Blockchain Technology as we all know is gradually disrupting almost every industry given its inherent capacities for immutable, transparent, decentralized and highly efficient means for recording and sharing data and transactions.
Data here could be described as Raw unprocessed Facts.
The concept of Blockchain Technology is also highly significant for business, be it for global supply chain management, interbank transaction processing or even buying and selling real estate.
Flipmemes recently conducted an overview on how blockchain will change the world and thus have a huge impact on regular people like you and me.
As Blockchain technology earns its stripes through every successful implementation, human beings are urged to take advantage of the myriad benefits of blockchain technology in our daily lives without having to understand the highly technical aspects that make it work.
From the little knowledge I have as a Blockchain enthusiast, I can boldly tell you with certainty that blockchain is and would bring about equally valuable transformation that we can leverage today to improve our lives, due to its decentralised nature.
Applications of Blockchain Technology in Health Care
The value of blockchain technology in the health care market is expected to surpass $1.6 billion by 2025 (paywall).
Securely maintaining and efficiently distributing patient data is one of the ways in which blockchain is currently transforming the industry.
Enabling doctors, clinical researchers and pharmacists to access secure and reliable electronic health records, blockchain platforms facilitate managing extensive medical records while ensuring personal privacy and regulatory compliance.
Take for instance, a pharmaceutical Gaint, MediLedger is utilizing blockchain to provide a secure platform that offers its users the option of smart contracts and traces certain drugs usually offered as prescriptions from the manufacturer to the patient’s doorstep.
Thus, by utilizing a blockchain network, each step on the process is able to be stored and time-stamped.
Several other applications of Blockchain Technology, are currently in play, benefiting dozens of people worldwide.