{"id":15278,"date":"2016-07-20T09:24:47","date_gmt":"2016-07-20T06:24:47","guid":{"rendered":"http:\/\/www.altoros.com\/blog\/?p=15278"},"modified":"2019-05-07T17:59:59","modified_gmt":"2019-05-07T14:59:59","slug":"blockchain-bottlenecks-in-finance-healthcare-and-insurance","status":"publish","type":"post","link":"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/","title":{"rendered":"Blockchain Bottlenecks in Finance, Healthcare, and Insurance"},"content":{"rendered":"<p>A <a href=\"https:\/\/www.meetup.com\/Hyperledger-Amsterdam\/events\/229693878\/\" target=\"_blank\" rel=\"noopener noreferrer\">Hyperledger meetup<\/a>\u2014held in Amsterdam and sponsored by Altoros\u2014had a panel of experts discussing the blockchain technology and how it affects their various industries. The discussion was led by blockchain developer <a href=\"https:\/\/www.linkedin.com\/in\/yiseulcho\" target=\"_blank\" rel=\"noopener noreferrer\">Yiseul Cho<\/a> and the speakers included ING Bank&#8217;s <a href=\"https:\/\/www.linkedin.com\/in\/peter-penning-616580\" target=\"_blank\" rel=\"noopener noreferrer\">Peter Penning<\/a>, ABN AMRO&#8217;s <a href=\"https:\/\/www.linkedin.com\/in\/tim-blankers-b0186421\" target=\"_blank\" rel=\"noopener noreferrer\">Tim Blankers<\/a>, Innopay&#8217;s <a href=\"https:\/\/www.linkedin.com\/in\/gijs-burgers-6b732914\" target=\"_blank\" rel=\"noopener noreferrer\">Gijs Burgers<\/a>, Nictiz&#8217;s <a href=\"https:\/\/www.linkedin.com\/in\/maarten-ligtvoet-40843b3\" target=\"_blank\" rel=\"noopener noreferrer\">Maarten Ligtvoet<\/a>, and Deloitte&#8217;s <a href=\"https:\/\/www.linkedin.com\/in\/jacob-boersma-26a647\" target=\"_blank\" rel=\"noopener noreferrer\">Jacob Boersma<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Three_levels_of_blockchain\" >Three levels of blockchain<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Scaling_up\" >Scaling up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Blockchain_in_healthcare\" >Blockchain in healthcare<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Blockchain_in_finance\" >Blockchain in finance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Whats_great_about_the_technology\" >What&#8217;s great about the technology?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Bottlenecks\" >Bottlenecks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Want_details_Watch_the_video\" >Want details? Watch the video!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Related_video\" >Related video<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#Further_reading\" >Further reading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#About_the_experts\" >About the experts<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Three_levels_of_blockchain\"><\/span>Three levels of blockchain<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yiseul begins the discussion by asking the panelists about their experience with blockchain.<\/p>\n<p>&#8220;ING Bank is doing blockchain experiments in three levels,&#8221; says Peter. &#8220;The first level is within our organization where we are looking at one problem, where we think because we are such a distributed organization across the globe on various locations and systems, we&#8217;re looking at blockchain as a solution for how we run our internal treasury management.&#8221;<\/p>\n<p><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-1.jpg\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-1.jpg\" alt=\"Hyperledger Blockchain Amsterdam Bottlenecks 1\" width=\"640\" class=\"aligncenter size-full wp-image-15297\" \/><\/a><\/p>\n<blockquote><p>&#8220;The real value will be the network effect where multiple parties are on a shared blockchain.&#8221; \u2014Peter Penning, IT Manager, ING Bank<\/p><\/blockquote>\n<p>Peter emphasizes how the first level is more of an internal experiment and it&#8217;s more about learning about blockchain than anything else.<\/p>\n<p>&#8220;The second level is some experiments we are doing with other banks in how to exchange information about the money we owe to each other,&#8221; he continues. &#8220;The third level is the fact that ING is part of the <a href=\"https:\/\/www.r3.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">R3<\/a> consortium which has well over 40 members. We run experiments with the various members mostly in the area of financial market products.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Scaling_up\"><\/span>Scaling up<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&#8220;At Innopay, we focus on topics like payments and e-business,&#8221; says Gijs. &#8220;In all of this topics, there are lots transactions that make the topic of blockchain very interesting technology to talk about.