Real-world Examples Of Blockchain In Healthcare

The use of blockchain technology in the healthcare market is expected to see a 52.1% CAGR between 2021 to 2027. This can primarily be attributed to the increase in the implementation of IoT technology.

Resultingly, Blockchain has the potential to revolutionize the healthcare industry. This will be made possible by improving transparency, security, and efficiency in various processes.

Further, the decentralized nature of blockchain allows for secure and tamper-proof storage of data. This can be exceptionally beneficial in the healthcare sector.

In this article, we will explore some real-world examples of how blockchain technology is being used in healthcare.

1. Patient Data Management

Ensuring the safety and accessibility of the patient's data is one of the biggest challenges in the healthcare domain. It is imperative that patient data remains safe, yet can be accessed easily by authorized personnel. With blockchain, patient data can be securely stored in a decentralized ledger. And it can then be accessed only with the patient's consent and by authorized personnel. 

Some examples of blockchain being used for patient data management include:

A. Hashed Health

B. Medicalchain.

2. Supply Chain Management

The supply chain management process in the healthcare industry is complex. There are multiple stakeholders involved in the process. And transparency and efficiency have to be maintained too.  with multiple stakeholders involved in the process. With the use of blockchain, tamper-proof records can be maintained, which will ensure transparency without hampering the efficiency of the supply chain. 

A key example of blockchain-backed supply chain management in healthcare is:

A. AirDAO

3. Clinical Trials

With new diseases being found every single day, clinical trials are becoming an increasingly essential part of the process of developing new treatments and drugs. 

However, clinical trials are complex and time-consuming. Also, there is always a looming risk of data tampering. With the use of blockchain for record-keeping, that risk can be eliminated while still ensuring efficiency and speed.

Some examples of clinical trials being powered by blockchain include:

A. Guardtime Health

The use cases of blockchain in the healthcare domain are many. And this list shows only a glimpse of the real-world applications.

Moreover, due to the evolving nature of the market, there is also scope for more ways in which blockchain can be used in the healthcare niche.

If you have an idea about leveraging blockchain for healthcare, you should definitely act on it by collaborating with blockchain development experts. With their skill and experience, you can bring your vision to life and make use of the security, speed, efficiency, and transparency of blockchain in healthcare.