Blockchain describes a permanent and decentralized ledger of online transactions or exchanges. Unlike a traditional database that is centrally located and maintained by one party, a blockchain record is shared among a network of users.
“We still haven’t had a ‘killer’ application yet,” Conrad Barski, MD, founder and CEO of Forward Blockchain, said at a recent panel discussion hosted by the AMA. However, he noted the emergence of a “killer” blockchain app will likely “cause a domino effect.”
Here are five of the most promising and practical uses for blockchain in healthcare, according to the blog post:
1. “Smart” contracts
2. Supply chain processes
3. Physician credentialing
4. Peer-to-peer data exchange
5. Proof of work
To read the AMA’s blog post, click here.
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