Leveraging Blockchain Technology to Transform Global Healthcare
Blockchain technology has emerged as an innovative solution addressing long-standing issues in the medical field. While it is not a panacea for all matters ailing the sector, its application can significantly enhance existing practice and drive advancements in healthcare. At Pulse Network we are committed to improving global health by leveraging blockchain technology and applying it in ways that benefit medical practitioners and patients.
The use of blockchain technology in the medical sector has been limited as practitioners, technologists and entrepreneurs determine how best to deploy it. This has largely been due to limited research into and application of blockchain technology in the healthcare space. The Pulse Network team has taken the path less travelled, conducting extensive research and development to establish how the benefits that blockchain technology has brought to other sectors can be applied in healthcare.
This research has yielded deep insights, providing an understanding of what is required to deliver the best blockchain-based application for the medical field. These findings are fuelling our innovation and development efforts as we work to usher in the next phase for Pulse Network.
Opportunities Presented by Blockchain Technology
Blockchain technology is distinctly suited for applications where data transparency, immutability and trustless systems — where a process can occur without the user having to trust the entities with which they are transacting — are required. This is particularly relevant to the medical sector where network participants deal with important personal data. Blockchain technology is highly applicable to various healthcare use cases, including identification and verification of patients, transmission of patient information, supply chain management and data storage.
The immutability and data management aspects of the blockchain also offer an opportunity for the effective handling of patient data. The blockchain framework supports dynamic patient consent management by allowing users to limit access and use of their personal data. This is key to effectively managing sensitive health information that requires a permanent record and storage. This functionality allows medical practitioners to readily access a patient’s medical history to aid in diagnosis while ensuring the data remains secure and private.
Blockchain technology also provides a mechanism for meeting the information needs and policy goals of a well-governed health information system. The medical sector has long been characterized by knowledge asymmetry, with an inefficient flow of information limiting access to new models of diagnosing, treating and delivering care. The onset of COVID-19 accelerated collaboration between medical practitioners across the globe and highlighted the value of breaking down silos in healthcare.
Blockchain technology provides a robust infrastructure that can be deployed to accelerate the sector’s efforts for gathering, sharing and accessing knowledge to help improve delivery of healthcare. The blockchain model can support the development of a global medical database that hosts the latest research findings and new treatments that can be easily accessed by medical practitioners worldwide. This base layer of healthcare data can help bridge the gap between knowledge and expertise, enabling patients the world over to receive the best care and benefit from the latest advancements in medicine.
Pulse Network is building a repository that will aid in collaboration between specialists, researchers and patients to help develop new research and drive innovation and medical breakthroughs. By leveraging blockchain technology Pulse Network can democratize access to the latest diagnostic and pharmaceutical advances and contribute to the global advancement of healthcare data.
Insights on Global Blockchain Healthcare
Pulse Network is embarking on an exciting new phase to develop valuable solutions to the challenges that the healthcare sector faces today.
Going forward we are keen to bring you, our community, along on this journey. This article is the first in a new series to keep you updated, cover our progress and inform you of our next steps as we move toward a better, healthier tomorrow.
Stay tuned for updates, announcements and progress reports from Pulse Network.
