Blockchain is the new revolution in the Health Industry
Blockchain is the new revolution in the Health Industry

How often do we visit a doctor in a year? I guess, at least once twice a year. This shows us the importance of medicine in our life. Now, on a world map, if we mark the hospitals and the medical centers, no wonder the whole map would be painted by plus sign. This indicates the grandiose of the Health Industry. It is the most in-demand industry with many hurdles to meet those demands and the biggest hurdle being the security.

We agree that medical facilities use security software, protect their information on the cloud, but are they really safe? And if they are not safe, how can we do that? The answer is Blockchain. Recent tech partnerships give us an idea about the growth of this software platform for digital assets.

Blockchain provides integrity to the healthcare information. It also makes it easy to track the drug dispatched from manufacturer to the patient. It provides smooth connectivity, strengthened by smart contracts and authorized transactions. Before going further, let us first know what are smart contracts?

Smart Contracts

smart contracts
Smart Contracts enables a machine to machine network making the communication and transaction faster and secure. Blockchain being a digital ledger helps to make the data permanent. Using a smart contract can help you send the patient invoices protectively and have them process immediately illuminating the middle-man who makes the process slow

Some of the newest partnerships

PokitDok with Intel-

The healthcare API company PokitDokteamed up with Intel to create a blockchain solution ‘Dockchain’ for the healthcare industry. The highlight of the solution was Intel’s Software Guard Extensions technology to enhance the security.

IBM Watson Health with USFDA-

IBM believes blockchain will provide a solution for fast and efficient transactions and improved security. Thus, they collaborated with USFDA to conduct research for blockchain applications towards the exchange of data.

NMC Healthcare and UAE Telecom du-

UAE took part in the revolution by partnering with NMC Healthcare for implementing blockchain in the patient information management within the country.

Philips with Tierion-

In late 2015, Philips Healthcare partnered with a Blockchain- based startup Tierion to explore the potential blockchain tech can provide to the industry.

The present-day scenario of Health industry is disrupting. To utilize the medical records to maximum, interoperability, integrity and security of the data is must which could only be provided with the help of Blockchain.