New Report Reckons That the Health Sector is Ripe for Blockchain Adoption

News / 09.02.2020

A new report suggests that the healthcare sector is ready to harness the benefits arising from the adoption of Blockchain technology.

The Report by TMR Research acknowledges that the sector doesn’t feature readily when considering those likely to integrate Blockchain solutions. However, it asserts that the revolution is imminent. It further states that the change would impact every aspect of the sector.

Global Effort for Adopting Blockchain in Healthcare

Additionally, the report went on to identify key players pushing for blockchain adoption within healthcare. These include IBM, Microsoft, Hashed Health, PokitDok, Guardtime, iSolve, Gem, Blackpharma, and Patientory.

The Report points to a global effort to embrace blockchain in healthcare. It however suggests that a few regions will be at the forefront of the technology’s integration. Consequently, America and Europe will take their place ahead of the queue. Asia will record real growth in the sector with the Asia-Pacific region accounting for the highest growth rates.

Health Sector to Reap from Embracing Blockchain

Moreover, the report contends that Blockchain-based payment networks will ease remittances. Moreover, the technology will aid in the secure storage of confidential information. 

Pharmaceutical firms will be able to institute real-time monitoring of their supply chain. The setup will ensure transparency as all the processes are open to public audit.

Novelty of Blockchain in Healthcare Essential to its Acceptance 

The novelty of employing blockchain tech in healthcare enhances the chances of its acceptance. Again, this newness will have a powerful influence on the sector’s running. A survey report indicates that 44 percent of healthcare providers are not conversant with blockchain technology.

The blockchain tech may not wholly influence healthcare practices this year. Nevertheless, it certainly will feature prominently in healthcare provision going into the future. Tech giants such as IBM and Microsoft will spearhead its entrenchment.

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.