Ant Financial has been secretly experimenting with blockchain technology applications. The Alibaba financial affiliate has sent out nearly 600,000 blockchain electronic medical bills to patients over the past two weeks,  according to Sina (in Chinese).

According to Ant Financial’s blockchain expert Yang Xueqing, the true value of blockchain medical e-bills is that it can prevent multiple reimbursement scams—re-submit a claim and be reimbursed multiple times. The difference between a blockchain e-bill and an ordinary one is that blockchain e-bills can keep a ledger of billing records that is trackable, irreversible and cannot be tampered with. Thus, it is able to reduce fraud cases like “double dipping” in medical billing. Blockchain e-billing is most suitable for use for high-frequency transactions like in medical billing.

Medical e-bill is just one of the applications of the consortium chain that Alibaba has been focusing on. As understood, the nodes on the blockchain network include hospitals, local finance bureau, social security bureau, information security solutions company Aisino Corporation, and Alipay.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.