Blockchain use cases: Huge potential in the healthcare industry

Blockchain use cases in the healthcare sector?


Blockchain is a decentralized and secure method of storing and transferring data or information. The use of the technology outside of the financial sector and cryptocurrency is currently unpopular, but industry experts expect the technology to be fully adopted by other industries, including medical devices and healthcare. GlobalData estimates that the blockchain market will be worth more than $200 billion by 2030.

Data security and data storage on the Blockchain.

GlobalData estimates that the healthcare industry accounts for 6% of total global blockchain technology spending. The healthcare industry’s market share is expected to increase over the next decade as the technology becomes more integrated.

This is driven by the adoption of blockchain in electronic medical records (EMR) and integration in various sectors of the medical device industry. The technology represents a significant opportunity as it offers increased security for data storage and transfer of patients’ private medical data. It can also mitigate the risks of errors in patient records.

Supply chains with tracking on blockchain

Blockchain is used to give patients control over their medical records and could also be used to share live data from patients’ wearables and medical devices with their doctors.

Integration of the technology with medical devices has been less explored, but experts believe its primary role will be in supply chain tracking. The secure network offered by the technology could be used to closely track medical devices from manufacturing to installation of the device during patient treatment.

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