Blockchain, you’ve come a long way, baby. Only a short time ago, the distributed database technology — which gained fame for its bitcoin-related applications — was relatively unknown in healthcare. But a new Deloitte survey says health and life sciences plan the most aggressive blockchain rollouts of any industries in 2017, with 35% planning to deploy it.
Eager executives across all industries cite numerous advantages for investing in the technology, including:
- Security features (37%)
- Improving systems operations by lowering costs or improving speed (36%)
- The ability to enable new business models and revenue streams (24%)
- Staying competitive (55%)
However, understanding of the technology remains uneven. For example, while about one-quarter of the executives rank blockchain as a top-five priority, a third consider it overhyped and 39% say they have little or no knowledge of the technology. And there’s no denying that regulatory challenges and the lack of technical standards may hinder adoption.
Learn more about why the ONC hopes to spur innovative uses of blockchain technology, bringing value to healthcare organizations in areas ranging from interoperability to security to data storage.