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The main obstacle to the adoption of blockchain? Lack of trust, PwC finds

The supporters of Blockchain say that the decentralized nature of technology is one of its major strengths, but the lack of trust among users is putting an obstacle to its adoption in the health sector, according to a PwC report.

In recent years, industry and government stakeholders have supported efforts to use blockchain, a permanent ledger 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.

To assess the biggest obstacles to the adoption of blockchain in the health sector, PwC drew inspiration from its global blockchain survey, which interviewed 600 business executives worldwide from April through May on their attitude to technology. The survey included respondents from 74 healthcare companies, including suppliers, payers and pharmaceutical companies.

Here are the five challenges that health professionals' respondents cite more frequently as obstacles to blockchain adoption over the next three to five years:

1. Lack of trust among potential users: 47%

2. Regulatory uncertainty: 39 percent

3. Ability to bring the network together: 37 percent

4. Blockchain interoperability: 36 percent

5. Scale inability: 33 percent

To download the PwC report, click here.

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