There are rumors abound regarding blockchain’s ability to free the healthcare industry from its current lull but how much of that is just crypto fan hype? Can blockchain technology really help to cure diseases like influenza?
WHAT DOES BLOCKCHAIN TECHNOLOGY HAVE TO DO WITH INFLUENZA?
If we’re talking about a direct relationship between blockchain technology and the influenza virus, we won’t get very far. Blockchain itself won’t help cure the disease. However, it can be instrumental in tightening up the healthcare industry. For the beginners out there, blockchain in a decentralized method of distributing, storing and sharing information. In the realm of healthcare, that’s particularly attractive. Using this technology, ransomware attacks would become ineffective and share valuable information would be a much more efficient and simple process.
BLOCKCHAIN TECHNOLOGY TO STOP THE SPREAD OF INFLUENZA
One of the best cases of the healthcare industry using blockchain technology is in regards to data exchange. Let’s take prescription medication as an example. The problem today is that hospitals, doctors offices, pharmacies etc all have their own method of data filing. Hence, this information tends to get mixed up over time. By having something like a blockchain medication prescription, all the medical details of a patient would be available for all to see. For example, pharmacies could see any and all events surrounding a certain prescription and act accordingly. Furthermore, healthcare providers could immediately look into a patient’s medications to make sure they are accurate.
BLOCKCHAIN TECHNOLOGY STARTUPS TO CURE INFLUENZA
Besides using blockchain technology to make information sharing more accurate, it has a wealth of other advantages. Take blockchain based startups for example. Let’s say a young scientist in South America found the cure for influenza but needs funds to continue his research. Coming from a disadvantaged country, he or she might not be able to find the proper investor. However, there are blockchain based crowdfunding options like YouToken that lower the barriers for someone seeking investment. Anyone in the world can advertise their idea/project and skip the bureaucracy altogether. in return, this will make investments more efficient and open the doors for a disadvantaged entrepreneur to make a difference in the world.