How Blockchain Can Provide Free Healthcare to All
The key to solving the healthcare crisis is for all of us to work together. Here’s a simple but powerful idea: what if we could use blockchain technology to put everyone in control of their own health data? We believe that this is the best way to improve health outcomes and reduce costs, and this white paper explains why.
We’re building a global platform that will make it easy for anyone to access, share and understand their personal health data. We’re creating a worldwide network where people can take control of their own health by securely storing, accessing and sharing information with healthcare providers whom they trust — while maintaining absolute ownership and control over their own data at all times.
Free healthcare is a human right.
The Human Genome Project has unlocked the secrets of what makes us human. We now have a complete understanding of the human body and how it works. We are able to cure disease, reverse aging and even grow new organs using stem cells.
Humanity has the technology to provide free healthcare for all, but the pharmaceutical industry prevents it from being implemented.
We must implement a solution that disintermediates the pharmaceutical industry by decentralising healthcare using blockchain technology.
A blockchain is an indestructible database that can never be deleted or tampered with. It is a system for creating permanent records of transactions that are cryptographically secured, transparent and verifiable by anyone. Once recorded into the blockchain, data cannot be changed or deleted – only appended to.
Blockchain technology can be used to record medical records, patient histories, genetic information, prescription data and more on an immutable ledger that is accessible by everyone on earth. A blockchain allows us to cut out the middlemen in healthcare (doctors & hospitals) and get free access to our own health data.
The idea of universal access to healthcare is nothing new, but the history of healthcare is littered with efforts to make quality medical care available to all that have failed. Given the complexity of healthcare, it is no wonder that most efforts have failed. However, the emergence of blockchain technology has opened a new path towards quality healthcare for everyone.
The use of blockchain technology in healthcare is driven by the desire to improve efficiency, data security, and information access. Blockchain can transform how patients manage personal health data, how researchers access and analyze data, and how providers are reimbursed for delivering care. Blockchain will also enable new business models that were previously not feasible because of disintermediation or other factors.
This paper explores the use of blockchain in healthcare and provides examples of current projects and applications. We examine some of the challenges facing widespread adoption and conclude with recommendations for policy makers and business leaders.
The world has become obsessed with blockchain. The media, the public, and especially the regulators are all trying to understand this new technology and its implications for our lives. It is a complicated issue, but it is important that we don’t let our governments pass legislation without understanding both the positives and negatives of this technology.
We’ve seen this happen before, when governments ban something without fully understanding it. We know that this strategy is ineffective, as we can all easily see from the war on drugs. There are countless other examples, but drugs provide a clear example of something that is technically illegal, but still easily accessible to anyone who wants it.
For those of us working in healthcare, we have an even better example: vaccines. In 1796 Edward Jenner developed the first vaccine to protect against smallpox. Since then vaccines have saved hundreds of millions of lives around the globe. Yet many people still oppose them because they believe that they are unsafe, despite overwhelming scientific evidence to the contrary.
There are a number of reasons why people may oppose vaccines; some just don’t like needles, while others are concerned about side effects or long-term health impacts. One reason that has gained popularity recently is the belief that vaccines cause autism. This theory was spread by
The blockchain is a decentralized, distributed ledger technology that records transactions across many computers in such a way that the registered transactions cannot be altered retroactively. This allows for the existence of a shared, immutable record of truth. The blockchain has numerous benefits, including cross-industry applications and the enablement of business model innovation.
Background: Healthcare data is siloed, not interoperable, and lacks accessibility.
In the United States alone, there are approximately 1,500 healthcare companies providing electronic health record services to providers. Each company has its own unique platform and its own unique portal for storing patient files and medical records. This means that patients’ medical data are stored in multiple locations on incompatible platforms that cannot communicate with one another. Compounding this problem of accessibility is the fact that providers lack a mechanism to share their patients’ information securely with other providers or with their patients themselves. As a result, patients’ personal health information is spread across numerous platforms and databases that are both inaccessible and incompatible with one another1 . Furthermore, your life does not fit neatly into diagnostic categories; yet this is how our current systems have been designed. You may have symptoms from several different disease groups which must be handled by multiple healthcare professionals who need access to your information from each of
The decentralized nature of the blockchain will provide new ways to fund and pay for healthcare. It will also allow us to distribute more resources to those who need it most.
Blockchain technology can give individuals control over their medical records, reducing the administrative burden on healthcare organizations. This could potentially reduce costs by billions of dollars. Blockchain can also be used to incentivize healthy behavior, such as exercising or eating healthy.
Blockchain enables the exchange of value in a transparent and secure way without intermediaries. This can be used to drive down transaction costs in the healthcare industry and increase efficiency. The use of smart contracts allows for self-executing transactions based on pre-set conditions that are agreed upon by all parties involved.
The blockchain is a distributed ledger that holds records of all transactions made on it in chronological order. The blockchain is designed so that existing records cannot be altered retroactively without changing all subsequent blocks and alerting users of the network.
This means that a patient’s medical history cannot be changed once it’s been written into the ledger. Patients’ data will be encrypted and stored on an individual basis, allowing them to authorize access to their data via a digital key or biometric identification system such as fingerprint scanning.
A major benefit of blockchain technology is that it
Blockchain technology is still in its infancy. While the potential applications of blockchain technology are far-reaching, healthcare is one of the most promising industries that can benefit from this technology.
Blockchain has the potential to transform health care, placing the patient at the center of the health care ecosystem and increasing the security, privacy, and interoperability of health data. Blockchain can provide a new model for health information exchanges (HIE) by making electronic medical records more efficient, disintermediated, and secure. Blockchain could provide the backbone for a new system for health information exchanges (HIE).
Doctors and hospitals are required to use proprietary software that is often expensive and difficult to integrate with other systems. This leads to fragmentation across providers and prevents them from sharing data easily. Blockchain could potentially act as a single source of truth for patient data, creating a shared record across providers. This will not only reduce costs but also make it easier for patients to access their own information.
Patients would be able to control access to their own data and grant doctors permission to review their medical history on an as-needed basis. As a result, data breaches could become less frequent, while simultaneously reducing costs because healthcare organizations wouldn’t need to invest in cybersecurity infrastructure.
Such an approach would create