Healthcare is in a state of crisis worldwide. Medical technologies are leaping forward at an unprecedented pace, carrying the potential of longer, healthier lives. But the systems that make them available to patients are in a bad way.
In areas like the U.S., prices are skyrocketing, limiting access to these kinds of new technologies. Other governments in the world are saddled with massive economic burdens to make sure decent healthcare is affordable for everyone. Meanwhile, poorer countries struggle to provide even basic health services to all citizens. A swiftly increasing population has proven to be a difficult influence on the healthcare industry.
This stagnant administrative situation is also holding back the development of medicine. While Google and Facebook are collecting intimate data on users’ likes and buying habits to make ads more targeted and relevant than ever before, the healthcare industry has been slow to implement efficient, unified data collection in ways that would improve quality of care, boost further research and grant access to more people.
Specifically, the biomedical industry has suffered from this state of affairs. Even while leaps and bounds are being made in this growing sector that has the potential to take healthcare to heights that industry professionals have been waiting for, poor data collection and usage, as well as high costs are limiting its spread.
Enter BioLife — a project that aims to resolve the issues plaguing the biomedical industry by effectively introducing another new kind of technology into the field: decentralized ledger technology (DLT).
DLT is on the rise around the world in a countless number of industries, from gaming to HR and education. In the same way that biomedicine is poised to overhaul healthcare across the board, DLT is set to change administrative systems in just about every field imaginable in favor of transparency and safety.
BioLife is using DLT to bring those much-needed characteristics home to the biomedical field. This new platform allows for the creation of transparent, yet completely secure patient medical profiles that serve two purposes.
One, such profiles in the form of decentralized ledgers provide patients with opportunities to receive better medical care. For example, patients in one country can now travel to another nation with better treatments and caregivers with access to their ledger will be able to make use of their medical information in treatments.
Two, such ledgers create the opportunity for researchers to access a system of reliable global patient data to study illnesses, track the spread of a disease and discover new healthcare practices.
This model also reduces costs in the biomedical field and keeps all information secured, preventing information breaches that have become all-too-common in the healthcare industry around the world. Healthcare doesn’t need to be a mess, it just needs to catch up with the times with a safe, decentralized solution like BioLife.
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