Healthcare blockchain, Medicalchain, based out of UK is pioneering patient-controlled healthcare records with unprecedented success.
Blockchain is a technology which has unlimited applicability. Cryptocurrencies are just one type of the vast cases to which it can be adapted. The advantages and benefits of blockchain are the decentralized distribution or ledger technology. As the non-fiat currency setups roots as an alternative system of transaction, the goodness of blockchain are in parallel being explored by umpteen other industries, including healthcare and finding long-lasting solutions and more.
One of the cornerstones of healthcare is Electronic Medical Records or EMR, especially when addressing an emergency. However, the conventional record keeping infrastructure could be frustrating for both the patient and the doctor treating them since the means to access them could be a challenge. Besides, the actual owners of the record, namely the patients, are often at the mercy of the system and often do not have the ‘rights’ to determine what they wish to share and what they do not want to disclose.
The result of such frustrations resulted in the UK the formation of a blockchain based healthcare platform called MedicalChain for the maintenance of medical records on the decentralized system. The idea of the project was pitched Dr. Abdullah Albeyatti who states that his frustration with treating patients without their medical records was frustrating and he wished to find solutions for this vexing problem. His solution came in the form of Mohammed Tayeb who pitched the blockchain idea but also introduced a value-addition allowing the medical research sector to have unlimited data for advanced studies and meta-analysis. The sector is currently bogged down by endless regulation and government processes which have limited the quantity and the quantity of medical research coming out of organizations. Besides the costs of such research is very expensive and involves a lot of time factors.
Medical research, in combination with Artificial Intelligence, is expected to have unlimited scope for the community. Another healthcare blockchain service is tracking medicines, especially in developing nations where counterfeit drugs are a fatal concern.