Blockchain is a trend that has the potential to significantly improve the healthcare industry in 2020 and beyond. Digital ledgers will allow healthcare providers to securely distribute transaction records to patients while also greatly improving data security. The peer-to-peer system of blockchain enables large numbers of users to securely access a common ledger. There is no need for a basis of trust between two parties thanks to blockchain. As healthcare technology advances, portability, security, and accessibility are all desired goals that blockchain can assist in achieving alongside other trends such as IoMT and cloud computing.
Interoperability is one of the most significant advantages of blockchain in healthcare technology. There is greater integrity in the use of healthcare information when using public-private key methods. As an example, a specialist providing a consultation could be granted quick access to information via a secure system shared by all parties. Anonymity can be controlled so that patients can choose to provide data for research purposes. Finally, this would be in accordance with HIPAA and GDPR regulations.
Data integrity, security, accessibility, and portability are all high-demand features during the COVID-19 public health crisis in 2020. Blockchain is an important technology that can help healthcare providers communicate with COVID-19 patients efficiently and remotely.
Blockchain enhances transparency and integrity by providing complete visibility via the digital ledger. All transactions are logged through the blockchain system if there are concerns about counterfeiting or the supply chain. Because this is so easily consolidated, it also saves costs that would have been incurred by manually tracking these transactions.
It remains to be seen how blockchain will be implemented throughout the industry. In 2017, IBM began a research collaboration with the FDA to test how a blockchain system could help handle clinical study information, patient records, and patient wearable data using Watson Health. IBM Watson Health will launch Digital Health Pass, a blockchain certification solution, on October 13th, 2020. Companies will be able to conduct private health checks on their employees as a result of this.
The blockchain market was worth USD 2.01 billion in 2019 and is expected to grow to USD 69.04 billion by 2027, with a CAGR of 56.1 percent throughout that time.
ALSO READ Preventive Medicine Public Health and Healthcare Healthcare, Services and Technologies Healthcare Innovations Advanced healthcare Digital Health Primary Care Occupational Health and Safety Healthcare and Medical Informatics Personalized and Precision Medicine Preventive Medicine and Diabetes Preventive Medicine and Pediatrics Preventive Medicines and Vaccinations E-Health Preventive Medicine and Geriatrics Healthcare Statistics and Research Healthcare and Patient Safety Preventive Medicine and Community Health Preventive Medicine and Internal Medicine Womens Health Gynecology Healthcare and Midwifery Preventive Medicine and Oncology Preventive Medicine and Behavioral Health Psychology and Psychiatric Disorders Healthcare and Sociology Preventive Medicine and Adolescent Medicine Preventive Medicine and Sport Medicine Preventive Medicine and Family Medicine Healthcare and Tropical Disease Preventive Medicine and Pharmaceuticals Preventive Medicine and Infectious Disease Preventive Medicine and Dentistry Healthcare Management and Emerging Trends Preventive Medicine and Cardiology Healthcare and Global Economics Preventive Medicine and Nutrition Preventive Medicine and Pathology Healthcare and Optometry Preventive Medicine and Hospital Medicine Obesity Health Disorders Preventive Medicine and Chronic Diseases Healthcare and Audiology Preventive Medicine and Telemedicine Preventive Medicine and Nursing Preventive Medicine and Biotechnology Preventive Medicine and Dermatology Preventive Medicine and Hospital Management Virtual Reality VR Augmented Reality Healthcare trackers, wearables and sensors Medical Tricorder Genome sequencing Revolutionizing drug development Nanotechnology Robotics 3D printing The Internet of Medical Things IoMT Blockchain Privacy Issues Telemedicine Artificial intelligence
Geriatrics Conferences Chronic Disease Conferences Oncology Conferences Occupational Health and Safety Conferences Clinical Medicine Conferences Primary Care Conferences Nano Medicine Conferences HIV/ AIDS Conferences Pediatrics Conferences Endocrinology Conferences Nutrition and Heath Conferences Preventive Medicine Conferences Digital Health Conferences Family Medicine Conferences Cardiology Conferences