Blockchain technology has gained significant attention in recent years, with increasing interest in its wide range of potential applications, from financial services and data management to healthcare. The growing interest in this technology has principally been due to its ability and capacity to deliver information securely and protect the privacy of those involved.
This technology has the potential to help healthcare professionals provide a personalized and effective service and share sensitive information whilst maintaining the integrity of patient data. Here, we look at the challenges faced by the healthcare industry and how our blockchain technology can be used to overcome them.
Verifying Authenticity And Safety
In developing countries, fake or imitating medicines and drugs kill a staggering 1 million people every year, according to the World Health Organization (WHO). Our blockchain technology allows the receiving institutions, pharmacies and even the end user to verify the authenticity of each drug and medicine before it is consumed. Scanning a barcode on the package can provide information on its history and verify its authenticity.
In Africa, half of all patients do not properly follow their medical treatments due to the lack of information and lack of trust of treatments and doctors. To improve the care of patients and ensure they understand how to take medicines and follow treatments, our platform provides information about each treatment and medicine, and they can even receive specialist advice derived from our database.
It is also estimated by the WHO that over 70% of medicines sold in some African countries are sold informally or illegally as many assume that medicines and proper healthcare through professionals and institutions are prohibitively priced. However, the medicines sold informally are often more expensive than in pharmacies and institutions. In an effort to eradicate this problem, we at Crypto Med Innovation have designed our platform in such a way that an allowance of internet can be granted to patients to access relevant information and also other rewards and price deductions are offered to those who buy their medicines and receive treatment from legitimate sources.