blockchain technology

The Health Sector Gives Blockchain Technology Ultimate Seal of Approval

Proponents believe that Blockchain can revolutionize certain data analysis and also increase responses to health problems. These health problems include ensuring safe patient data exchange, improving clinical test performance and drug traceability and reducing costs. These are just some of the important boosts for global healthcare. The widespread utilization of Blockchain technology, even in its relative infancy, could meet many of the expectations of the health sector.

The countless potential applications of advanced technologies utilized by cryptocurrencies, which is being lead by Bitcoin, are making their presence felt gradually, although at this time they have low and different doses.

The Blockchain technology uses data fragments through a distributed book or ledger technology to enable inflexible, secure, and transparent sharing of almost any kind of information. This concept brought the Forbes magazine to notice recently that the Blockchain technology seems to have an impact on virtually every industry. 

Sectors already infiltrated by the Blockchain platform

The Blockchain technology has constantly infiltrated sectors ranging from cybersecurity and finance to logistics, from energy to agro-business and to air traffic. In the health sector, several test projects are already evaluating data in order to guarantee the safety of medical systems and manage patient’s digital files.

Blockchain technology is already being used in pilot programs for analyzing health data, the safety of medical devices and electronic medical documentation,” said French pharmaceutical giant Sanofi in a recent note.

In addition, there is the possibility of applying blockchain technology to make clinical trials more efficient, faster approval of new therapies,and increasing the transparency of costs.

IBM Watson Health’s reason for using a Blockchain technology

In the U.S, IBM Watson Health co-operates with the US Food Safety Authority, and the Food and Drug Administration to create a Blockchain technology based secure and data exchange system. IBM Watson Health also works alongside the United States Center for Disease Control and Prevention (CDCs) in order to determine how Blockchain technology can facilitate secure data sharing.

The idea is to use Blockchain for the revolution of data analysis through improved cognitive computing, as well as epidemiological responses to health crises like that in 2014, when the CDCs was criticized for its response to four Ebola laboratory confirmed cases in the U.S.

How MyHealthMyData uses Blockchain technology

In Europe, MyHealthMyData makes use of a Blockchain model which is compatible with the new tough privacy laws in the EU that came into force last month on the protection of personal online data.

We store information links only in Blockchain, not the information itself,” MyHealthMyData coordinator David Manset disclosed to AFP.

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