Health Sector Gives Blockchain Glowing Prognosis

Securing safe interchange of patient data, improving the conduct of clinical tests and medicine traceability, and lowering costs.

Paris, (UrduPoint / Pakistan Point News - 6th Jun, 2018 ) :Securing safe interchange of patient data, improving the conduct of clinical tests and medicine traceability, and lowering costs.

These are just some of the potential boosts for global healthcare the widespread use of blockchain technology, still in its relative infancy, could bring to the table, the sector hopes.

The myriad potential applications of the cutting-edge technology used by cryptocurrencies led by bitcoin are countless -- and gradually making their presence felt, albeit for now in small, disparate doses.

The blockchain uses chunks of data via distributed ledger technology, permitting the secure, immutable and transparent sharing of almost any form of information.

The concept led Forbes magazine recently to observe that "it seems that blockchain is about to have an impact on nearly every industry".

The technology has steadily been creeping into sectors from finance and cybersecurity to logistics, from agro-business to energy via air transport.

In the health sector, a number of trial projects are already sifting data, the goal being to guarantee security of medical systems and manage patients' digital dossiers.

"Blockchain is already being used in pilots for health data analytics, medical device security and electronic patient records,"French pharma giant Sanofi said in a recent note.

"Beyond that is the potential to apply the technology to everything, from more efficient clinical trials and speedier approvals of new therapies to reducing counterfeiting and increasing transparency about cost."