Blockchain Has Reached The Doors of US Food And Drug Administration

Blockchain Has Reached The Doors of US Food And Drug Administration

The US Food And Drug Administration and IBM are partnering to find out more about blockchain technology for possible exchange of health date. This was

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The US Food And Drug Administration and IBM are partnering to find out more about blockchain technology for possible exchange of health date. This was spelt out by Mr. Watson Health of IBM. The US Federal Agency is looking at avenues through which health data can be shared from various medical devices and wearables, including trials and data available in mobile devices. The initial focus will be towards data related to oncology according the press statement by IBM. The initiative between the two should last around two years and the initial research findings are expected to come out during early 2019.

Benefits Of Blockchain

There is no doubt that the use of wearables is becoming extensive because it is helpful in gathering health data using mobile phone and other customer friendly devices. However, sharing this data to healthcare providers is a major problem because of lack of efficient mediums. There are also threats of cybersecurity breaches and this certainly is a matter of concern for healthcare providers and patients alike. Under such a situation IBM believes that blockchain could provide the right solution for sharing of data that is secure, encrypted and seamless. This is because of a distributed ledger that cannot be altered under any circumstances. It also will leave behind an audit trail thereby improving accountability and transparency when it comes to sharing of date. If IBM feels so, there has to be lot of credibility in it.

What Does the Press Release State

The press release states that the collaboration will look at ways by which efficient leverage of large volumes of data is possible. This would call for a safe and owner mediated data sharing arrangement. The blockchain frameworks will be researched to find out the suitability of application in areas where data is gathered and shared. This could include patient data, clinical trials emanating from wearables and so on. It will help in better health management of the population and could also lead to new discoveries in the biomedical field.

It Does Have The Potential

There is increased number of participants who are looking at blockchain technology according to Tim Hogben Chief Of Operations of ASX, the largest securities exchange operator in Australia is supportive of this move and calls upon the medical industry to support this innovative move forward. He also suggested an alternative blockchain solution for the industry which could include wearable healthcare products which could be organized properly over a blockchain.

In mid-2017 the US Department of Health and Human Services made an appeal to blockchain developers to come out with something suitable for the healthcare industry. It evoked good response and it led to 15 projects being handpicked by the Federal department after a month. As far as 2017 is concerned, there is a partnership between UAE and telecom tech and healthcare providers in that country. This might lead to recording of healthcare details of patients, efficient storage and sharable between hospitals on a blockchain.

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