Three ways blockchain will transform the healthcare industry

Three ways blockchain will transform the healthcare industry

Blockchain has huge potential for healthcare—but it needs a new approach before it can take off, say the experts at Fintech Connect.

Image: Unsplash Healthcare is seen as one of the industries ripe for disruption by blockchain technology —but the industry needs to embrace a new culture of experimentation to realize its potential, said speakers at the Fintech Connect conference in London.

According to a panel of experts that straddled the worlds of healthcare and blockchain , there are three key areas where blockchain could revolutionize the healthcare industry.

The first, said Anca Petre, co-founder and CEO of blockchain consulting firm 23 Consulting, involves giving patients greater control over their data. “Blockchain is exactly the correct tool to use in order to give the patient control over his data,” said Petre. “There are studies today that show that 82% of patients want to know how their data is used, and who uses their data; they want more visibility and today this is something they don’t have.”

The second area where blockchain could have an impact is on the pharmaceutical supply chain, said Lara Verdian, head of healthcare & COO at blockchain operating system Quant Network. “A lot of the effort is through is driven by regulation,” said Verdian. “The US Drug Supply Chain Security Act is driving a lot of collaboration and initiatives for the use of blockchain in addressing some of the requirements.” Verdian also highlighted the European falsified medicines directive as another driver of blockchain adoption in medical supply chains.

“If […]