The Impact of Blockchain Technology in Global Healthcare
Blockchain technology is disruptive to the traditional healthcare industry across the globe. It enhances data security, transparency, and speeds up processes. Essentially, blockchain technology is a decentralized, immutable ledger recording transactions across many computers—making it close to impossible to alter or hack the data. This feature is fundamental in health, where security of patient data is paramount.
Probably the most far-reaching impact blockchain has had on health care has to do with the integrity of a patient’s medical record. Securely storing patient data, blockchains reduce the likelihood of data leakage and simultaneously ensure that patients’ information is accurate, available, and integral to attaining better treatment results and faster care delivery.
The blockchain also provides smoother and faster clinical trials by allowing for a transparent platform on which researchers, doctors, and regulators are enabled to share data. It provides for a safe exchange of information while maintaining patient confidentiality, thus giving way to the speeding up of the development of new treatments and therapies.
The blockchain is also improving health supply chain management, which will ensure medications are both authentic and safe. Blockchain tracks drugs from the manufacturer to the consumer, hence ensuring health and safety to patients as an outcome from prevention of counterfeit medicines.
One fast-maturing technology, blockchain has the potential to change health systems around the world for better security, efficiency, and patient care.
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