China had probably the quickest recovery from COVID in the world, even though the people are still experiencing many difficulties in getting back their normal lives.
Organisation in hospitals, mutual help and technology played a key role, and now the government is experimenting new solutions to improve the national health system even further.
The interest of the Chinese institutions in Blockchain is no secret, and research and new projects are financed with enthusiasm.
The health system already had some help from Blockchain in fighting COVID-19, but now the implementation of a blockchain-based health system is moving forward.
A few days ago, in fact, a hospital in Chengmai, in the Hainan province, issued the first electronic bill to a patient with the new blockchain-based billing system.
How billing with Blockchain looks like
The hospital sends all the invoices directly to their patients’ phone, so that they can access their record anytime and apply for refund.
All the invoices and the transactions are recorded on a blockchain, so they are all immutable and undeletable, which not only makes the system more transparent, but removes the requirement for patients to physically go to the hospital to collect their refund.
Billing with Blockchain through such a system, however, does not only involve the hospital direction, but also the whole city administration, because all the competent institution must be able to access patients’ data. Apart from them, no one can, which means patients’ privacy benefits, too.
At the moment, the project is still in a pilot phase, so this billing system only works in the city of Chengmai, but it will soon work on the whole Hainan island.
The province authorities are working shoulder-to-shoulder with some of the leading blockchain companies of the country, as most of them are based in Haikou, the capital of the Hainan province.
Hainan, in fact, can benefit from preferential economic policies that allowed blockchain companies to flourish over the past few years.
Government’s holistic plan
This experiment that will likely be extended, is part of a bigger plan drafted a few months ago by the Chinese government that aims to transform the capital Beijing in an international blockchain hub by 2022.
According to People, the plan stated that it will strengthen financial support, increase support from the two-level finance of the Beijing district, adhere to the combination of long-term and short-term investment, encourage innovative entities to actively participate in the construction of industrial bases, and provide a strong guarantee for blockchain technology and industrial development. In addition, improve the regulatory mechanism, increase the supervision of token issuance and financing activities, and create a good public opinion environment for blockchain technology and industrial development.
A blockchain industry investment fund will be set up, as well as a special sub-fund for blockchain industry investment under the Beijing Science and Technology Innovation Fund in order to coordinate government investment and social capital and actively support blockchain innovation projects to become bigger and stronger. It will also establish a service mechanism for blockchain companies to connect to the capital market, and encourage superior companies to go public on financing.