Opportunities for use of blockchain technology in medicine

Scientific paper - Original scientific paper

• Author: Igor Radanović
• Author: Robert Likić
• Author's institution: University of Zagreb; School of Medicine
• Scientific / art field, discipline and subdiscipline: BIOMEDICINE AND HEALTHCARE; Basic Medical Sciences

Abstract (english)

Blockchain technology is a decentralized database that stores a registry of assets and transactions across a peer-to-peer computer network, which is secured through cryptography, and over time, its history gets locked in blocks of data that are cryptographically linked together and secured. So far, there have been use cases of this technology for cryptocurrencies, digital contracts, financial and public records, and property ownership. It is expected that future uses will expand into medicine, science, education, intellectual property, and supply chain management. Likely applications in the field of medicine could include electronic health records, health insurance, biomedical research, drug supply and procurement processes, and medical education. Utilization of blockchain is not without its weaknesses and currently, this technology is extremely immature and lacks public or even expert knowledge, making it hard to have a clear strategic vision of its true future potential. Presently, there are issues with scalability, security of smart contracts, and user adoption. Nevertheless, with capital investments into blockchain technology projected to reach US$400 million in 2019, health professionals and decision makers should be aware of the transformative potential that blockchain technology offers for healthcare organizations and medical practice.

• Keywords (english): Biomedical Research; Databases as Topic / organization & administration; Delivery of Health Care / methods; Delivery of Health Care / organization & administration; Education, Medical; Electronic Health Records / organization & administration; Humans; Information Technology; Insurance, Health; Pharmaceutical Preparations / supply & distribution; Public Health
• Language: english
• Publication type: Scientific paper - Original scientific paper
• Publication status: Published
• Peer review: Peer review
• Publication version: Accepted version
• Journal title: Applied Health Economics and Health Policy
• Numbering: vol. 16, no. 5, pp. 583-590
• p-ISSN: 1175-5652
• DOI: https://doi.org/10.1007/s40258-018-0412-8
• URN:NBN: urn:nbn:hr:105:829662
• Publication: 2018-10
• Document URL: https://doi.org/10.1007/s40258-018-0412-8
• Type of resource: Text
• Access conditions: Open access
• Created on: 2024-03-28 10:38:55