Transforming Healthcare system with Blockchain

Blockchain technology has been used in many industries providing security and preventing fraud so it can be beneficial in the medical industry too. One of the most essential blockchain features that can be implemented in the healthcare sector is that by recording every change across the peer-to-peer network, every transaction is validated. Since clinical trials require fast, reliable and transparent ways to locate patient’s data, blockchain could be the possible solution. Effective supply chain management is a challenge in every sector but in healthcare, it comes with added complexity and risk as it is related with the patient’s health and safety. Effective management of the healthcare supply chain (HCSC) process is critical for healthcare providers not only during pandemics such as COVID-19 but also in their normal operations. Despite many advances in new technologies and treatment options, the providers still suffer from poor procurement, ordering, forecasting, and distribution practices. Hence, blockchain can be the potential solution for the security, integrity and functionality of health supply chain.