The first great frontier for blockchain technology was the financial technology industry. There, it has had varying successes ranging from major advantages like the bitcoin loophole system to great issues like the volatility of cryptocurrency prices. However, there is a new frontier where this technology seems to be making waves: the health care industry. There, it has inspired a range of potential applications. Some are achievable easily in a few years while others sound like the stuff of science fiction.

There is a lot of excitement in the global community about the potential of the health care industry. From governments to health care organizations, all of them are looking forward to achieving some of the many possibilities promised by blockchain technology.

The industry, however, needs to direct its focus on joining forces in the form of consortia dedicated to blockchain technology to foster partnerships in the ecosystem and create helpful frameworks and quality standards that will be implemented across health care systems on a massive scale. Continue reading →