - your left foot but it's really the right
34:12 - foot stuff like that errors in the
34:15 - medical record so you think it will that
34:17 - help accuracy will it help accuracy you
34:19 - were you were mentioning that you know
34:21 - the blockchain would say the blockchain
34:23 - this is paying for this service and
34:28 - unless you do that right service you're
34:31 - not gonna get paid so it's written into
34:32 - the software but the human error would
34:34 - be always the person the human being who
34:36 - reads the documents and cuts the leg off
34:38 - so pretty much the same it's neutral on
34:42 - that so Frank what about
34:44 - interoperability the thing that everyone
34:47 - argues about all the time and we all
34:49 - have our favorite villains it sounded to
34:53 - me like you thought maybe this would
34:55 - help with that yeah interoperability is
34:57 - access and understanding both and so the
35:00 - a lot of the traditional players out
35:02 - there who making a whole lot of money
35:03 - health IT is a trillion dollar
35:05 - business have a vested interest in
35:07 - maintaining their their data islands
35:09 - because that allows them to control and
35:12 - and manage their customer base I'm not
35:14 - talking about the hospitals and
35:15 - providers I'm talking about the vendors
35:17 - that support them the government the
35:20 - government can can push for change and
35:22 - there's meaningful use standards that's
35:24 - going to happen the hospital's
35:27 - themselves can push for some change in
35:29 - interoperability we see some some good
35:31 - examples of hie s physician certified
35:35 - health professionals there's a
35:36 - million-plus of them can put can push
35:39 - can push for change but there's just in
35:42 - the u.s. there's 350 million individuals
35:44 - so if we can get what's relevant to you
35:47 - as a person and have that data that's a
35:49 - longitudinal view over time that's going
35:53 - to solve a whole lot of interoperability
35:55 - problems versus versus you know the
35:58 - approach is I'm going to create one big
35:59 - massive database in the sky I see a
36:01 - future where each each and every one of
36:03 - us have our own personal health watching
36:05 - doctors would consider that to be the
36:08 - record the record because they're
36:10 - putting data in their question
36:13 - let's just take one more from the
36:14 - audience because physically here we have
36:25 - but then like you want to stand up yeah
36:29 - and we had to get you a microphone so
36:32 - you know what oh one second I'm gonna
36:35 - help you you got it hi my name is dr.
36:43 - Carol Derek EC and I'm an emergency
36:45 - physician my question is this so if I
36:48 - have this block chain of information is
36:50 - it organized in any way or is it just
36:52 - one thing after another and I have to go
36:54 - through all of it to figure out what's
36:56 - going on or is it something that has
36:57 - notes here labs here procedures yes sir
36:59 - so government has put a framework on it
37:02 - it's called hl7 firefigher and that's
37:04 - what block seen and epic everybody's
37:07 - good to have it said it follow that
37:08 - format so it is organized in a
37:10 - standardized format going forward not
37:12 - back
37:15 - ghr or whatever but it'll have forms
37:20 - that are not faxed in where you can't
37:21 - read things it'll be yeah but blockchain
37:26 - doesn't solve that problem you know
37:28 - block chaining in and of itself is this
37:30 - long data file like everybody talks
37:32 - about it gives you no real real advanced
37:35 - data capability in terms of data
37:37 - analytics and and most people are
37:39 - dealing with health data are putting it
37:41 - off chain and writing validation hashes
37:44 - back in the chain it's going to change
37:46 - over time we're doing some of it we're
37:47 - actually putting it on chain but some of
37:50 - the protocols allow you to do it in
37:52 - terms of a structured way but again it's
37:54 - a very very dirty dirty system and I
37:57 - think I think you're going to see things
37:59 - accelerate faster on on some of the
38:02 - machine learning and semantic learning
38:04 - and structures that allow easy access
38:07 - and understandable access to that to
38:09 - that data that just doesn't exist in
38:11 - common data common data protocols great
38:14 - answer question so friend again I'm
38:16 - speeding you guys up because I want to
38:17 - get that many questions in our final
38:18 - frame this is based on something you
38:20 - said we've got for Frank the way Dan
38:24 - piaj with data art so I agree with you
38:28 - that each patient having a longitudinal
38:30 - view of the their patient data on a
38:32 - blockchain is kind of like you know it's
38:35 - almost the moonshot in some sorts
38:37 - because then you can do all sorts of
