Connect with us

Blockchain Technology

The future of healthcare with blockchain

Published

on

Blockchain in healthcare

Blockchain technology was designed to provide a shared distribution ledger that securely manages data, without requiring any central authority. In the healthcare industry, where data is becoming increasingly pivotal, blockchain offers a leverage to improve medical healthcare systems. This compels healthcare providers to find innovative ways to apply blockchain in healthcare.

A 2017 IBM Institute for Business Value blockchain study, Healthcare Rallies for Blockchain, reports that, of the 200 healthcare executives from 16 countries that participated in the survey, 16% expected to implement a commercial blockchain solution in 2017, while 56% expected to by 2020. The healthcare industry is already aligning itself with the blockchain-powered future of healthcare.

For the pharmaceutical industry, blockchain may be the next technological revolution that will transform the future of pharmaceuticals. In the field of pharmacy, blockchain will provide a means to ensure supply chain integrity and facilitate the use of safe drugs. Chekkit is a typical example in this case. Drugs hold the keys to both life and death, depending on which drug you use and how you use it. Blockchain’s ability to achieve drug traceability will facilitate the tracking of drugs along the supply chain and provide end consumers with information on the integrity of the drug. Given the enormous counterfeit pharmaceutical industry today, and the deaths and medical complications that arise from the use of counterfeit pharmaceuticals, the application of blockchain in this area will be invaluable. 

Apart from saving lives, the reduction of counterfeit drugs will drastically reduce the 200 billion dollars that is lost annually by pharmaceutical companies worldwide, due to the production of counterfeit drugs. The recovered funds can be invested into the development of better drugs to improve global healthcare.

This is an era of data, and every industry is seeking to harness the power of data. The healthcare industry is not an exception. An average person lacks easy and secure access to their own medical records, even with the advancements in Electronic Health Record(EHR) solutions. With just a smartphone, most people can access their financial data and other forms of data. Blockchain will improve the accessibility of medical data, in a secure manner, just like that of every other kind of data that is readily available to smartphone users today. With just a smartphone, anyone will be able to carry their medical record with them, anywhere they go. This will provide the chance for patient engagement in healthcare.

This will also allow the medical records of patients to be accessed easily and securely, by any healthcare provider who needs it. Since the data is stored on a blockchain, its security is assured and, hence, cannot be tampered or accessed by just anybody. With the application of blockchain in this area, patients will have access to all their medical history across all healthcare providers that have attended to them. This data can be shared securely when they visit a new healthcare provider, which will eliminate confusion and serious complications that can arise from the duplication of healthcare records across different healthcare facilities. It will also eradicate the time wasted on trying to obtain the health records of a patient from their previous healthcare provider(s). 

The privacy of all medical data will also be guaranteed with blockchain. 

Additionally, since blockchain will facilitate the development of a singular health record system that cuts across EHRs, different regions and all medical history from the lifetime of a patient, AI can be leveraged to extract meaningful insights from a patient’s lifetime medical records to provide personalized recommendations that will improve the medical outcomes for each patient. Also, patients who are willing to, can offer medical researchers the access to their medical records. Blockchain will make this secure sharing of data very achievable. Their data would be used anonymously in medical research. This can improve the development of groundbreaking medical research and innovation. 

Health insurance is another aspect of healthcare that stands to benefit greatly from blockchain. Fraud is estimated to cost the insurance industry about 80 billion dollars annually, according to the Coalition Against Insurance Fraud (CAIF). Blockchain-powered solutions can help minimize this. Through the use of smart contracts, health insurance providers can effectively determine if a claim is false or not. “Insurers face intensifying pressure to reduce administrative costs, an area where blockchain might make a big impact by modernizing fragmented legacy IT systems, improving efficiency, and bolstering competitiveness,” a Deloitte report says. Given the potential use cases of blockchain in health insurance, insurers have a lot to benefit. However, this gain is not limited to insurers alone, the entire healthcare industry will be given a huge boost with the integration of blockchain in healthcare services.

Comments

Decentralize Daily

From Crypto and Blockchain to AI, Fintech and Web 3.0 delivered twice in a week (Mondays and Fridays)

Kehinde is a driven human who is passionate about leveraging technology to transform the future of humanity and the way we all live. His interest lies in constantly getting valuable information and being part of a mission that seeks to create a transformative radical shift.

