The healthcare industry is one of the biggest beneficiaries of the blockchain revolution. It promises to single-handedly safeguard vital patient information which would allow the caregivers and doctors uninterrupted access to a plethora of information. The healthcare industry is heavily dependent on crucial patient information. To date, this practice was never centrally managed and lead to several confusions and lack of accessibility to vital patient data within a very short period of time. There are several medical instances where patient information becomes vital. A decentralized globally accessible platform would be the best solution for the entire medical ecosystem. The recognized parties would have access to the vital patient-level data which would automatically change the very nature of healthcare. By sharing a login key and a patient login password, the doctor and the caregiver party would be able to access vital information right from the point of inset.
In particular, the blockchain technology provides the following over the medical industry:
Decentralization of command and control: The decentralization of command and control is one of the most amazing aspects of blockchain commissioning. The very essence of blockchain involves the decentralization of command and administration without compromising on the security part of the trade itself.
Immutability: The very basic nature of blockchain makes it one of the most immutable platforms of the world. It simply provides a security layer around the very ecosystem of a secured transactional ecosystem.
Infinite storage capacity: The storage capacity of the blockchain-driven solutions makes it an obvious choice for the medical industry. There have been several storage data systems that have been time tested and naturally exposed to different operating environments.
Although in its nascent stages; the application of blockchain in the medical fraternity is bound to take a greater impact with greater adoption of blockchain technology. The year 2020 will see several notable improvements and corporate initiatives for the large scale implementation of blockchain technology.