38:39 - things with it for instance give it off
38:41 - to pharmaceutical research and let them
38:44 - access it and maybe they pay you it
38:46 - could be all sorts of things done on top
38:48 - of this but to do that that means that
38:52 - everybody has to give up their data and
38:55 - it has to become a public blockchain
38:57 - who's gonna maintain it who's gonna
39:00 - actually pay for that and how is it
39:02 - gonna happen in your view because it's
39:04 - not going to be one company owning it
39:06 - it's gonna be millions and millions of
39:07 - nodes out there with duplicated copies
39:10 - of everybody's data yeah well I think I
39:14 - think you hit some of the fundamental
39:16 - problems in existing implementations of
39:18 - the technology all the data is
39:20 - replicated across the chain and I think
39:22 - that's going to change because that's
39:24 - there are two things that we address
39:26 - from a technology perspective is
39:28 - is one is how do you deal with multiple
39:30 - security zones within a blockchain and
39:32 - access to that data multiple levels
39:35 - without having to fully replicate it
39:36 - across the entire environment the second
39:38 - is how does it run like a big no sequel
39:41 - engine instead of a big flat file
39:42 - database and and when you start when you
39:45 - start democratizing and shifting the
39:47 - ownership of it and how its represented
39:49 - it you know who runs the internet all by
39:53 - itself nobody runs the internet all by
39:54 - itself yet yet we've seen these
39:56 - tremendous applications get built on the
39:58 - internet all the way from e-commerce to
40:01 - to these massive social networks and
40:03 - that I think that's what blockchain can
40:05 - enable perfect there are three types of
40:11 - blockchain the Bitcoin is public then
40:13 - these private equity stuff that could
40:16 - all have a lot of exposure to is private
40:19 - and then health care it's consortium
40:21 - it's a hybrid where a group agrees to be
40:23 - join a private network there's different
40:25 - permission levels so exact it wouldn't
40:27 - be like all the data is pooling
40:28 - somewhere we don't live in hospitals or
40:41 - doctors office you have a whole lot of
40:43 - other data it's got to be when we talk
40:44 - about it being transparent you know to
40:46 - to to the system it's transparent to
40:49 - your life when you use your phone to you
40:50 - on some of the apps do you care where
40:52 - things are you don't care I mean most
40:55 - people don't use in the app using the
40:57 - app we created for trust right now and
41:16 - there are solutions out there solve this
41:18 - by working with the CTO Microsoft in
41:21 - Europe he's doing validation solutions
41:23 - on how to do it privately
41:25 - so here's question I mean we got a
41:27 - question that refer to a business that's
41:35 - where it should be
41:38 - and then faxing another doctor
41:39 - announcement to take the form like this
41:41 - is just a standpoint you have multiple
41:59 - owners our data in the system that
42:01 - that's a fundamental complexity I think
42:11 - that's my next panel is what we're gonna
42:13 - do with data F do we do to cage match
42:17 - and tell me if I'm wrong about this I
42:20 - think the only successful chain out
42:22 - there is gonna be one that sort of open
42:25 - that there's api's to that anyone who
42:27 - comes up with another company it's all
42:28 - gonna go together it's the only way this
42:30 - is gonna be successful the united states
42:33 - government requested white papers and
42:35 - they accepted six of them they're gonna
42:37 - work use that to develop a framework on
42:39 - how it should be the blockchain ONC
42:41 - healthcare I GGO T the second thing is
42:44 - United Nations also have gotten involved
42:47 - in the space and have decreed or
42:50 - whatever you want to call it there's
42:51 - something out there that my company's
42:53 - doing the private thing of it is based
42:56 - out of that so it's international really
42:58 - cool good end up in the world when there
43:01 - are multiple blockchain implementations
43:02 - and multiple protocols technologically
43:05 - there are ways how we how we can
43:07 - transact with two different or three
43:10 - different types of block chains it could
43:12 - beside chains but this is possible great
43:16 - I so your question and and then you'll
43:18 - take you is less when I science you
43:21 - stand up yeah it's very quick quite wise
43:23 - at that Larry and then technology
43:25 - licensing the University of Princeton
43:27 - one of the things I think I'm just
43:30 - really curious and it's really pity
43:32 - there's no regulatory person there
43:35 - unless I think somebody that you can
43:37 - actually speak up because at the end if
43:40 - you want these large adoptions anyway I