&#8221;<\/p>\n<p><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-2.jpg\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-2.jpg\" alt=\"Hyperledger Blockchain Amsterdam Bottlenecks 2\" width=\"640\" class=\"aligncenter size-full wp-image-15298\" \/><\/a><\/p>\n<p>Gijs explains further by detailing Innopay&#8217;s involvement with blockchain, &#8220;What we&#8217;re doing right now is working with the logistics and financial sectors in finding use cases and also making proofs of concept. For instance, we are working with IBM and with certain logistics parties to figure out how to make trade transfers and also asset-based financing.&#8221;<\/p>\n<blockquote><p>&#8220;We&#8217;re building a factoring proof of concept which is a way to get the risk out of your invoices. We&#8217;re very busy with this technology.&#8221; \u2014Gijs Burgers, Senior Consultant, Innopay<\/p><\/blockquote>\n<p>It&#8217;s all in the experimental stage as he explains, &#8220;It&#8217;s all proof of concept so we&#8217;re trying out stuff and seeing if we can scale it up.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Blockchain_in_healthcare\"><\/span>Blockchain in healthcare<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&#8220;At Nictiz, we focus more on health information standards,&#8221; says Maarten. &#8220;Our core business is health information standards, so we do that internationally with partners in the United States, Canada, and also with organizations like Nictiz throughout EU.&#8221;<\/p>\n<p><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-3.jpg\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-3.jpg\" alt=\"Hyperledger Blockchain Amsterdam Bottlenecks 3\" width=\"640\" class=\"aligncenter size-full wp-image-15299\" \/><\/a><\/p>\n<p>Maarten points out how Nictiz, along with its partners, are trying to come up with common medical standards. &#8220;We&#8217;re trying to establish a common set of standards for health implementation. You need a common set of terms which you can use in medical files so that machines can parse medical data and make decisions based on that information.&#8221;<\/p>\n<p>As far as blockchain technology is concerned, &#8220;I&#8217;m trying to get a view of where health information standards meet blockchain,&#8221; says Maarten. &#8220;We&#8217;re talking with parties and working on proofs of concept. My feeling is that to get into health and blockchain, you need a good sense in what&#8217;s going on in health.&#8221;<\/p>\n<blockquote><p>&#8220;It&#8217;s not as simple as just running a blockchain and dumping some medical data into it.&#8221;<br \/>\n\u2014Maarten Ligtvoet, Product Manager, Nictiz<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Blockchain_in_finance\"><\/span>Blockchain in finance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&#8220;In Deloitte, what we do worldwide with blockchain is probably too much to go through in a short period of time,&#8221; says Jacob. &#8220;Within EMEA (Europe, Middle-East, and Africa), we have established a blockchain lab with about 50 professionals talking about blockchain, giving training, writing reports, advising our clients, and building proofs of concept.&#8221;<\/p>\n<p><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-4.jpg\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-Bottlenecks-4.jpg\" alt=\"Hyperledger Blockchain Amsterdam Bottlenecks 4\" width=\"640\" class=\"aligncenter size-full wp-image-15300\" \/><\/a><\/p>\n<blockquote><p>&#8220;We&#8217;re on the brink of really starting to build applications that are more production grade.&#8221;<br \/>\n\u2014Jacob Boersma, Consultant, Deloitte<\/p><\/blockquote>\n<p>Jacob also points out areas of interest for blockchain applications. &#8220;I see a lot happening in financial industries, not just with banks but also insurance. In healthcare, we built a proof of concept and healthcare blockchain together with SNS bank and Nictiz. The public sector has a lot of information and registers and will have a lot of interesting use cases for blockchain.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Whats_great_about_the_technology\"><\/span>What&#8217;s great about the technology?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Asked about one thing about blockchain the panelists really liked, they named the following.<\/p>\n<p><strong>Peter:<\/strong> There&#8217;s an 11B-dollar bug bounty against bitcoin and nobody has claimed it so far.<\/p>\n<p><strong>Tim:<\/strong> Doing transactions with people with no central authority.