Healthcare Sector Ready to Experience Explosive Blockchain Adoption

News / 09.02.2020

It has been discovered that the healthcare sector is at a point whereby it would be among the top sectors to experience the most impact from blockchain.

While many would not first think of the healthcare sector when considering the sectors most likely to adopt blockchain adoption, a new report by TMR Research says the revolution is coming. The revolution would be such that every aspect of the sector would be impacted.

Part of the report noted some major movers in the healthcare sector for blockchain. They are IBM, Microsoft, Hashed Health, PokitDok, Guardtime, iSolve, Gem, Blackpharma, and Patientory.

Efforts to ensure that blockchain is adopted in healthcare will be worldwide; based on anticipations, a few regions will be the leader. It is expected that North America and Europe will experience a boost while Asia will experience real growth. The highest growth rate is anticipated in the Asia-Pacific region.

According to the report, payments will be easier for healthcare payers through payment networks based on blockchain. Likewise, security will be available to store confidential information on-chain.

There will be transparent tracking of supplies’ movement by Pharmaceutical firms through live data captured on a distributed ledger. The processes involved can be verified and validated by numerous parties thereby ascertaining full transparency.

The adoption of blockchain in healthcare also seems possible because it is still relatively unknown, hence its influence will be felt powerfully. A survey report noted that 44 percent of healthcare providers do not know about blockchain.

Blockchain may not influence all aspects of healthcare practices this year, but it appears certain that it will become a critical aspect of health services ahead. Leading companies such as IBM and Microsoft will be ahead in this growth opportunity.


Featured image courtesy of GettyImages. Source: Cryptopress.

A creative writer in the field of content writing for the past 7 years. Iulian is passionate about his work and his interest in areas such as technology, travel, sports, literature and gastronomy have aided him to the research quality in articles that reflect these themes. Recently, he discovered the Bitcoin and the blockchain technology and he’s a big fan now.