 This is St. Tech, Hawaii, Community Matters. Hey, hello, hi, and how are you doing? Gordon of the Techs out here. And welcome to Yebauchi Talk. Great to have you joining us. We have in the house today, we have on the far, on my far left, stage right. Stage right. The fundraiser and health care executive. Yeah, I know. Nice to see you, sir. Thank you. And we have Mr. Lanning, our security guy here. Hello, hi, everybody. So this is your show today, and we're going to talk about the blockchain, which is the underlying foundation of cryptocurrency, and whether it might have a place in health care. So will the blockchain have a place in health care? And we're not experts in this, but it's a conversation we're going to have to see if there might be something that could happen in this space. So grab yourself a libation. Yeah, where's our libations? We have no libations today. Wow. We're going to be healthy. Because I spilled that one last week. Yeah, I know you have posted. So we've got Jay yelled at us. So we're going to have, we're going to sit here and pull up an empty cup and join us as we sit here and talk about it. And I'm speaking for Angus. And you're speaking. And Angus is persona no gratis. He's making too much money off of Bitcoin before it took a day off, didn't he? He's off of Bitcoin around. Speaking of which, we'll start with Bitcoin. OK. The underlying foundation of which is the blockchain is now trading at what, $4,200? Yeah, I don't know. I got $4,200. I got a bunch. So a couple of weeks ago, I gave you $12. And how much you got now? $22. OK, can I get my $12 back? As soon as it, a little, there should double by the time the show's over. I'll feed you back. Yeah, I'll feed you back. Wait, I gave you your lovely bridesome, too. You don't have to talk to me about it. He has proof of it, too. Because I got distributed ledger. Transactions. That's right. He knows he gave it to us. Anyway, this is an interesting kind of thing. Because we're talking about cryptocurrency with the blockchain and what's happening. And I'm personally of the belief that this is the next new internet evolution, revolution, whatever you want to call it. This is as big as when the internet hit us. Technology for it. So for technology. This piece of technology for what it is. And you're the security guy. And I've got a slide here. We'll show you just like it. This is from 2015. How much money do you think we spent trying to protect health care data in 2015? Just to protect it. Not enough. Five over five? A bunch of it got taken anyway. So whatever we spent, we waited. $5.6 billion was spent trying to protect health care records that we know of. And how many did we lose anyway? I know. Like how many do we lose? There it is. There it is. And see, when you see a comment by that 5.6, it means it was a European study. Because they use commas instead of periods. Why? Did you know that? Technology. I said, why this is an educational program. 10 million. 193 million records were lost. Because we spent $6 million. $193 million records were lost. For five and a half, so if we just spent 10 and a half billion, will we've only lost 100 million records? Who knows? And where were all those records stored? And how were they stored? What do you think? You're the fundmeister. Yeah, where were they before? And where are they now? And my comment would be they weren't stored very well. If $193 million got hacked. Yeah, I think most of that was Anthem, right? And the $5.x billion didn't spend enough to keep them safe. How many databases do you think are out there in this? Just in the US. Forget the global. Were there to be Britain, Canada, all of those? Is there anybody up there? Well, I left so that everybody glows up. I don't know. But $193 million. $193 million is almost 2 thirds of the nation in one year. No, this is a global number. That's a global number. It's a number that is not global, this is a global, but it's the Britain, Canada, US. But it was still, that's a lot of people. They don't have that many, do they? Canada? Well, even Europe and all of them. This is not a geographic or history show. Well, I just don't know the population. I mean, that's still a lot. It's more than Kentucky. Well, I know. Well, there's the three records from Kentucky, nobody goes to the doctor over there. I'm going to get myself a drama. There was three records in Kentucky, and they were all related. That's good. There goes the O'Lellowshow. OK, I forget that. I think that's Arkansas where they're in. OK, that's right, that's true. I'll save you on that one. I almost said something I shouldn't have. But anyway, so I'm looking for some payback from Kentucky. I think I'll go home. So how many databases do you think? Hundreds of thousands of databases that are open and available to individuals, your doctors, and we think about today. How many databases do you think your name is showing up in health care records? Good Lord. Yeah. Well, you have one record, but there's multiple ways they can get to it, right? Like Epic or those big systems hold it. Big systems, but your doctors, it's my hospital. They can all access it, right? It's my pharmacy. Your radiologist, your neurologist. My brain damages. Your neurologist. I know. You had that bone from your, that nerve from your butt. From your, yeah, your upperectomy to give you that upperectomy. No, that's not what we're talking about. I go get my glasses. Your glasses? Your pharmacist? My dentist. Your dentist? Well, Mike, oh, I don't have a dentist. My teeth are like stars. They come up on dates. So you