Continue Reading
Click to comment

Leave a comment:

Blockchain Technology

How blockchain can bridge the trust gap in governance

Published

on

Governments and authority figures have existed throughout history to serve many purposes amongst which trust is central. In matters of social and economic concern, some form of trust and/or distrust has enabled people in all cultures across all times to transact and interact, to exchange value and advance cultural agenda. This is so important that our very concept of money is built on trust or value induced by trust.

However, for most of history up till now, authorities have wielded central power and that has always been an avenue for corruption, a lack of transparency which leads to wastage of resources and spirals down to a lack of trust by a populace in the authority over them. Evidently, this is paradoxical, the governments are to be trusted by virtue of the authority given to them but it’s this centralization that ends up upending it down the line.

Evidently, many people in many countries do not trust governments to do things the way they say they’d do them. The question is, what can a hypothetical government do about massive distrust from citizenry?

Enter the blockchain. As with many things, technology often has something to offer. The blockchain which underlies cryptocurrencies like most famously, Bitcoin, has been imbued with a certain peculiar philosophy; one of democratization. Although this is more of a mantra within crypto circles, it’s not difficult to see why. First is the blockchain’s nature; distributed ledger built on cryptography with certain features which make it functionally immutable. It’s most famous and defining uses have been with crypto but it could be so much more. A record keeping system for example, one that would be immutable and most importantly, transparent, open to all to see.

So, in the administration of nation states, blockchain technology has the ability to fit into a lot of places. The main idea is to be able to carve out trust from distrust i.e. the apparent reality of being watched and having all records secure is an incentive for governments to act transparently. In some use cases, governments (as well as private businesses of course) could leverage smart contracts, a task built into a blockchain that’s executed when the conditions specified are met. These systems in governance would undoubtedly improve transparency, cut down on corruption as well as its accompanying wastes and overall be more efficient.

So, will we see a trend where governments would like to use blockchain technology? Overall, this is for now unlikely. World governments, it would seem, do not understand blockchains very well and hence are apprehensive about them even to the point of banning the cryptocurrencies built on them. At the end of the day, the use of blockchain at the governmental level of any nation depends on the nation’s own unique set of problems and issues. All in all, the next few years will be interesting no doubt in this regard.

Comments
Continue Reading

Africa Blockchain Institute

Africa Blockchain Institute Organized The First African Blockchain Summer Bootcamp For Teenagers In Ghana

Published

on

In the spirit of catching them young, the Africa Blockchain Institute organized the first-ever Blockchain Summer Bootcamp for teenagers (age range 13 to 19 years old). A successful Bootcamp, according to the participants’ testimonials and stakeholders, held at the OpenLabs, Ring Road, Accra Ghana, between Monday 2nd August, and Friday 6th August 2021. 

The teenagers applied from across Africa, and selected participants all converged at the OpenLabs, Ghana, for an intensive five days of learning, interacting, and implementing personal  Blockchain projects. The participants were divided into three significant tracks, thus; Blockchain Development, Blockchain for Creatives and Blockchain Entrepreneurship. 

Blockchain Summer Bootcamp for Teens by ABI
Blockchain Summer Bootcamp for Teens by Africa Blockchain Institute

Across these three tracks, the teenagers learnt introductory units to Blockchain Development for societal challenges, Blockchain evangelism, Non-Fungible Tokens, and how Cryptocurrency works. Another highlight of the program was the excursion to the Accra Digital Centre, where the Boot Campers were introduced to the tech ecosystem and feel of the Ghana Tech Lab and Accra Innovation Hub spaces. A visit was also made to the Museum of Science and Technology, and the teenagers got to understand the history of technology in Ghana. 

Worthy of mention was the panel session aimed at motivating the students to pursue a career in technology. While making his comments during the panel session, the founder of BankLess Africa, Mr. Muntala Mohammed Shaibu, urged the teenagers to stop seeing themselves as too young to experiment with new technologies. In her remarks, Ms. Elohor Thomas, CEO & Co-Founder of CodeLn, urged the teenagers to continue to explore their interest in technology and blockchain early.

Blockchain Summer Bootcamp for Teens by ABI
Panel Session, Blockchain Summer Bootcamp for Teens by ABI

The Bootcamp ended with personal project presentations from the Blockchain Development and the Blockchain for Creatives & Entrepreneurship tracks. Projects such as NFT blogposts, Blockchain product reviews and Blockchain for transport and logistics were presented. The best presentation won the OpenLabs scholarship for Robotics Course. Thanks to Dr Sujith Jayaprakash, the Director of OpenLabs, Ghana, for the offer of scholarship. In his closing remark, the Executive Director of the Africa Blockchain Institute, Mr. Kayode Babarinde, urged the teenagers to continue using the  skills and knowledge gained during Bootcamp to explore Blockchain-related solutions further. We also appreciate Mr. Ganzaro Omar, Chairman, AfroBlocks, for his supports, and fostering collaborations with the Ghanian Blockchain community.

