It’s impossible not to think about blockchain every time somebody mentions bitcoin, considering bitcoin has been in the news lately. Though the two are interconnected, blockchain’s significance is thus limited to a few popular use cases, and many often forget the numerous other industries and applications that blockchain increasingly pervades. While the current surge in bitcoin’s value only reinvigorates this association, a novel and more crucial application of blockchain has also emerged—the COVID-19 vaccine.
Enabling Transparency in the Healthcare Industry
The pharmaceutical and healthcare industries have already experienced radical digitization. The past decade witnessed a ninefold increase in the number of hospitals that adopted an Electronic Health Record (EHR) system, according to healthIT.gov. With the industry turning to more digital options, blockchain can serve as an accessory as well as an indispensable source of solutions to overcome inefficiencies in healthcare. As digital natives, we can foresee some applications.
Take, for example, the healthcare industry’s eleven-billion-dollar challenge, i.e., miscommunication, according to a Ponemon Institute survey. Patient and health data is often dispersed across various facilities …