don't actually know when your access, your dentist is being accessed. You don't know? How do you know? Yeah, it's not like you don't approve it. We're talking about how you could freeze your credit records, for example. You can't freeze your health-share record. Because if you were in an accident, you don't want it frozen. How many doctors do you think you've seen over the years? I just went. I just had some labs and stuff done. Because you're getting ready to do the Ironman, right? Well, that was the idea until they told me about the brain damage problem. Yeah, and that's why you're doing the Ironman. Probably, yeah. But so you've got, so, but all of that stuff is in databases everywhere. And how secure are they? I think the humans on the access end of the problem, I think the database is probably encrypted, but people can still think. Well, it's supposed to be. It's supposed to be. It's got HIPAA. No, there's HIPAA compliance. And for 10, 15 years, exactly, federal HIPAA laws have required these to be encrypted, but to be secure. Right. Do you think they all are? What, $193 million of those HIPAA protected are allegedly HIPAA protected? Well, they've probably gotten the key, too, you know what I'm saying? Like, so they're using someone with access to the record. So therefore, all your records are just fine. Well, I'm sure they have to make a request, right? You have to request a block of records, right? So via someone's authorization. Authorization. Because if you just go and hack a broken encrypted record, that's really not going to be good to you. If you honestly get one medical record, it could be the point. But if it's encrypted, how do you get $193 million records done if you're not hacking them? Yeah. Well, I mean, their ex will train a big chunk. So I mean, jokingly, whether you're a dentist or whatever, some of these dentists and doctors have been around for 30 years practicing. And they're using the same systems they've been using when they, you walk in there, the files are all sitting there in rows. And whatever they've got, they're in there. Do you think they've got the most sophisticated systems and they're protecting them? I'm sorry, I don't feel that confident. No, I'm sure, obviously, there's holes. So here at Lowenby, and this is where we come back to the concept of the blockchain. So we've got literally, I would say, hundreds of thousands, if not millions of databases with all of her medical records or portions of them all over. I mean, whether you be at, I don't care what hospital, if you've ever gone to any hospital, they've got a record. If you've ever had an x-ray, they've got a record. If you've ever had prescription drugs, they've got a record. Just go down the list, when you went into the emergency room, they've got a record. Oh, by the way, do you have insurance? They've got a record. Have you had multiple insurance companies? They've got, so all of those records are all over the place. And we don't know. That's the point. There's no real, there's no real transaction. It's my data, it's my information. And by the way, do we know if it's correct? If it's accurate? I don't know if what they put in that medical record is correct. I have no idea. Is it really you? Is it really me? I could be you. We look so much alike. Actually, I look more like you. It could be me. My son, the fundraiser. Like you, you don't look like him. I'm working on it. But no, so this is the whole point. Yeah, understood. So you go back and you look at this whole concept of the blockchain. It takes out, it takes out all the databases. It takes out the middle persons. It's all authenticated. We've talked in previous shows about cryptocurrencies and how the currencies are mined and authenticated, multiple transactions. What we've looked at yesterday. When I gave your wife $12, something like that. $5.20. There was 2,500 plus miners authenticated that transaction is being correct. All we needed was 7. So you get the transaction record. So I think I want to make sure we got it. Because we need to say something. The data record still has to exist. It's in the blockchain. The transaction is in the blockchain. No, everything. What are you talking about? Everything is in the blockchain. This does not point back to a database anywhere. That's exactly a good question. What's in the blockchain? Everything is in the blockchain. Well, the blockchain is just a distributed ledger, though. That's just a ledger of the transaction. And every record. Right, right. Not just the transaction. Your entire medical record and anything that's happened with you gets stacked up on the blockchain time and time again. It's everything. It's the whole, your whole. So it's also a file repository. It's a file repository and a distributed ledger around the entire world. OK, but let me say it because I think that's a really good question you have. I didn't understand it that way. Yeah, you thought it was a pointer. Well, and so I have another question about that as well. Because what is in the medical record blockchain, we have data from lots of different inputs. And we've talked about some of those. But some of them, when I got born, a couple of things happened. One is, I've got to say the world's sucking them though. That was an eclipse. And my mom went to the hospital and there was medical record. Created, yeah. But there was also a transaction that went to the county to create. To log your birth. Yeah, my birth. So then the next thing that happens is actually yes. Without blockchain. Wow. I'm with you. And so how does the data