The healthcare sector can benefit tremendously from blockchain solutions. A decentralized way to store patient records and other vital information will prevent information being leaked due to hacks. Putting together blockchain applications for the medical sector is not easy, though. During the recent ABN Amro Hyperledger hackathon, a medical data application won the event, which is not entirely surprising.
Blockchain Matters To The Medical Sector
Throughout the years, the healthcare sector has fallen victim to multiple cyber attacks. Ranging from ransomware to data breaches, securing patient records is a 24/7 job. Unfortunately, most hospitals have a small IT staff, which is not always able to provide the security standards this industry so direly needs.
It makes a ton of sense to decentralize the way medical data is stored. Using blockchain technology seems to be a matter of time, although there is no convenient solution to do so just yet. But that situation will come to change, as a blockchain-based medical data application was developed during the recent ABN Amro Hyperledger hackathon.
What makes this particular application so interesting is how it is a practical way to store and update patient records. In fact, both patients and medical experts are owners of the information, which is a big difference compared to how things are handled right now. This concept came to fruition with the help of various blockchain experts attending the hackathon.
The Hyperledger project is one of the many different initiatives exploring blockchain event. With the support of ABN Amro, IBM, the Linux Foundation, and Holland Fintech, this first blockchain hackathon was a great success. This medical data application, which was not revealed in specific detail, was the winner of this event.
The proof-of-concept app will be developed further during the upcoming Hyperledger Hackfest, which takes place over 3-4 October. There will be a similar even on a bi-monthly basis, as blockchain experts and enthusiasts come together to bring their expertise together. It is expected more details regarding this medical app will be made available once this event has concluded.
Another Validation of The Hyperledger Initiative
To this very date, many people think blockchain technology can only be used in a financial setting. Hyperledger goes to show there are plenty of other real-life use cases for decentralized technology. The initiative’s primary focus is to identify cross-industry opportunities and create open standards for distributed ledgers.
ABN Amro is an integral part of this project as well. The Dutch bank has been monitoring the progress of blockchain development and is keen to experiment with innovative concepts. They see a great deal of potential where Hyperledger is concerned. New insights procured by experimenting with this technology will affect other industries as well, including the medical sector.