This is an idea discussed by the pharmaceutical heavyweights Pfizer, Amgen and Sanofi.
These three companies - typical "black boxes" when it comes to their work - are now eyeing blockchain as a means of streamlining the process of developing and testing new drugs. The current research process is very difficult - studies often last six to seven years. Approximately 90 percent of medicines that enter clinical testing fail, making the average cost of a successful development of about $ 2.6 billion.
Ultimately, reducing the length and cost of clinical trials and improving their success rate depend on one thing: improved data management. The pharmaceutical industry faces the same problem as the US health care system: most databases are incompatible.
In fact, blockchain technology for interacting with patient data can be useful.
As a healthcare professional, I can see so many uses for the block-chain in the field of medicine. I expect big things to come down the pipeline.
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