that's on my birth certificate from the county then get paired up in the blockchain with the hospital data that said. And back in those days, how did it? It never did. It was a fact. It was just a fact. So my father is a perfect example. His birth record shows up in two locations. On a rock? Only two. It's on a stone tablet somewhere. It shows up in two locations. I thought he had a twin because it showed up in two locations. But his birth got registered in two locations. But it took analysis to figure out that this is the same person. But for whatever reason, back in 1914, 11, 14, it got registered in two registries for some reason. That was the redundancy back then. It could be a redundancy back then. But now you're bringing it. I didn't want to miss anybody. I just registered them twice. So I'm looking forward with the new generations and our new lives as we're going forward. We start from birth. Your entry goes into the blockchain. And from that piece going forward, fully encrypted, which we love, fully encrypted, authenticated on a ledger that goes all around the entire globe, has to be authenticated by at least so many minors to verify that that record is correct. And then it goes on to the next edition, the next edition, and the next edition. I'm telling you, this is in my somewhat uneducated opinion. And you'll talk about it when I'm dead and gone, which will be registered in the blockchain. Well, I think they should get some adults to run it instead of minors, though. That's all. Oh, no. How do you spell minors? Owls to run it instead of minors. You're killing me. I was just thinking out loud. Sorry. I caught it, though. It was one of those things, you know. Nicely done. I can go home now. I lost my blockchain. So you've got this incorruptible digital ledger. Unhackable. Unhackable ledger of health care transactions. Health care transaction. Programmed over your entire existence. Yes, over your entire existence to go from one spot to the next spot to the next spot. That's why if you look and if you do research now and you're looking on the internet and checking out things, I think there's at least eight startup technology health care companies that are using the blockchain as the foundation for research and all kinds of different things so that they can mine that data. So mine that data that's in the blockchain. So all of that's happening. IBM is putting millions of dollars into this particular space just because on the blockchain capabilities. It's a brilliant piece of technology. What I like is also the idea that it's forever. Yes. So the age of it, all the transactions are there and recorded so everything that starts with you ends with you can be verified. You know like you were talking about earlier maybe taking all the medicines that you took, all this kind of stuff. All the stuff is right there. Okay, so with that, so we've already burned through half the show already. Isn't it amazing how we just do this? So we burned through half the show. We're gonna come back and we're gonna look at from a pharmaceutical standpoint. What would happen from a prescription that got issued? Okay, awesome. And what might happen with that in the blockchain. Anyway, Gordo the tech czar, Andrew the security guy, Rick's the healthcare expert, aka the fundmeister. Former. The fundmeister. We're here and I'm about to be back in about a minute. This is Think Tech Hawaii, raising public awareness. You're watching Think Tech Hawaii, which streams live on thinktechhoai.com, uploads to YouTube and broadcasts on cable OC 16 and O'Lello 54. Great content for Hawaii from Think Tech. Living in this crazy world. So far up in the confusion. Nothing is making. Freedom, is it a feeling? Is it a place? Is it an idea? At Dive Heart, we believe freedom is all of these and more, regardless of your ability. Dive Heart wants to help you escape the bonds of this world and defy gravity. Since 2001, Dive Heart has helped children, adults and veterans of all abilities go where they have never gone before. Dive Heart has helped them transition to their new normal. Search diveheart.org and share our mission with others. And in the process, help people of all abilities. Imagine the possibilities. Hello, hi, and how are you doing? Gardner of the Tech Star here. We're here with Rick the Funds. Rick's the fundmeister, Andrew the security guy. I've only known you for like 30 years and I still get your name wrong. Anyway, and we're here talking about crypto, not cryptocurrency, but the blockchain, the foundation part. Blockchain and healthcare. Whether it can go there. We've got into a new discussion in the first half. But let's take it, let's just take a look and we'll try to walk through something, a prescription for drugs. Okay. And I have a slide and we'll bring that up. You can't see that on the, what's it called? On the blog. No, the podcast. The podcast. Yeah. Can't see that on the podcast. We'll try to explain. If you go to the website, we'll try to explain it and so on. So we're gonna bring this, we're gonna bring this slide up soon, I hope. And we'll show you, oh, there it is, there you go. So the blockchain and drug traceability, okay? So, and I'm thinking about, not only just, thinking about medical marijuana and all the other things that are happening. Okay. So you take a look at this, you take a look. Hey, that's why they were pissed off at DCCA. Anyway, another story. So the manufacturer produces the drug. Right. All right? Yeah. So that, that production of that drug goes into the blockchain. Okay. So it gets a unique