20% of health organizations use the blockchain by 2020: 4 in-depth reports

Healthcare organizations may soon follow in the footsteps of financial services and shipping industries in the implementation of large-scale blockchain projects, according to a recent IDC Health Insights report cited by ComputerWorld .

Here are four insights into why health care can be ready for the blockchain:

1. In recent years, industry and government stakeholders have supported efforts to use blockchain, a permanent and shared register of online transactions or exchanges, to simplify health operations. Unlike a traditional database centrally located and managed by a party, a blockchain record is shared between a network of users.

2. However, the adoption of the blockchain has been slower in moving from a test case to a production system in the healthcare sector than in other sectors, partly due to more stringent industry regulations. Health stakeholders may also be reluctant to use new types of technologies, given safety issues and problems with standardization of data.

3. IDC Health Insights suggested that one of the five health organizations will adopt blockchain solutions by 2020, moving beyond pilot projects to actively utilize technology for operations management and patient identity services.

4. Health organizations will probably start with the implementation of blockchain solutions that improve interoperability. Blockchain registries would allow various organizations – including suppliers, payers, pharmacies and clinical researchers – to exchange data in a standardized format that could support emerging solutions for the exchange of health information.

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