The BLOCKCHAIN Toward a Platform of Collaboration in Biotech BSMA Conference Cambridge, Mass. April 26, 2017 The BLOCKCHAIN Toward a Platform of Collaboration in Biotech MICHAEL CASEY SENIOR ADVISOR, DIGITAL CURRENCY INITIATIVE, MIT MEDIA LAB

TRUST Joichi Ito, Flick:

The Problem with Centralized Ledgers:

The Problem with Centralized Ledgers:

Multiple Intermediaries SWIFT Boston Bank Correspondent Bank Perth Bank FX

$

$ $ The Double-spend Problem

Solution: Decentralized Consensus $

Solution: Decentralized Consensus $ $

The Blockchain: A Decentralized, Distributed Ledger Credit: Oliver Wyman The Blockchain: A Decentralized, Distributed Ledger

The Blockchain: A Decentralized, Distributed Ledger Credit: Oliver Wyman The Blockchain: A Decentralized, Distributed Ledger

The First Use Case

“Smart Contracts”

Other Use Cases

--Securities Settlement Other Use Cases --Securities Settlement

--Securities Settlement --Real-time auditing, notarization Other Use Cases --Securities Settlement --Real-time auditing, notarization

Other Use Cases --Securities Settlement --Real-time auditing, notarization --Property registries

Other Use Cases --Securities Settlement --Real-time auditing, notarization --Property registries --Artists’ rights management

Other Use Cases --Securities Settlement --Real-time auditing, notarization --Property registries --Artists’ rights management --Internet of Things, decentralized energy

Other Use Cases --Securities Settlement --Real-time auditing, notarization --Property registries --Artists’ rights management --Internet of Things, decentralized energy --Identity/reputation

Other Use Cases --Securities Settlement --Real-time auditing, notarization --Property registries --Artists’ rights management --Internet of Things, decentralized energy --Identity/reputation --And…

Supply Chains TRACING THE SOURCE TRACING THE SOURCE

Provenance Of Goods

Adding Value to the Value Chain

Bio/Health Supply Chain Uses --Drug traceability --IP management --Security for IoT Medical Devices. --Clinical trials record-keeping --Medical record management --Health insurance claims management

Drug Traceability A DSCSA Fix?

IP Management Counter-Counterfeiting?

Security for IoT Medical Devices Avoiding the Ultimate Cyberattack?

Clinical Trials Fast, Secure Patient Consent Reliable Records

Putting Patients in Control Medical Records Putting Patients in Control

Health Insurance Claims Management Fighting Fraud and Wasted Time

Obstacles --New legal concepts for title, possession, data ownership --Regulatory inertia --Garbage-in, garbage-out risks --Computing expense --How do you herd all the cats?

Who Will be the Agents of Change? --Governments? --Health care providers? --Insurers? --Research institutions? --Pharmaceutical companies? --Patients?

www.michaeljcasey.com michael@michaeljcasey.com @mikejcasey MICHAEL CASEY SENIOR ADVISOR, DIGITAL CURRENCY INITIATIVE, MIT MEDIA LAB