Impact of Blockchain
                     
Blockchain Technology On The Healthcare Sector
• Blockchain as a technology has grown to become one of 
the most influential inventions of the modern-day 
world. 
• The latest from the blockchain space is that the industry 
players believe the technology boosts the potential to 
transform the healthcare industry for a greater good. 
After disrupting every other industry on the planet, 
blockchain has moved towards the healthcare sector. 
Everything you need to know about blockchain
• The concept of blockchain technology is quite simple. It is a 
network of blocks that is constantly changing and growing, 
adapting to different industry needs as well as their peculiarities. 
• It is based on distributed ledgers that contain facts or information 
about the digital currency, such as the location of cryptocurrency. 
• In simple terms, it is a record of new transactions. For example, in 
conjunction with the medical sector, it can be a record of medical 
data such as patient vitals, medical device logs, or temperature of 
medicinal products during shipment.
Securing Patient Data
• In the present world, keeping the patient data safe is of supreme 
importance. Blockchain solutions for healthcare can help work on 
this aspect. The primary reason why blockchain can be helpful to the 
healthcare industry is its lagging security. 
• According to reports, between 2009 and 2017, over 176 million 
patient data were exposed during data breaches.
• Blockchain can help provide an unbreakable network that will keep 
patient data decentralized and transparent. Moreover, through 
dedicated healthcare app development using blockchain, patients can 
conceal their identity and protect their sensitive medical data. Thanks 
to the decentralized nature of blockchain, doctors, patients, and 
hospitals can share the same information safely and quickly.
Why blockchain’s impact on healthcare considered a 
big deal?
According to experts, it is a revolutionary invention that can solve 
numerous digital challenges like:
• Eliminating the need for third-parties, including banks and other 
financial institutions, reducing the cost of transactions through peer-
to-peer transactions.
• The data is stored across the systems rather than centralized 
databases, which makes blockchain highly secure and hack-proof.
• Healthcare app development with blockchain technology provides 
a great platform for innovative and new business models to 
grow within the healthcare sector and compete with conventional 
businesses.
Preventing Costly Mistakes
• According to reports, miscommunication between healthcare providers 
and doctors costs the industry around a whopping $11 billion a year. 
• It is stated that the time-consuming process of gaining access to the 
patient’s health records drains staff resources and could delay patient 
care.
• Incorporating blockchain into medical records can help solve this 
problem. The decentralized nature of blockchain helps in creating a 
single ecosystem of the patient data, which can be efficiently and 
quickly referenced by medical staff, doctors, and hospitals. As a result, it 
can help with the faster diagnosis of the patients and personalized 
care plans.
Supply Chain Management of Medicines and Drug 
Traceability
• It is quite difficult to tell whether the medicine you use is really 
• un-tampered. Moreover, you cannot also tell whether it is coming 
from a legitimate supplier. All these concerns can hinder the 
performance of the medial supply chain.
• Blockchain development technology can fill the void present in 
the pharmaceutical supply chain management. The decentralization 
ensures full transparency with the shipping process.
Supply Chain Management of Medicines and Drug 
Traceability
• The dream of improving the future of human health through 
genomics is now turning out to be a scientific and financial reality. 
Two decades ago, the cost of processing a human genome was 
estimated to be about $1 billion.
• However, in the present scenario, it is only $1000, with companies 
bringing DNA tests to unlock the mysteries of our past and clues to 
our health. Blockchain development technology can prove to be 
handy in this aspect as it can safely store billions of genetic data 
points without any hassle. Moreover, it has become a marketplace 
where users can store encrypted genetic information for creating a 
more comprehensive database. This can give scientists access to 
valuable data quicker than ever before.
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