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How Can Blockchain Technology Help Reshape the Health Sector? – Blockchain News Today

Proponents of Blockchain say a “killer app” based on the
technology is imminent. The advocates claim that it will be an app that will
reshape the health care sector as we know it. But, there are five practical
uses of Blockchain technology that allows the distribution of digital data,
without the copying of that data.

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Blockchain Applications for Health Care Sector

 – Smart contracts
(contracts that are initiated when some
conditions are met)

– Supply chain processes (supply chains will be more
transparent and efficient when it comes to warehouse services and delivery of
medical items)

– Physician credentialing (ProCredex launched the
Professional Credentials Exchange to carry out physician credentialing using a
private Medicade managed care and
Medicare advantage plans as well as a
private Medicare claims processor)

– Peer-to-peer data exchange (a system that includes helps
in verifying clinical trial data and
preventing individuals from receiving multiple opioid prescriptions)

– Proof of Work (in cases of medical liability where
attorneys might claim that defendants have tampered with records, clinical
notes stored in the Blockchain time-stamped blocks will make a tamper-proof
ledger indicating what the physician did and when they did it)

System With No Government or Corporate Control

One reason why Blockchain technology shines brightly is that it is completely
autonomous of governments and corporations. Neither body can control the
technology. The founder of Disruption Joe, Joe Hernandez during the AMA event
said Blockchain is an open a permissionless
system that utilizes Bitcoin (BTC) as a
method of peer-to-peer payments system that governments can’t stop.

According to him the intended purpose of the Blockchain is
to bring “hundreds of thousands of individuals together without a boss. He also
added that the only flaw about Blockchain tech is that it’s best uses for the
health sector hasn’t fully been figured out. This
is a theory echoed by the CEO and founder of Forward
Blockchain Conrad Barski:

“We haven’t still discovered a ‘killer’ application for
Blockchain technology.”

Barski also went on to note that the emergence of a killer
app will ultimately change the system around the globe by creating a sustainable and highly beneficial use for the

Additionally, Charles Aunger,
who serves as the managing director of Health2047, the AMA remains an anchor
investor in Health2047, and the technology will need “air traffic control
eventually.” Suggesting that AMA could play
that role. Health2047 is a Silicon Valley-based innovation enterprise
that develops and commercializes
solutions for chronic care, data liquidity, and other health care issues.

Blockchain Just a Technology With the Power to Reshape

The AMA event held on the tenth
anniversary of the launch of a white paper that outlines the principles of the
peer-to-peer electronic payments system. According to a recent report by Deloitte
Consulting, the Blockchain is a “potential game-changer” when it comes to the
health care sector because it “offers a solution to easily manage health data in a more secure, trusted,
and automated error-free method.

Adding that the Blockchain is just a single technology that holds power to help reshape medicine. This can be
observed in the announcement by Amazon.com about developing
machine-learning methods to help physicians and hospitals provide better care
to patients.

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