Harvard Business Review notes that blockchain technology is necessary for global healthcare development. The use of blockchain in medicine has been studied for many years by both technical researchers and medical scientists.
Due to the ongoing pandemic of the coronavirus, the supply of medicines has been noticeably affected. The most common problems in the supply chain are theft and falsification of medicines. WHO estimates that 10% of medical products are not up to standard.
HBR sees a solution to this critical issue in blockchain technology. The study said that similar supply problems are not uncommon. Paper records have long prevailed over the quality of logistics services. In this case, the researchers see that the blockchain could optimize the logistics process in the future. These problems can be eliminated by applying the capabilities of the blockchain, following the example of MediLedger. Data immutability and traceability are the key features of the technology to ensure trust and verifiability in the medical products supply chain.
Image courtesy of HBR