<\/p>\n<p><strong>Gijs:<\/strong> It feels like a fundamental change in the way we save and transact data.<\/p>\n<p><strong>Maarten:<\/strong> From a health perspective, it gives more control to patients.<\/p>\n<p><strong>Jacob:<\/strong> Even if none of the current implementations that we have are perfect, it forces original monopolists like governments, banks, and accountants to look at themselves and say do I really have value or can it be automated away by this new technology.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bottlenecks\"><\/span>Bottlenecks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Lastly, Yiseul asks about any concerns, problems, and bottlenecks regarding the adoption of blockchain.<\/p>\n<p>&#8220;Blockchain really brings us together,&#8221; says Tim. &#8220;We need several parties for the blockchain to work.&#8221;<\/p>\n<blockquote><p>&#8220;The more you don&#8217;t trust each other, the better the blockchain gets.&#8221;<br \/>\n\u2014Tim Blankers, Solution Designer, ABN AMRO<\/p><\/blockquote>\n<p>&#8220;The challenge is not so much technical anymore,&#8221; says Gijs. &#8220;The challenge right now is to get this thing explained to normal people. I feel how it can fundamentally change things but not the business people. People can get the most potential out of this technology if they work together.&#8221; <\/p>\n<blockquote><p>&#8220;The biggest challenge right now is getting a common language and understanding each other.&#8221; \u2014Gijs Burgers, Senior Consultant, Innopay<\/p><\/blockquote>\n<p>&#8220;The greatest challenge for blockchain is strangely enough the hype around blockchain,&#8221; says Jacob. &#8220;With blockchain on top of the hype cycle, everybody thinks they know what it is because they&#8217;ve seen YouTube videos about it and think it&#8217;s the solution for all their problems.&#8221;<\/p>\n<blockquote><p>&#8220;It&#8217;s going to be very hard to manage the expectations surrounding the maturity of this technology.&#8221; \u2014Jacob Boersma, Consultant, Deloitte<\/p><\/blockquote>\n<p>As far as breaking the bottlenecks for blockchain adoption goes, we can conclude three requirements: community, education, and realistic expectations. Given these three, the road ahead is looking good with several organizations and even individual members working on development and raising awareness for blockchain technologies such as Hyperledger and Ethereum.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Want_details_Watch_the_video\"><\/span>Want details? Watch the video!<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td class=\"video-details-td\">\n<div style=\"float: right; width: 45%; padding-left: 15px; font-size: 14px;\">\n<p><strong>Table of contents<\/strong><\/p>\n<ol>\n<li style=\"margin-bottom: 6px;\">ING&#8217;s three levels of blockchain (<a href=\"#wistia_z89vwofjlg?time=260\">4&#8217;20&#8221;<\/a>)<\/li>\n<li style=\"margin-bottom: 6px;\">Scaling up with blockchain (<a href=\"#wistia_z89vwofjlg?time=314\">7&#8217;25&#8221;<\/a>)<\/li>\n<li style=\"margin-bottom: 6px;\">How blockchain spans multiple industries (<a href=\"#wistia_z89vwofjlg?time=645\">10&#8217;45&#8221;<\/a>)<\/li>\n<li style=\"margin-bottom: 6px;\">Blockchain in a nutshell (<a href=\"#wistia_z89vwofjlg?time=810\">13&#8217;30&#8221;<\/a>)<\/li>\n<li style=\"margin-bottom: 6px;\">How blockchain can affect governments and banks (<a href=\"#wistia_z89vwofjlg?time=930\">15&#8217;30&#8221;<\/a>)<\/li>\n<li style=\"margin-bottom: 6px;\">Challenges surrounding blockchain (<a href=\"#wistia_z89vwofjlg?time=1065\">17&#8217;45&#8221;<\/a>)<\/li>\n<li style=\"margin-bottom: 6px;\">Audience questions and answers (<a href=\"#wistia_z89vwofjlg?time=1330\">22&#8217;10&#8221;<\/a>)<\/li>\n<\/ol>\n<\/div>\n<p><script charset=\"ISO-8859-1\" src=\"\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_embed wistia_async_z89vwofjlg\" style=\"height:320px;width:440px\">&nbsp;<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Related_video\"><\/span>Related video<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fireside chat was preceded by the following sessions:<\/p>\n<ul>\n<li>Technical Introduction to HyperLedger (<a href=\"https:\/\/www.linkedin.com\/in\/joost-zeinstra-0b59115\" target=\"_blank\" rel=\"noopener noreferrer\">Joost Zeinstra<\/a>, IBM)<\/li>\n<li>HyperLedger and Ethereum: How We Integrate and The Path Forward (<a href=\"https:\/\/www.linkedin.com\/in\/tim-blankers-b0186421\" target=\"_blank\" rel=\"noopener noreferrer\">Tim Blankers<\/a>, ABN AMRO Bank N.V.)