The Africa Blockchain Institute will continue to hold future Blockchain Summer Bootcamp series in various African cities to drive Blockchain knowledge into innovators early enough. 

Oluwaseun David ADEPOJU

Head of Research,

Africa Blockchain Institute. 

Comments

Decentralize Daily

From Crypto and Blockchain to AI, Fintech and Web 3.0 delivered twice in a week (Mondays and Fridays)

Continue Reading

Blockchain Technology

Africa Blockchain Hackathon 2021 Edition Begins Registration 

Published

on

Africa Blockchain Hackathon
Image Credit: Africa Blockchain Institute (ABI)

The 2021 edition of the Africa Blockchain Hackathon, a brainchild of the Africa Blockchain Institute (ABI) is ready for take-off. The initiative was created to allow young professionals, tech enthusiasts, students and policymakers amongst others to gain exposure to the opportunity of Blockchain/DLT Digital Innovations through mentorship, career and business opportunities. The Hackathon Program is a product of the partnership with FreeTON Africa (Sub Governance). The Hackathon provides a controlled, structural and sustainable mentorship model as well as a community to nurture and empower developers with potential towards building DLT and blockchain solutions. Registration for the Hackathon is already underway and the deadline is fixated on August 25, 2021. 

The contest is done in collaboration with FREE TON, an Open Source (OS)  community project created by developers of the Telegram Open Network (TON). TON OS  has more features than the Ethereum Virtual Machine and is designed as a decentralized operating system capable of handling decentralized applications. TON OS also has a stack of components that can be used by developers to create powerful applications. By making these components Open Source, anyone or everyone can view and copy fragments of the code.

The contest is open to all Africa Blockchain enthusiasts, newbies, artists, developers, policymakers and students. There is a prize of over 62,000 TONs up for grabs for the winner. The contest is open to the 54 countries in Africa for participants to build Blockchain Applications on Free TON. The aim is to add value to the FreeTON Network and the continent will equally benefit from the applications.  

According to John Kanyiri, FreeTON Africa Representative and the FreeTON Africa Team, “… we once again look forward to identifying projects culminating from this hackathon as being not only a showcase of what Africa can offer the global blockchain space but also solutions to the continent’s challenges. The creativity, ambition and sophistication of our localized developers are quite evident in the Hackathons and this time around we hope to see the same. Discovery of new talent and exposure of the same from very remote locations of Africa was witnessed in the last Hackathon and we look forward to the same this time too.”

The Hackathon is open to covering aspects of the blockchain that academia needs to know giving ample information about how the blockchain works and the current and future applications needed to change the world from the blockchain Point of View. The contest is open to both newbies and experienced developers as some of the best technical experts in the blockchain community will be there to aid you. In other words, the event is open to all who seek blockchain knowledge. 

The contest will be carried out in three sections: country competition, regional competition, and continental competition. The country and regional competitions will be held virtually however, winners of the regional competitions will get an all-expense-paid trip to South Africa for the Finals. The winners will attend the Grand Finale which will be hosted in South Africa. Participants are allowed to work on topics or applications that are peculiar to the needs of the African continent. However, some applications may include: 

  • National voting platforms
  • Fintech infrastructure/Digital Wallets (to help those who do not have access to banking)
  • Land ownership and registry
  • High tech job creation
  • Human rights protections

There are lots of prizes to be won including an all-expense paid trip to South Africa for the winners of the regionals. Other prizes includes:

1st Prize: 25,000 TONs

2nd Prize: 15,000 TONs

3rd Prize: 5,000 TONs

4th – 20th Prize: 1,000 TONs

Participants will have to follow a simple process leading up to winning amazing prizes. The first step is to submit applications for the hackathon, meet all the requirements and pitch ideas. Next, participants have to receive Acceptance Confirmation Notification/Onboarding, form a team and then join the opening session. The last part of the process involves building the application and collaborating with team members. 

Notable Dates 

Applications open July 2021.

Application Deadline: August 25th, 2021.

Hackathon Dates:  September 6th – 24th 2021. 

Begin your application here:  https://bit.ly/africablockhack 

Comments

Decentralize Daily

From Crypto and Blockchain to AI, Fintech and Web 3.0 delivered twice in a week (Mondays and Fridays)

Continue Reading

TRENDING

%d bloggers like this: