A blockchain-based healthcare claims management system with underlying assets managed by pension funds
Smartillions initiated a blockchain that allows healthcare claims and services to be settled with underlying assets that are managed by pension funds.
Traditional claims and billing management is based on fiat currency which is subject to inflation and bank transaction fees. In contrast, Smartillions allows healthcare providers to settle claims with insurance companies through the blockchain - without any monetary exchange. Instead, a digital asset backed by pension funds is exchanged. This digital asset is not subject to inflation and generates the same returns as the underlying pension funds.
Healthcare employees can also get paid in digital assets which allows them to earn a much higher interest rate on their balance than the interest offered through a savings accounts. Any savings in digital assets are as stable and profitable as the pension funds that back them.
Built on a consortium blockchain, all claims are transacted on a network with end-to-end security, which means that all network components, servers and end user devices are standardised and based on open technology which can be inspected by any third party.