<\/li>\n<\/ul>\n<p><center><script src=\"\/\/fast.wistia.com\/embed\/medias\/lolptw2i4c.jsonp\" async><\/script><script src=\"\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_embed wistia_async_lolptw2i4c\" style=\"height:360px;width:640px\">&nbsp;<\/div>\n<p><\/center><br \/>\n&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Further_reading\"><\/span>Further reading<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/hyperledgerblockchain-requirements-adoption-bottlenecks-finance-real-estate\/\">Blockchain Requirements and Adoption Bottlenecks in Finance and Real Estate<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/hyperledger-blockchain-requirements-and-adoption-bottlenecks\/\">Hyperledger\/Blockchain Main Drivers, Use Cases, and Implications<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/hyperledger-fabric-industry-use-cases-requirements\/\">Hyperledger Fabric: Industry Use Cases and Requirements<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"About_the_experts\"><\/span>About the experts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div>\n<div style=\"float: right;\"><a href=\"https:\/\/www.linkedin.com\/in\/peter-penning-616580\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Peter-Penning-IT-Manager-ING-Bank-bio.png\" alt=\"Peter Penning, IT Manager, ING Bank bio\" width=\"150\" height=\"150\" class=\"aligncenter size-full wp-image-15280\" \/><\/a><\/div>\n<div style=\"width: 600px;\"><small><a href=\"https:\/\/www.linkedin.com\/in\/peter-penning-616580\">Peter Penning<\/a> is responsible for IT Operations of the International Payments applications for the Commercial Banking customers of ING. He has experience in systems development, project management, line management,  management of geographically fragmented teams, and creating and establishing successful development teams, including the full development cycle to production. He specializes in retail and wholesale banking products and has in-depth knowledge of financial market systems.<\/small><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<div style=\"float: right;\"><a href=\"https:\/\/www.linkedin.com\/in\/tim-blankers-b0186421\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Tim-Blankers-Solution-Designer-AMRO-bio.png\" alt=\"Tim Blankers, Solution Designer, AMRO bio\" width=\"150\" height=\"150\" class=\"aligncenter size-full wp-image-15281\" \/><\/a><\/div>\n<div style=\"width: 600px;\"><small><a href=\"https:\/\/www.linkedin.com\/in\/tim-blankers-b0186421\">Tim Blankers<\/a> investigates and experiments with the blockchain technology at the Innovation Center for ABN AMRO. In 2014, he finished studying Computer Science (focus on Distributed Systems) at the VU Amsterdam, and was a full stack web freelancer on the side. Tim&#8217;s main interests go to the theoretical parts, e.g. consensus models, network topologies, cryptography and confidentiality, but also exploring potential use cases. <\/small><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<div style=\"float: right;\"><a href=\"https:\/\/www.linkedin.com\/in\/gijs-burgers-6b732914\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Gijs-Burgers-Senior-Consultant-Innopay-bio.png\" alt=\"Gijs Burgers, Senior Consultant, Innopay bio\" width=\"150\" height=\"150\" class=\"aligncenter size-full wp-image-15282\" \/><\/a><\/div>\n<div style=\"width: 600px;\"><small><a href=\"https:\/\/www.linkedin.com\/in\/gijs-burgers-6b732914\">Gijs Burgers<\/a> is an experienced strategy consultant who has worked with several international corporations, banks, and other financial service providers. He was involved in realizing several inter-bank products from the first business vision to development and eventual go-live. He is currently involved with payments and transactions consulting with specific attention for product strategy for banks, payment services directive 2, anti-money laundering regulation\/policy, and cryptocurrency.<\/small><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<div style=\"float: right;\"><a href=\"https:\/\/www.linkedin.com\/in\/maarten-ligtvoet-40843b3\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Maarten-Ligtvoet-Product-Manager-Nictiz-bio.png\" alt=\"Maarten Ligtvoet, Product Manager, Nictiz bio\" width=\"150\" height=\"150\" class=\"aligncenter size-full wp-image-15283\" \/><\/a><\/div>\n<div style=\"width: 600px;\"><small><a href=\"https:\/\/www.linkedin.com\/in\/maarten-ligtvoet-40843b3\">Maarten Ligtvoet<\/a> works at Nictiz and specializes in audit of health information systems, open standards, authentication, and security. Nictiz (The Dutch National IT Institute for Healthcare) works towards better healthcare through better information. Besides Nictiz, he is also a member of the ART-DECOR Expert Group\u2014the organization behind a tooling platform for developing health information standards. Maarten has previously worked as a consultant for Logica.