April 25, 2017
As technology gets smarter, our lives are made a little easier. With IoT devices becoming commonplace in our homes and helping to automate our lives, the next big technology to help us may be blockchain.
Blockchain allows for digital information to be distributed but not copied. The information is shared and continually reconciled; there is no centralized place the information is stored and the information is easily accessible by anyone on the internet.
There could be numerous potential uses for blockchain in the pharmaceutical and medical device industries. Blockchains contain facts which can be turned into something called SmartContracts. SmartContracts can read the facts and execute actions based on what it reads. One example of this is keeping a vaccine at a controlled, safe temperature throughout shipping, storage and dispensing. Using IoT to track and log temperatures, the data can be sent to a blockchain that can use SmartContracts to determine if the product’s temperature has been compromised. This can help to keep medicine safe.
Blockchain can also be used to track patient vitals to determine a diagnosis. Blockchain would be utilized to read the vitals through an IoT device, which can then be put into a machine learning algorithm.
While all of these innovations sound complex, they could be the key to a more accurate and safe future in the world of medicine and pharmaceuticals.
For More Information
The Voyage of Discovery: Blockchain for Pharmaceuticals and Medical Devices
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