Apparently, the initial thought which comes to our mind with the term “blockchain” is the financial industry. However, from a broad perspective the key requirement for the success of any project or initiative whether in health care or any other industry is finance.

“Do we have money to drive the change or find a sustainable solution”?

At the same time, blockchain technology in common terms is a structure that structure that stores transactional records, also known as the block, of the public in several databases, known as the “chain,” in a network connected through peer-to-peer nodes. Typically, this storage is referred to as a ‘digital ledger.’  This technology has a wider application in health care as it can help to store patient records, IDs and facilitate their transfer.

Blockchain technology evolved in the financial sector and its security has been a priority.  Healthcare providers are looking forward to applying this technology in different healthcare domains such as health insurance automated claims, drug development, management of electronic health records, interoperability in the population health data, data security and supply chain management. 

Blockchain technology application in the distribution of COVID-19 vaccines was part of the argument to build patient trust in vaccine supply and encourage them to be vaccinated. Similarly, this technology holds a solution to prevent counterfeit medicines.

The forum aims to explore blockchain technology and its integration in the health care and life science industry to find potential solutions to complex problems related to medicine supply chain etc.