43:42 - think you cannot replace the FDA right
43:45 - for example in the medical side if you
43:47 - don't get those guys you know to endorse
43:51 - whatever I think this
43:52 - platt for it's not gonna work at
43:53 - especially at scale so perhaps it's for
43:55 - Frank or chars
43:57 - you know how far are we you know to get
44:00 - like this endorsement these buying from
44:02 - disregarding bodies I Charles first yeah
44:05 - so I would say a lot
44:06 - I think regulations the big thing right
44:09 - I think even when I think in the
44:11 - investment side people are scared of
44:13 - regulation regulation can actually be
44:14 - positive because it can guide us in the
44:17 - right direction right and that's that's
44:19 - what I'm waiting for the problem with
44:20 - regulation is that they're more reactive
44:22 - than proactive so they're not the
44:25 - question is how big of a team do they
44:27 - have that's working on blockchain and
44:29 - you know in different regulatory bodies
44:32 - how big is their blockchain team and
44:34 - what are they thinking of are they
44:35 - thinking forward because this is very
44:37 - clearly gonna change the world for us
44:40 - the question is how is that process what
44:42 - is that path how are we going to get
44:44 - there and and i would i would encourage
44:47 - regulators to come forward to like talk
44:50 - to people that are involved in this
44:52 - space to know understand what is the
44:54 - right direction for this and i hope
44:56 - they're more proactive than reactive and
44:58 - you don't think regulation is bad no i
44:59 - don't and i think it's actually very
45:01 - positive for the industry she's sort of
45:03 - anti what a lot of people were doing in
45:04 - space do your question real quick
45:06 - thank you dennis Leitao with metamorphic
45:09 - systems my question is kind of a tangent
45:11 - on what we talked about here in
45:12 - healthcare if the patient owns their
45:14 - data and it requires permission for that
45:17 - data be shared is that something that
45:19 - can be if you will blood back into
45:21 - consumers so that all of the data that
45:24 - Google and Amazon and everybody else
45:25 - owns on me or controls for me they're
45:28 - the way I get a chance to own that data
45:30 - now and be able to monetize that if I
45:32 - choose to I want to approach that first
45:34 - so I'm involved with quite a few
45:36 - platforms marketplaces artificial
45:38 - intelligence basically and you know
45:42 - artificial intelligent will be as good
45:43 - as the data you get in
45:45 - so the marketplace is based on you have
45:47 - your data and you decide who can get
45:49 - access to it what data and you get
45:51 - compensated with a smart contract on the
45:53 - spot so let's say you know we have some
45:55 - conversation with Verizon and you're
45:58 - taking a goober in Midtown at 6 p.m.
46:00 - you might want to say I want to get
46:02 - compensated for anybody who's looking
46:04 - for a male thing in uber and
46:05 - down during the week and I want to get
46:07 - compensated through a token the same
46:09 - thing I can see applies to this people
46:11 - will give permissions and it's immutable
46:14 - and it's instant rewarded with a token I
46:17 - will give it to my doctor he has this
46:19 - permission to use this data
46:20 - he may be trusted and shared that data
46:23 - and but there's a limitation to what
46:24 - they get to see how you control that
46:27 - it's a great answer David I just want
46:29 - say one thing before you go is this is
46:30 - the first panel I've ever moderated that
46:32 - they didn't say make it shorter they
46:34 - said you can go for another 5 or 10
46:35 - minutes so I feel pretty good there's a
46:39 - lot of pressure on you when you talk so
46:40 - I can actually let me just get a show of
46:42 - hands anybody want to see this for 10
46:44 - more minutes
46:44 - anyone ok ok sorry you can't do it has
46:51 - an agreement block see an agreement with
46:53 - the British national healthcare system
46:55 - right now and they got in trouble for
46:58 - exactly what you are asking because they
47:00 - didn't get the patient consent for
47:02 - sharing the data or are tapping into
47:04 - certain type of patient information they
47:06 - should have gotten and they're retracing
47:09 - or backing up backing and making sure
47:12 - everything is good doing the right thing
47:13 - or whatever they're doing to fix it is
47:15 - being handled right now so you will see
47:19 - that typo it's an evolution so I want to
47:21 - say one thing when you guys talk about
47:23 - boxing it's like boxing boxing is like
47:26 - excel remember when you had to write
47:28 - accounting on those Ledger's and they
47:32 - knew had Microsoft Windows and you can
47:34 - put stuff in Excel and run some saw
47:36 - Lucas hours and programs and all those
