Blockchain technology can have a major impact in various industries. Outside the financial sector, a number of options are currently under consideration. The medical industry can also benefit from distributed ledgers. South Korean Start-Ups are pressing in the coming years to bring the health care system together with the blockchain.
South Korea promotes Bitcoin Code
Most people know that South Korea plays a major role in the world of Bitcoin Code and crypto currencies. The local crypto exchanges generate a lot of trading volume every day. It is not yet known how different startups intend to use the blockchain technology. Many different blockchain-based services in the medical sector are currently under development.
A distributed ledger is very useful for documentation purposes. It provides an unchangeable record of information that is not subject to a central point of error. That is why XBLOCK SYSTEMS is working on a Medical Proof Application Service. This solution will output the medical documents via a public-key infrastructure on a distributed ledger. The company is confident that this method will make the entire business model leaner and more efficient.
From reward programs and follow-up management solutions to open platforms for medical information, all optimization approaches are being pursued by South Korean start-ups. Competition in this area will ultimately benefit both consumers and the health sector itself. More importantly, a wide range of services is currently being created.
The medical industry needs an upgrade
Recent years have shown that the medical industry needs a technology upgrade. There are several central points that cannot be dealt with. These problems enable data loss, successful malware attacks and inefficiencies in your own service. Blockchain technology can solve many of these problems. A South Korean spokesman in an interview:
„THE MEDICAL AND HEALTH SECTOR HAS THE STRUCTURE IN WHICH THE PUBLIC HAS NO ACCESS TO INFORMATION. BLOCKCHAIN TECHNOLOGY, HOWEVER, MAKES IT EASIER AND SAFER FOR THE PUBLIC TO VERIFY INFORMATION. THE NEW ERA IS EXPECTED TO BEGIN IN WHICH INDIVIDUALS CAN MANAGE MEDICAL INFORMATION INSTEAD OF HOSPITALS OR MEDICAL ORGANIZATIONS.“
Blockchain is an innovative technology that opens up many new possibilities. At the same time, the technology must be scalable and transparent and offer a certain degree of privacy. Finding the right balance for the medical sector will be a challenge. Nevertheless, South Korean start-ups are confident that they can bring great benefits to this industry.