BLOCKCHAIN

Benefits of Blockchain in Healthcare

Currently best known as the technology behind the success of Bitcoin and other crypto coins, blockchain is undoubtedly the century’s most ingenious innovation. This new tech has revolutionized the very basic rubric of digital information.

It works by distributing data through nodes, which is a process recorded on a decentralized digital ledger. Because of its nature, blockchain technology has revolutionized accountability, traceability, and transparency in transactions. It has the ability to make transactions and store records without central oversight. Thanks to these features, it is increasingly adopted across many industries.

Implementation of Blockchain in Healthcare

It is not possible to mention blockchain without mentioning the healthcare sector. Although this industry is sluggish in adopting this ingenious innovation, probably due to the majority of it being under government legacy, it is bound to benefit greatly.

The healthcare providers who have already adopted it admit that this technology is highly effective when it comes to storing and retrieving medical records. MedRec, SimplyVital, and PokitDok are just but a few of the blockchain startups in the healthcare industry.

It must be noted that blockchain could be used to manage patient incentive programs. The Blockchain technology can be easily adapted and used to award patients for doing assigned tasks like performing regular check-ups, reporting their health conditions, etc.

The permanence of the record is also a quite interesting innovation that could prove to be really useful. If we were to implement blockchain technology in our healthcare systems, once data has been added to the chain, it cannot be deleted. This is extremely important since it would completely rule out tampering with medical records which is one of the biggest problems in today’s medical industry.

Bottom Line

There are many other potential applications in the healthcare industry, so it’s no wonder that the blockchain tech has been getting a lot of interest in this area. There’s no doubt that there are some positive applications of the tech that could prove interesting.

To learn more about blockchain disruptions and the way in can revolutionize healthcare worldwide, take a look at the infographic.

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