Blockchain Innovation In Healthcare And Life Sciences

“The blockchain is the most consequential technology since the internet. The internet is programmable information. The blockchain is programmable

Sourced through Scoop.it from: www.huffingtonpost.com

Blockchain is way of organizing online data. It makes a digital ledge of transactions, and then shares it among a network of connected computers. However, the distribution network could include smartphones, tablets, or even cloud resources. It’s main benefits are that it’s secure, anonymous, and universal. Plus, it provides its superior security alongside reduced transaction costs because it’s automatically connected to every part of its network. According to Balaji Srinivasan, CEO of 21.co, “The blockchain is the most consequential technology since the internet. The internet is programmable information. The blockchain is programmable scarcity.”

Recently, blockchain has been changing the healthcare and life science industry. For example, when blockchain is used to secure Electronic Health Records  (EHRs), it eliminates the need to have Health Information Exchange, all-payer claims database, or Electronic Medical Records. This is because blockchain can connect people directly to their data in a way that is both secure and efficient. Essentially, it ties patients to their data, rather than to their  identities.

There are even more uses for blockchain outside of connecting service providers to their customers. For example, clinicians have found that a decentralized ledger allows for a simpler, quicker and cheaper way to share peer-reviewed research. Needless to say, this technology is already making an impact in the fields of health and life sciences.

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