47:38 - answers totals came out so pretty and
47:40 - fast that's exactly what's happening
47:43 - with blockchain in in any industry it's
47:46 - the thing that runs the things it's not
47:48 - the answer to your it's not a product
47:50 - that you will see it's the thing that
47:51 - runs in the backend
47:56 - Lex thanks Lex get a mic so I think just
48:05 - you know in a general cultural sense I
48:07 - think our sense of what transparency is
48:10 - is definitely going to be increasing and
48:12 - shaking out I mean there's all kinds of
48:13 - pressure on knotek sites and things to
48:16 - make it easy Google has take out
48:18 - Facebook has the big
48:19 - download and I think that's a general
48:21 - cultural benefit that all of this is
48:24 - bringing is this idea of our data as
48:26 - something that's an asset that's not
48:28 - just sort of up scattered somewhere that
48:30 - you could actually have great answer
48:32 - Lexi all right before I take your
48:34 - question
48:34 - do any of you have any questions for
48:36 - each other anything you have a question
48:38 - yeah I might have missed this but who
48:41 - has ever bought a cryptocurrency in this
48:43 - room race wrong I missed that hold it up
48:45 - there who has actually done an IC o----
48:48 - investment before okay all right thank
48:53 - you
48:53 - three so good so advice at coinbase not
49:00 - that it's the best site in the world go
49:01 - to ICL alert calm and that way you just
49:03 - get to see all the ICS not it's not an
49:05 - endorsement for them but it's pretty
49:07 - sand you could actually search by
49:09 - healthcare or non health care and so
49:11 - your question auti hi addy Siegel I'm
49:14 - actually working on a healthcare
49:15 - blockchain project everyone wants to
49:17 - talk happy to talk afterwards so the
49:20 - most disruptive companies today like
49:22 - uber Airbnb basically said screw it
49:26 - we're just gonna do it and hopefully it
49:28 - works and it has obviously healthcare is
49:31 - highly regulated and also there are no
49:33 - regulators on this panel or lawyers
49:34 - maybe one of you is a lawyer what do you
49:38 - think can be done in healthcare by
49:39 - saying screw it we're gonna come up with
49:41 - a better solution and work it out in
49:44 - litigation afterwards I'm gonna go back
49:47 - to my answer before marketplaces someone
49:50 - will come up and say why don't you own
49:51 - your own data and we'll blockchain your
49:54 - data and you decide what you want to do
49:55 - it then you create an interface but
49:57 - you're right you know we're early on
49:59 - it's not user friendly yet there's
50:01 - certainly not easy to understand this
50:02 - but like you guys said it in a bit and
50:04 - you know this is like Excel blockchain
50:07 - is Excel and that's how it started now
50:09 - everybody's trading it and speculative
50:10 - so you know I guess a little aback will
50:14 - pick on what's going on but specifically
50:16 - with the law yeah well okay so talk
50:20 - about that there's a segment where
50:22 - regulation runs deep not just in US but
50:24 - we heard about from the EU China has a
50:27 - bunch in terms of data data about
50:30 - individuals you know call it a covered
50:31 - entity a dr. aha
50:33 - but all they have to comply with the
50:34 - whole lot a lot of regulatory guidance
50:36 - and if you're handling any of that data
50:38 - as a vendor you have to comply with that
50:40 - to you know all these HIPAA guidelines
50:42 - in terms of protecting and how that data
50:44 - is shared and you can access that data
50:46 - once it's in your personal possession
50:48 - that's the line where HIPAA stop start
50:50 - stops so now you have this gray area
50:53 - when it's going back and forth what's
50:55 - hid but what's not HIPAA how do you
50:56 - protect yourself most of the HIPAA
50:58 - regulations we're designed to actually
50:59 - protect you against you an important
51:02 - inadvertent disclosure of your own data
51:04 - which is somewhat silly there's a lot of
51:06 - good things in it mind you a lot of good
51:08 - things that need to be in there but if
51:10 - you start from the person side of life
51:13 - you have a lot more flexibility than
51:15 - when you're dealing with hospital or
51:17 - covered entity systems and the data that
51:19 - goes between those two I just wanted to
51:22 - add the fact that most things are in
51:24 - icd-10 codes makes a big difference that
51:27 - was the shift happened about a year and
51:29 - a half ago from 14,000 codes to 180,000
51:33 - roads of everything so it's a code base
51:37 - it's very easier to manage and mask
51:39 - patient's identification it's all a
51:41 - little more structured one more thing
51:44 - this is not a choice between a or the
51:47 - apples and oranges blockchain or
51:49 - traditional solutions blockchain must
