The cryptocurrency space is continually getting massive adoption in different sectors, and it is no longer for its financial application alone. It is not surprising to see blockchain in sectors such as healthcare. This is one industry with cases of data breaches in the huge amounts of data it holds and also experiences inefficient practices. Blockchain adoption would be of great help. With numerous projects already kicked off, the move has great potential in reviving the capabilities of the industry. Please read on to find out about these largest blockchain projects by different companies in the healthcare industry.
What comes to your mind when you hear counterfeit and low-quality drugs in the healthcare sector? You no doubt instantly think of the negative impact they have on individuals’ health. What’s more, they might even lead to deaths, and there are thousands of annual deaths reported as a result of counterfeit drugs. Unfortunately, the cases seem to be increasing in recent years. It is no wonder different countries across the globe are in a fight against this issue.
One of the healthcare companies seeking a solution to this is BlockPharma, through its application of blockchain. It is a creation of a biotech firm in France, CrystalChain. Their application helps trace how legitimate the pharmaceuticals are so that no counterfeits get to the people.
BlockPharma has an app that helps in the fight against counterfeit drugs. Nonetheless, the app helps monitor the supply chain of the pharmaceuticals, from the moment it is manufactured to the point it gets to the end-user. Therefore, this is no doubt one of the largest blockchain projects benefiting the healthcare sector.
This is another popular name in the application of blockchain in healthcare. It helps solve the issue of patient management; documentation and records. On many occasions, the transfer of patient documents from one physician to the other is rampant.
Also, it is so frustrating to have the electronic health records (EHRs) of patients all over the place. IRYO utilizes blockchain to offer a solution to this issue. It helps store and connect all the HERs through a decentralized system.
Another beauty of this company is its ability to offer customization, who wouldn’t like such flexibility? As a patient, you can use IRYO to define those with access to your health records. Also, there are IRYO tokens that you can use to process the payments. The tokens are compensation in case you provide your valuable medical info.
The list of the largest blockchain projects in healthcare is incomplete without a mention of FarmaTrust. This London-based company is using blockchain to bring a change in the industry, through its innovative approaches that help track pharmaceuticals. Its AI and machine learning services are beneficial solutions to the healthcare sector. They are effective in digitizing pharmaceutical operations and help automate the processes.
Notably, the company collaborates with top pharmaceutical agencies in offering its immutable and accountable benefits to healthcare records. Nonetheless, their platform can help in forecasting and planning. Therefore, customers can utilize their data to make some important decisions.
This is another company that utilizes blockchain to help with electronic record keeping. The England-based company ensures it has integrity in its health record keeping. Its record of origin is one of its pros. The good thing is, that the patient’s identity protection is one of the company’s goals. Therefore, a doctor, laboratory, or hospital can request their information, but their identity is well protected from any outsider.
Furthermore, the company has a telemedicine platform that allows patient consultation with doctors via video. It is called MyClinic. The patients then pay for the consultation services using their tokens.
As a patient, you may want to get access to data relating to your health status. In such a case, a distributed application such as Patientory can be of help. It uses blockchain technology in the platform so you can get the data. Where does it obtain the data though? It combines all the data from the EMRs so you can receive them on one platform.
Moreover, Patientory utilizes smart contracts to offer continuing medical and patient care for its users. So, what should you do if you want to benefit by taking control of your health with the help of this mobile application? You should have it on your device, and create an individual profile. This way, the application gets access to your medical data on the blockchain.
The good thing with this application is that you have direct contact with the service providers. This makes it easier for you to discuss whatever symptoms, issues, or health problems you may be having. You can do this with other users on the virtual platform as well.
If there is a company with numerous solutions to the healthcare industry, it has to be Guardtime Health. It utilizes blockchain to improve the transparency of the information in the sector. Furthermore, users who like to stay anonymous when their information is out there can enjoy using Guardtime. It can use their personal health data for research without the disclosure of identity.
Furthermore, Guardtime integrates blockchain-based data into electronic healthcare management systems. The beauty is in how flexible it is at this.
Cybersecurity is another area the company addresses. It has been an issue and continues to be of concern. Therefore, it is not shocking that cybersecurity strategies are essential in healthcare. Guardtime is here to help the healthcare sector address this issue. It helps companies in the industry incorporate blockchain into their cybersecurity systems.
Therefore, healthcare providers sign deals with Guardtime to help incorporate blockchain into their systems to ensure privacy. Guardtime is a blockchain startup in the healthcare sector that has credible partnerships already. An example is its collaboration with the Estonian eHealth Foundation in 2016.
Blockchain Transforming Healthcare
Blockchain has numerous promises to the healthcare sector. It helps address issues and problems facing the industry. It not only helps with secure massive data storage, improved security, and improved transparency but also helps with top-notch efficiency in the sector. The good thing is that certain companies have already leapt into introducing blockchain in healthcare. They offer different values to the healthcare sector and are set to improve the practices and operations in the industry.
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