Healthcare – The Challenges And Opportunities With Blockchain – Benzinga – Benzinga

Healthcare – The Challenges And Opportunities With Blockchain – Benzinga – Benzinga

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The untapped potentials inherent in the distributed ledger technology can be harnessed to revolutionize the healthcare industry. It creates an avenue for improved and personalized care. It will address data privacy concerns, and open doors for possibilities that never existed in the current system. This is in line with UN 2030 vision, agenda 3 on good health and wellbeing. 5ire is a blockchain ecosystem built with this vision in mind. It is on this note that 5ire aims to revolutionize healthcare with its blockchain technology, a step towards a sustainable future. 

Healthcare – The Challenges, and opportunities with Blockchain

Despite the advances in healthcare delivery, the sector still grapples with challenges from data privacy, fake drugs, efficient record keeping and many others. To solve these problems, blockchain is indicated to have far-reaching potentials in revolutionizing healthcare practice. 

The world is experiencing a radical shift in technological advances. The most prominent of the technologies stands to be distributed ledger technology. Since the creation of Bitcoin, researchers are looking for ways to explore this tech and create new solutions. This nascent tech is poised to create a radical shift in many industries and its footprints are already present in healthcare. 

As a distributed ledger technology, blockchain can put an end to sluggish and bureaucratic processes the healthcare industry is known for. It will solve many of the challenges in this sector, while enhancing personalized and more effective delivery. Beyond the patient concerns, it will create a platform for further innovations as other technologies utilize blockchain to engineer new solutions. 

Ways the Blockchain can Impact the Healthcare Sector

5ireChain can be applied in countless ways to improve the healthcare system, from delivery, clinical research data management, Internet of Medical Things, AI-assisted practice and others. 

Personal Data Management

The healthcare sector handles a myriad of sensitive information, raising the concerns for data privacy. The current practice in healthcare entails that patients place their personal data in the trust of a centralized data management system. This poses an unparalleled risk because this data can easily be lost in the event of a successful attack on the database.

With blockchain, a decentralized and universal database can be created for health related data, hosting hospitals and other healthcare facilities. This will enable interoperable sharing of data across health institutions, research centres, insurance companies and other bodies, all with improved security. 

Clinical Research

The healthcare sector relies heavily on research to find out more effective ways of health delivery. Research can be to develop or test new drugs, gather information about a novel disease or infection for better diagnosis. This involves studying patterns of diseases and comorbidities that accompany them. 

Health institutions and research centers can collaborate with data sharing without breaching the privacy of the patients concerned. Furthermore, patients will have the option of opting out of research because they have the ownership of their data, or otherwise incentivized for participating. 

Collaboration Among Professionals

When information is readily accessible over the blockchain, clinicians can cooperate towards providing the best medical care for a patient irrespective of their location. On a similar note, in the event whereby a patient changes location, the next attending clinician can easily access the prior treatment the patient is undergoing, giving them an insight into how to continue delivering treatment.

AI-Assisted Diagnosis

AI-assisted diagnosis can enable a personalized and precise diagnosis. The data collected over time about a disease can be used to teach intelligent robots how to make diagnosis. This will serve as a guide to clinicians while reducing the time it takes to arrive at a diagnosis and map out a treatment plan. 

Real Time Patient Feedback

With the help of wearable IoT devices, patient data such as vital signs can be sent to a clinician remotely and in real time. The effectiveness of a prescription or its side effects can be monitored on the go. These devices can also raise alarm or prompt the patients and clinicians of critical health status that needs immediate attention. 

About 5ire

5ire is a blockchain ecosystem that aims to drive the shift from a for-profit to a for-benefit economy using the blockchain technology. In a world where concerns are raised about a sustainable and greener future, 5ire is taking the lead to build this future with only two things – the distributed ledger technology and an insane drive for success. 

In the face of the challenges experienced by the current healthcare system, 5ire is putting out its blockchain technology as a lasting solution.

Media Contact

Company Name: 5ire

Contact Person: Vilma Mattila

Email: Send Email

Country: United Kingdom

Website: https://5ire.org

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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