<\/small><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<div style=\"float: right;\"><a href=\"https:\/\/www.linkedin.com\/in\/jacob-boersma-26a647\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Jacob-Boersma-Consultant-Deloitte-bio.png\" alt=\"Jacob Boersma, Consultant, Deloitte bio\" width=\"150\" height=\"150\" class=\"aligncenter size-full wp-image-15284\" \/><\/a><\/div>\n<div style=\"width: 600px;\"><small><a href=\"https:\/\/www.linkedin.com\/in\/jacob-boersma-26a647\">Jacob Boersma<\/a> is a consultant in information security, digital identity, e-signatures, and e-payments areas working in public-private partnership projects. Within Deloitte&#8217;s cyber risk team, he is helping clients to solve digital identity and online payments challenges as well as co-creating blockchain applications for trusted services. Jacob has a keen eye for trends and the &#8220;big picture&#8221; in internet transaction developments.<\/small><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<div style=\"float: right;\"><a href=\"https:\/\/www.linkedin.com\/in\/yiseulcho\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Yiseul-Cho-Blockchain-Developer-bio.png\" alt=\"Yiseul Cho, Blockchain Developer bio\" width=\"150\" height=\"150\" class=\"aligncenter size-full wp-image-15285\" \/><\/a><\/div>\n<div style=\"width: 600px;\"><small><a href=\"https:\/\/www.linkedin.com\/in\/yiseulcho\">Yiseul Cho<\/a> is a blockchain developer and entrepreneur. To experiment and explore the potential applications of blockchain and bring data analytics to blockchain, Yiseul set up an R&#038;D agency, Zen9. She is currently building things around Ethereum blockchain and trying to extract intelligence from blockchain data.<\/small><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Hyperledger meetup\u2014held in Amsterdam and sponsored by Altoros\u2014had a panel of experts discussing the blockchain technology and how it affects their various industries. The discussion was led by blockchain developer Yiseul Cho and the speakers included ING Bank&#8217;s Peter Penning, ABN AMRO&#8217;s Tim Blankers, Innopay&#8217;s Gijs Burgers, Nictiz&#8217;s Maarten [&#8230;]<\/p>\n","protected":false},"author":32,"featured_media":15296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[7],"tags":[672,972,914,753,927],"class_list":["post-15278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-opinion","tag-blockchain","tag-finance","tag-healthcare","tag-hyperledger","tag-insurance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blockchain Bottlenecks in Finance, Healthcare, and Insurance | Altoros<\/title>\n<meta name=\"description\" content=\"Blockchain gains more and more traction as experts in finance, healthcare, and insurance industries see the potential value it possesses. What are their experiences with blockchain thus far?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain Bottlenecks in Finance, Healthcare, and Insurance | Altoros\" \/>\n<meta property=\"og:description\" content=\"Blockchain gains more and more traction as experts in finance, healthcare, and insurance industries see the potential value it possesses. What are their experiences with blockchain thus far?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"Altoros\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-20T06:24:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-07T14:59:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-featured.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"Carlo Gutierrez\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Carlo Gutierrez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/\",\"url\":\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/\",\"name\":\"Blockchain Bottlenecks in Finance, Healthcare, and Insurance | Altoros\",\"isPartOf\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-bottlenecks-in-finance-healthcare-and-insurance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/07\/Hyperledger-Blockchain-Amsterdam-featured.gif\",\"datePublished\":\"2016-07-20T06:24:47+00:00\",\"dateModified\":\"2019-05-07T14:59:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/#\/schema\/person\/833e109f77de753b2b472dca0236b442\"},\"description\":\"Blockchain gains more and more traction as experts in finance, healthcare, and insurance industries see the potential value it possesses. 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