code. It gets all its, It gets its information. It gets a unique code, right? And a hash is produced and it goes through the, it goes through the distributed ledger. And the hash is part of the blockchain. Part of the blockchain. Goes through the distributed ledger, worldwide and is authenticated and verified. The information is stored in the blockchain. Okay. About that drug. Now, the manufacturer of that drug sends the drug to the wholesaler. Okay. All part of the blockchain, that transaction moving to the wholesaler. Yeah. It's all in that blockchain. The wholesaler verifies the origin of the product. So you know they got it from there? Yeah. On the right, which is important. Because there's a lot of morphology coming in, about counterfeit drug, whatever. And the transaction is then also entered into the blockchain. Okay. So the history is there. Authenticated worldwide because it goes in a, in a non-centralized ledger, all around the town. Everybody agrees. Everybody agrees that this is real. This goes, so that goes there. So there it is, the whole seller says the drugs to the pharmacist. Okay. The pharmacist does the same process, right? So the pharmacist goes, the pharmacist verifies the wholesaler, but because the blockchain has all the technology, the previous pieces have already been authenticated and verified. They're real. And so now he is sitting on these drugs in the pharmacy. Right? Now the pharmacist, and we're going to go, we're going to sidebar after I do this. The pharmacist delivers the drug to the patient. Okay. Right? And he's competent. For you or me or whatever. He's got that. Right. So he knows it's the real stuff. The patient verifies the patient is, authenticates and verifies the origin of the drug. So they know it's not, again, because in an authenticated blockchain and the transaction between the pharmacist and the patient is now complete. So that just went there. My next question is, what about the insurance company? Right? What do you, were you entitled? Were you entitled? Are you covered? Are you covered? Does your medical plan cover that? Because when you go to the doctor today and you get prescribed a drug and the doctor electronically sends that to the pharmacy, the pharmacy has to then go and do facts or whatever. Facts. Your HMSA. Facts. HMSA. It's got to be, it's got to be HIPAA compliant. Yep. Facts is HIPAA compliant? If you call first. Oh Lord. If you call first. They said I'm sending you a fax. How do they cover it laying in the tray, then? I'm sending you a fax. So the healthcare expert, if you call first. You dreamed us up? I didn't dream of that. It was our federal government. He said he was giving this boy, he didn't make it. It was, it was right. All right, all right. So you call first. You call first and say there's a fax coming in from Mr. Bruce to prescribe him for this drug. It would be HIPAA compliant. Get there. Gotcha. So now, so all, so my whole point is, we just went through this transit, this part we went from the manufacturer of the drug all the way to it gets to the patient. What ties in with that as well is also the insurance part. The doctor writes this prescription on a piece of paper. They call it in from the doctor's office. All that stuff can be done in the blockchain. On the same blockchain. It has to be done in the background. Can, I mean, the piece that you had just showed the four steps, but the insurance, the doctor prescribing and getting the information, say if I pick up a prescription from my pharmacy. What's your co-pay? Then exactly what's my co-pay. The only way that the pharmacy knows that is that they have been talking to my insurance. Sure is company. Exactly. So it saves all that. It saves all that. So we're talking about some efficiencies here. Huge efficiency. Verifiable efficiency. And we're talking about, we've had previous shows we talked about the high cost of healthcare. Why do you think healthcare is so expensive when you have to send all these faxes? Make all these phone calls. Because he's using fax machines all the time. And some of it, I mean, if you have an HMO, and Kaiser would be an example of the HMO, that's one organization. And so my pharmacy, if I'm a Kaiser member, I go to a Kaiser pharmacy. They have that information, and it's all, all right. But if I have a non-HMO, say a, I'll just say a Blue Cross Blue Shield. Shield. HMSA type. Yeah. That doesn't own the pharmacy. The pharmacy's got to be talking with the doctor, with the insurer. And that's, of course, where this becomes even more efficient. So you take it to the next level. What if it's something to do with your, you've got some cancer, and you're going through different treatments. Treatment regimens. Treatment regimens, all the isotopes, all the stuff that's going on it. And tracking of all of that. What's that? 25% of healthcare cost is waste. Imagine this. 25% is waste. But also think about it. You've been in the business for a long time. You think that might be a little low? I'm not gonna make a comment about that, but. But if you reuse it, it's 25% is waste. Now if you can bring that waste down because of the blockchain, and all those records can be then used for research. That's what I was gonna say. All the research is automatically, it's verified, first of all, so we know it's valid, and it's all collected and available for mining. You can use that for research, but the other thing for, I think some of our viewers as well, is if I can lower my premium by 20, 25%, because if that is the waste number, then that cuts down my healthcare cost. If you're paying $1,000 a month and you get a 25% drop. Right, and I'm covering my employees and their families, or if, and another issue would be, of course, if I have to pay out of pocket, if I can reduce that cost by 20, 25%? Exactly. The other piece, though, is if that money can be, as you say, used for healthcare, the research part. Research. So yeah, so we had this. Then the healthcare can be stepped up. Could be stepped up. So one of the questions that someone asked me the other day, there was like, well, why would someone want to mine healthcare records? Because there's no one exactly money to it. But here's what it is, and this is what's happening. Researchers are turning into the miners of the blockchain for healthcare records because their reward is they get access to the data to assist them with their research. And so if you're a drug company or whatever, and you've got to deal with all those things, all of a sudden, now, you're going to turn into a mining company as well, not a miner, but a mining company. That's going to be... An adult mining company. An adult to be doing this, to be mining, because with that, you're going to get access to all this demographic data, incredible amount of data, on a single blockchain without going to thousands of databases all across the country with little doctor's office, dentist's offices, whatever, all in there and start doing your research. We get things like, that's why IBM's looking at it, right? They got Watson. Remember, Watson was the computer that was on Jeopardy and beat everybody on Jeopardy? Well, you know, there's a whole team doing Watson Health, where Watson is doing all of this analytics of all this data that's coming in from everywhere, including the medical journals, which you and I can't read all of them while we're doing our job, brings all that together and comes up with an analysis, and then also comes up with the best payment program. Awesome. All because we start looking at what's included in this block. I was thinking that even with that powerful data, because you can obviously see trends moving in a, just for example, let's just use opioids, for example, as the trend decreases, that manufacturer you talked about from a real-time raw materials perspective can begin to order less. Because he's gonna manufacture less. Can prescribe less. So the pot chain up and down hasn't been impacted. The doctor has prescribed less. I mean, I went in for a minor procedure a few months back. I got prescribed 20 opioids, 20. 20 pills. I used one and a half. Wow. Where'd the risk go? When they do the, when they do the, when they do the, you can turn your drugs into the place, the place where they do a thing, and I do it for most of them all. I'll just take them there. Nice. But if not, you can sell them on the street, which I ain't gonna do, but I'm just saying, why did I get, but if you, that was in the block chain, I mean, and you can also track these things now. You can put them inside. Well, if they were sampling your blood every day, they'd know you only took one and a half. You might get a drone from Amazon to come take your 18 and a half back, you know, I don't know. But you see, see where we can, not everyone's gonna go, this is big brother, this is big brother, this is big brother, but it's not, because it's an encrypted record. Yeah. It's really just a better way of managing data. Yeah. And the transactions between the data. Yeah, right. And keeping the cost now. And never guessing if they occurred or not, because we've got, it's not centrally managed, it's distributed. The distributed ledger is really the power of blockchain. You just, that's it. The distributed ledger, like there's no one central bank, there's no one central hospital, there's no one central blue cross, blue shield, there's no one central HMO, it's not, it's your, see, this is my point, it's my record. I wonder how to, It's my record. What do you think it'll take to get there? So, because obviously there's, it would be a massive shift in the industry. So would one of the big guys have to go and then everyone else follow? Would we sign up all the little guys first? Well, that's what we're gonna talk about on a future show. So guess what? We're done. Oh my gosh. Oh my gosh. So we're gonna have to hold this, because you know, depending on how what kind of reaction we get to the show, we can bring this to the next level. And if someone feels that they're an expert in this space, we're just having a conversation here, give us a call, because I'd love to have a hospital and insurer or whatever, come here and say to us, let's talk about how it's gonna work. Those are the big guys. Those are the big guys. And I better wake up to it. I'm telling you right now, when I'm dead and gone, remember it gentlemen, they're gonna say, remember that old fuck Gordo when you had this thing about the blockchain? Well, this will be, you'll still be on YouTube. Yeah, yeah, they'll bring it up to here. Hopefully, I'm sure YouTube will be in the blockchain. So your episode will never go away. And so will my death in the sight of my stone. Anyway, Gordo the tech star here, we don't have a cup today because there's no word guess, it's just us. So Gordo the tech star here, Andrew the security guy, Rick's the fundmeister, healthcare expert, par excellence. See my French? So par excellence. Anyway, we want to thank you for joining us here and here about to talk. Thanks everybody for making this work. We'll see you guys all next week. And like we say at the end of your show, how you doing?