Healthcare giant Philips enters blockchain application exploration

On October 27, Philips Healthcare has confirmed that it is exploring the potential applications of blockchain technology.

Philips Healthcare is a large division of the Dutch multinational electronics company Philips. According to the Wall Street Journal, Philips Healthcare had sales of 9.18 billion euros in the 2013-2014 fiscal year, which is twice the sales of its consumer life and lighting divisions and accounts for about 40% of the company's annual revenue.

The company’s interest in blockchain was first revealed in a tweet by Wayne Vaughan, CEO of blockchain bookkeeping startup Tierion, who touted the service as the healthcare company’s “first (blockchain) project” without providing any additional details.

In a statement, Arno Laeven, global IT innovation leader, said the two companies have collaborated but would not make any further announcements at this time.

Laeven told CoinDesk:

“We are exploring blockchain for healthcare, just as we are exploring many new technologies.”

The news comes amid reports that Philips is looking to revamp its healthcare services amid a sharp decline in industry growth and sales.

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Original article: http://www.coindesk.com/health-care-giant-philips-exploring-blockchain-applications/
By Pete Rizzo
Compiled by: Satuoxi
Editor: Satuoxi
Source (translation): Babbitt Information