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Blockchain in the Payments Industry: Digital vs Fiat Currency Part 3

October 14, 2019 | Blockchain
Blockchain in the Payments Industry: Digital vs Fiat Currency Part 3

Blockchain’s characteristics means that it is prime for optimising key, cost sensitive industries.

In the UK, overworked organisations like the NHS could store patient journeys on an automated blockchain. Internal transactions, meanwhile, could be based on a digital currency, as seen from our work done with the South African Reserve Bank. Blockchain, combined with other emerging technologies, could improve the control and sharing of data – from check-ins and check-outs, patient updates, doctors’ output, room utilisation and more – to better manage patient records, cut costs and analyse hospital operations in real time. Applying currently available solutions for identity (see PwC’s Smart Credentials) and supply-chain transparency (see PwC’s Air Trace blockchain offering) to such cases could significantly boost efficiency of both systems and the allocation of investments to improve them.

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