Does Blockchain Have A Place In Healthcare?
https://www.forbes.com/sites/reenitadas/2017/05/08/does-blockchain-have-a-place-in-healthcare/
Many attorneys play a vital role in the legal aspects of healthcare. Whether protecting the rights of patients, doctors or hospitals, lawyers who have a healthcare component to their practice should learn about the potential impact blockchain will have on medicine. This article discusses the role blockchain might play in medicine.
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“To put it even more simply, let’s flash back to the 1990s, when “internet” was the buzzword. People misunderstood the internet with a tunnel vision around its early use cases (e.g. internet = email, or internet = Web). Similarly, today’s confusion around blockchain technology is not because of its fundamental properties at the protocol layer, but rather because of hype around as-yet-unproven use cases at the application level, which are often mistaken for the integral part of core blockchain technology. For example, today many people commonly identify blockchain with Bitcoin, by far the most commonly known implementation of blockchain technology. But in fact Bitcoin is only the tip of the iceberg of several hundred applications using the blockchain system today.
Translating this analogy for the healthcare industry, the concept of blockchain technology and systems is undoubtedly disruptive, but it will not act as a magic bullet to solve emerging business problems in the fast-changing and highly interconnected digital health ecosystem. Rather, it will be an evolutionary journey for blockchain-based healthcare systems or applications, where trust and governance within a blockchain network or consortium will be the critical success factors for implementation.
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