iot health

IoT Evolution Health News

IoT Evolution Health Home

Healthcare Organizations to Adopt Blockchain by 2020, DMI Says

By Ken Briodagh
September 06, 2018

In a recent statement, Jake Meisenbach, Senior Consultant, DMI, said there is a great opportunity in applying blockchain to disrupt the healthcare sector. Taking a closer look at how this technology can be leveraged and its pitfalls could create an opportunity to transform the healthcare industry and turn it into one of the most secure data-driven sectors, he said.

According to Juniper Research’s July 2017 report, 67 percent of enterprises had spent more than $100,000 by the end of 2016 and 91 percent planned to spend more than that in 2017 for the deployment of blockchain technology. The potential for trust-building, through the native functionalities of the technology is what makes it applicable to a plethora of sectors - from financial through, legal, logistics and especially healthcare.

Apart from the obvious application in the financial/transaction side of the industry, there is great potential in achieving medical breakthroughs through the use of patient data, in addition to the detection and prevention of counterfeit drug distribution.

Being able to collect, store and analyze medical data on a large scale, is a great opportunity for the creation of predictive models, healthcare advancements and improved accuracy in diagnosing patients. The best thing about it is that blockchain allows this data to be permanently stored on it, without significant risks of tampering and theft, while access can be managed by the data’s owner (the patient) and given only to those trusted and engaging with them, the analyst says.

A recent IDC Health Insights report, which forecasts that 1-in-5 healthcare organizations will adopt blockchain by 2020, backs up his projections.


Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

SHARE THIS ARTICLE
Related Articles

Contact Tracing Available on Identiv Platform

By: Ken Briodagh    6/2/2020

Identiv has made available Hirsch Velocity Software with Contact Tracing via free download for Hirsch customers in order to support worldwide office r…

Read More

IoT Time Podcast S.5 Ep.19 Great Lakes Water Authority

By: Ken Briodagh    5/29/2020

In this episode of IoT Time Podcast, Ken Briodagh sits down with Ali Abdallah, Engineer and Infrastructure Manager at the Great Lakes Water Authority,…

Read More

AT&T and Cradlepoint Team up on Wireless WAN and a 5G Future

By: Ken Briodagh    5/18/2020

AT&T Simplifies Pathway to 5G with Cradlepoint, New Offerings include FirstNet Wireless Edge Solutions and Wireless WAN

Read More

Smartrac And Suku To Authenticate COVID-19 Tests And PPE with NFC, Blockchain

By: Ken Briodagh    5/18/2020

Smartrac and blockchain startup SUKU have together launched a digital verification solution designed to authenticate COVID-19 testing kits and persona…

Read More

Wireless Cybersecurity Protection for Remote Office Workers Comes for IT and IoT

By: Ken Briodagh    5/15/2020

802 Secure announced it has released a new solution to help protect the remote office worker from the challenges of the evolving cyber threats of wire…

Read More