Blockchain can and is expected to change health care. As blockchain technology becomes more common, it will make it easier for the stubborn medical industry to make changes. As ransomware attacks on hospitals and medical record servers increase, distributed systems for storing health records seem ideal. For example, when Anthem Insurance was attacked, they leaked records of 80 million patients, indicating that a single point of failure can cause everyone's information to be compromised.
Blockchains are not only useful for record storage applications. There are many companies and start-ups trying to use blockchains to change the way the healthcare industry works. Gem recently launched Gem Health, a blockchain network for the medical and pharmaceutical industries. Gem collaborates with the Philips Blockchain Lab, the Philips Group's blockchain research center. Together they explore the use of blockchain technology in clinical trials, drug supply chains, genetic data management, and universal medical records.
Australian startup Brontech has launched Cyph MD, a medical platform based on the Ethereum blockchain. They recognize the need to access data across platforms and how it affects diagnostic accuracy and reduces clinical errors. Using Ethereum's smart contract, Cyph MD plans to create a one-time identity check and online “identity†system that allows the entire medical network to communicate securely. Brontech CEO Emma Poposka said: “The hospital corridor is crowded with patients filling out forms. The medical staff is trying to find out the exact medical history of the patient. The unsafe way for doctors to use the phone to obtain data and patient consent is still considered to be Of course.
French startup Stratumn wants to use the conservation of the blockchain to ensure secure transactions between partners. They particularly hope to implement blockchain technology in clinical trials and work hard to combat data fraud. According to economists, “A study of 137 clinical trials last year found that 60 of the original trials did not find results. The COMPare project monitoring clinical trials found that so far, only 9 of the 67 studies. The results have been correctly reported.†These data support the argument that the transparent nature of the blockchain will have significant benefits for the pharmaceutical industry.
Another French startup, Blockpharma, is using blockchain to help fight drug fraud. Through blockchain technology, they can improve drug traceability and improve the ease of interaction between parties in the supply chain, even when it is discovered. Being able to easily retrieve data and prove that the document is not fraudulent or tampered with means that a company can accurately know which factory the drug came from and trust that information.
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