As we mentioned earlier, digital identities could be stored and managed through blockchain technology — and this goes for health records as well.
Healthcare providers could also use blockchain technology to exchange data with each other securely. This would reduce redundancies and improve the speed of diagnosis while also protecting patient privacy at all times.
The possibilities don’t stop there — blockchain could even be used to monitor the supply chain, improve drug safety and fight counterfeit medications, lower health insurance premiums, and so much more.
Moreover, the global market size of blockchain technology in healthcare is expected to reach USD 231.0 million by 2022, with a growth rate of 63% over the next six years (2019-2028).