The blockchain revolution has made its way to the healthcare industry, and it’s only the beginning of what’s possible. Healthcare Rallies for Blockchain, a study from IBM, found that 16% of surveyed healthcare executives had solid plans to implement a commercial blockchain solution this year, while 56% expected to by 2020. Healthcare companies, tech innovators and the rest of the healthcare industry are grappling with what’s possible now and what blockchain could solve in the future.
The overall vision for blockchain to disrupt healthcare in the future would be to solve many issues that plague the industry today to create a common database of health information that doctors and providers could access no matter what electronic medical system they used, higher security and privacy, less admin time for doctors so there’s more time to spend on patient care, and even better sharing of research results to facilitate new drug and treatment therapies for disease.
What is blockchain?
While blockchain principles were first applied in the financial world as the technology that allowed Bitcoin to operate, it has applications for many industries including healthcare. Blockchains are distributed systems that log transaction records on linked blocks and store them on an encrypted digital ledger…