Posted 11 months ago | by Ben Armstrong

Blockchain May Have Potential in Healthcare to Ensure Better Care

The implementation of blockchain in the US healthcare sector has created interest in how it could expand patient care over the last few years.

Recent cyber attacks targeting medical analysis facilities are clear evidence that it's not just businesses and institutions, but criminal gangs who have their eyes on healthcare development.

A recent report from DevPro Journal indicates that blockchain technology is potentially resistant to disruption and plays the role as a security solution to cope with ransomwares and hacking threats thanks to its central-failure-free feature.

Data access is only activated through a complex key, reducing the chances of cybercrime.

A Growing Need for Change

Some see the application blockchain technology in the healthcare industry urgent since there have been persistent attacks over the past two years. In 2018, more than one cyber-attack was committed against medical facilities and 503 breaches contributed to over 15 million patient records.

The number of infringements in 2019 rose by 60%, according to the DevPro’s report.

Professionals in the medical sector agree that blockchain will provide data security measures against ransomware. It will also provide many other benefits such as secure and detailed access to the global medical history of the patient. Entry to their data can also be regulated by patients.

Opportunities Come with Challenges

One of the challenges that blockchain devs face is industry adoption. A useful blockchain platform requires an enormous network of users. As the foundation is still in its early stages of development, the new technology needs to be implemented by all organizations involved in medical patient care and research.

Another challenge is storage. With blockchain, information is stored forever and cannot be modified, causing many shortcomings in some applications and in the longer run, a huge waste of storage space.

These challenges, however, do not lower the expectation of major healthcare players on the potential of blockchain technology.

The US Food and Drug Administration (FDA) was one of the first blockchain enthusiasts in the medical field, marked by its partnership with IBM Watson in 2017 to create a blockchain-based secure exchange of medical records.

Another significant name that embraces modern technology is Mount Sinai, with its establishment of a Biomedical Blockchain Research Center, aiming to develop its own medical research projects, and blockchain is applied to analyze the effects of its genome sequence across thousands of African people with sickle cell disease.

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About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Blockchain May Have Potential in Healthcare to Ensure Better CareBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.