Healthcare Industry Presents a Huge Potential for Blockchain Technology

People and media may say a lot of things about Bitcoin, but they are undeniably positive towards the technology. While the sudden change of heart may be attributed towards the sudden interest in blockchain technology shown by the very banks and financial institutions handling the accounts belonging to these publications. But the use of blockchain technology extends beyond the fintech sector.

Blockchain technology has a huge potential in the healthcare technology, says a recent article on Becker’s Health IT and CIO Review. The article quotes Micah Winkelspecht, the founder, and CEO of Gem, a blockchain technology company. He is reported defining blockchain technology as a kind of global computer that allows people to interoperate with each other in a trusted fashion. In other words, blockchain is a global trust machine created by a huge network of simultaneously working computers in consensus.

The potential of blockchain technology to revolutionize healthcare in unparalleled. It can be used to create and maintain medical records in a secure fashion while ensuring data integrity. By creating a blockchain infrastructure for the healthcare industry, it is now possible to create a network of all the stakeholders in the industry. These stakeholders will be able to access relevant data in real time and execute their end of tasks in a more efficient fashion.

The use of blockchain technology in the healthcare industry is already being explored by Estonia’s e-Health Authority, reports Becker’s Health IT and CIO Review. Estonia is working with Guardtime, a blockchain technology company to upgrade its national EHR system. Given some more time, many healthcare providers are bound to show interest in the technology.

With the inclusion of blockchain technology into the healthcare sector, the tiring paperwork and insurance claims will become a lot easier. In addition, it will also help the hospitals maintain up-to-date patient records irrespective of the healthcare provider. Even patients can h choose to have control over their medical data and share it with their doctors across the healthcare network.

About Gautham

I see, I think and I do… passionate about digital currency, start-ups and social good. I believe that if you mix them right, you can change the world. Find me @gautham_n on twitter or /gautham,nm on facebook