Blockchain Technology: Breakthrough In Healthcare And Food Supply

The applications of blockchain technology seem to be innumerable. Different kinds of industries are resorting them in order to maintain uniformity and quality in their processes. Due to its diverse usabilities, many industries are eyeing it as an aid to their current problems. Several doctors and healthcare professionals have proposed the use of the technology to avoid mishaps like misdiagnosis and faulty treatment of patients. There has been an ongoing debate regarding the reliability of blockchain in maintaining healthcare systems. Quite a few experts in the healthcare industry are skeptical of the incorporating such tech, however, there are many others who feel that it can be the 21st Century solution to several loopholes in the current system.

By utilizing blockchain technology for tracking patient records and clinical trials, experts feel that the frequency of incidents like misdiagnosis, ineffective treatment, and drug adulteration can be avoided. The technology can be used for maintaining a systematic record of the patient’s medical history. The current healthcare system lacks much in uniformity and organization when it comes to keeping a track of the patient’s medical records. The use of the technology can systematically organize and track an individual’s medical records that could be used by the doctor for future reference, and it can also avoid occurrences like the deployment of ineffective/faulty treatments. This idea has been accepted by a substantial percentage of experts in the field, according to a report by Altcoin Buzz. In 2017, IBM conducted a study that showed around 16% of the healthcare executives as being interested to implement blockchain tech by the year’s end, another 56% were planning to proceed with it by 2020. Mistakes from the medical end are known to cause around 250,000 deaths/year in countries like the US, according to a report by CNBC.

Not only the healthcare industry but giants in the food supply domain are also looking to implement blockchain technology to create more reliable systems. Consumers can track the source, condition, and transport journey of any food item they want to purchase. The World Wide Fund (WWF) for Nature has developed a blockchain-enabled tracking system that tracks your food supply. It’s as simple as scanning the QR Code of a fish/meat product which one can get to know about its catching/farm location, transport method for supply and its date of arrival to the store, as per a report by Sustainability Times.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Yash has graduated with a B. Sc and has over 2 years of experience as a Content Writer. Having a creative streak, he has written for various genre ranging from health & fitness to finance, investments etc. Yash writes about the latest updates in Blockchain for OWLT Market.

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