Is Blockchain affecting the Health Indsutry?

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The ultimate goal is to provide both easy and safe access to the information (improved security, effective distribution of information among involved parties, anonymized data pools for research companies and new ways to fight counterfeit drugs.)

Healthcare is an industry where patients’ information could be processed by numerous institutions like private or public hospitals and clinics, general practitioners and analysis labs.

“Blockchain technology is set to change the way healthcare is managed forever. Blockchain allows for clinicians and patients alike to be confident that the medical records are accurate and up-to-date as the distributed ledger guarantees an incorruptible, trustless version of the data which can be depended upon at any given time. An indisputable single version of the truth is not achievable with today’s current systems and infrastructure.”

US healthcare giant UnitedHealth Group announced the partnership with other industry players in using Blockchain to keep records up to date via its Optum subsidiary.

MedRec’s Blockchain system is sustained by miners. But MedRec doesn’t run cryptocurrency transactions, and, therefore, miners who offer their computing power to verify data are not given a monetary reward. Instead, they get access to aggregated and anonymized data from consenting patients, which is an important resource for research companies developing new drugs and treatments — having access to a pool of genetic data can significantly speed up their operations.