If you know me in person, you will know that one of my investment focus is always healthcare/biotech/life science. Lately, there are couple of areas the sector has been focusing, such as Artificial intelligence, Genomes, 3D-printed implants etc.
To begin with, I will like to make clear that the A.I. which I mentioned above is on drug development. In line with heading, my major focus for this passage will be on blockchain related solutions for Healthcare.
Healthcare sector as a whole have been developing robustly yet the patient side is always neglected and that‘s the chance for blockchain solution - Patient data.
There are slight innovations in handling patient data if not none throughout the past years. Clinics or hospitals simply change the storage of client’s data from paper to computer but without encryption. What does that mean? This means clinics or hospitals loss their client’s medical records or easily being stolen.
These medical records are valuable assets, especially for medical records regarding rare diseases, which should be kept well. These records can help pharmaceuticals to develop new drugs, aid doctors in diagnosis when acting as a reference and fulfill one’s medical needs when used for precision medicine.
So, here comes Blockchain.
By exploiting the blockchain technology, data can be stored securely or transmitted with the consent of the patient etc. All parties, no matter an individual or large pharmaceuticals, can harness the value. Individual can sell it, pharmaceuticals can employ big data to analyse it.
Wrapping up, I believe healthcare sector is ripe for disruption and Healthcare in Blockchain shall be a secular investment despite the reluctance and time needed to adopt new practice.