51:53 - work adhesively together with legacy
51:56 - systems that we have at the moment
51:57 - blockchain is not going to be the golden
51:59 - source of true for the long time it must
52:01 - work together with existing systems so
52:04 - it's not a substitution or what what we
52:06 - have now but it's an additional layer
52:10 - okay well I think the last question
52:21 - question for David Givens Moscoe example
52:24 - if Broxson is insane by the
52:28 - disintermediation of trust i can end up
52:31 - in the US where you really have a very
52:33 - large institutions and body who benefit
52:36 - from the trust that they've built up in
52:38 - the ballistic power that they have
52:40 - whether the bigger changes actually
52:42 - happening outside the US were
52:44 - you don't have the same level of vested
52:46 - interest and so I'm curious where
52:49 - geographically you see the biggest
52:51 - changes happening first right now being
52:55 - involved with so many different regions
52:56 - globally russia has actually become very
52:59 - very quick moving entity in the space
53:03 - they have a lot of Engineers less
53:04 - regulation and quite good at putting
53:09 - together i SEOs and creating innovation
53:11 - so I've seen Russia doing a lot and then
53:14 - of course the u.s. is ahead of you
53:15 - Russia but they have less regulations
53:17 - from over there so I see opportunities
53:19 - happening over there
53:20 - was there two part to the question
53:21 - Estonia nationally endorsed you know
53:30 - full blockchain solutions we invested in
53:33 - you know the virtual like identification
53:38 - in Estonia so that can now you can
53:40 - actually identify yourself through a
53:41 - computer the White House had a
53:43 - competition for a grant a year ago that
53:45 - we applied for to figure out is it a
53:48 - possibility to do and open up a bank
53:50 - account online and can we have
53:52 - blockchain and technology and cyber
53:54 - security solve identification online so
53:58 - I you know that goes back to the
53:59 - question you were in front row we're
54:00 - asking the validation there you know the
54:03 - compatibility it's an enterprise level
54:06 - above legacy systems right now and it
54:09 - allows you to make it you know micro
54:11 - sensitive to different legacy systems
54:13 - awesome I have the coolest panel yes so
54:17 - I agree with what you guys said about
54:20 - how like the fact that something is
54:22 - built on blockchain really doesn't
54:23 - matter that there was Microsoft health
54:29 - fault failed nobody moved their data
54:32 - Apple health care failed nobody moved
54:34 - their data why are we gonna move our
54:36 - data now we have smartphones now and
54:39 - easy integration most doctors have a
54:41 - portal now that was done about three
54:44 - years ago four years ago government paid
54:46 - them 50 thousand dollars eighty thousand
54:48 - dollars a year for two years to upgrade
54:50 - and that's why we and so it's been a
54:52 - face all the patients moved their data
54:54 - and all the patients move their data no
54:58 - it's still in little pockets but it's a
55:00 - face a damn bee can move the mountain in
55:02 - two days or RV or a year or ten I
55:04 - understand my two senses personal health
55:07 - records will always fail because people
55:08 - aren't going to do that because there's
55:10 - no benefit unless I have some chronic
55:12 - chronic issue I'm dealing with over time
55:14 - how many times you go see a doc and of
55:15 - course a year but you know having some
55:17 - of that data a couple of other things
55:19 - when you can transact or use it in a
55:21 - transaction risk or however you want to
55:23 - want to call it gives you access to
55:25 - benefits and other things in a
55:26 - marketplace that's when you're going to
55:28 - start caring about it and I think this
55:30 - new wave of precision medicine genome
55:32 - phenome type tests is was digital health
55:35 - will start driving data into things like
55:37 - that so we may not get back into history
55:39 - but we can get moving forward in time
55:42 - and start collecting that longitudinal
55:43 - record that way all right coolest panel
55:46 - over I just want to do one can I do one
55:47 - last thing absolutely can we just start
55:50 - with Charles work we're down the first
55:52 - word that comes to your mind if you
55:54 - think blockchain and crypto I'll say
55:57 - transparency kill Ethan really okay no
56:02 - more unexpected bills for people
56:04 - patients health care bills realigning
56:09 - future YouTube videos sure and Alex what
56:15 - comes to your mind
56:16 - I disrupt 2018 this is going to be
56:19 - mainstream so mainstream so big care for
56:22 - this panel
56:23 - [Applause]
56:39 - okay that was outstanding thanks
56:41 - everybody that was a really best panel
56:44 - I've seen a long time anywhere