The COVID-19 outbreak has changed the way people do things. Minimizing outdoor activities to restrict person-to-person contact has been enforced globally to curb the spread of the virus. This has led to a surge in online usage and the development of various online applications. The attention is now on blockchain technology as it offers features and capabilities that regular computer servers cannot, such as transparency, security and integrity of data, big data storage and management, data ownership and the option to monetize data.
Many businesses have discovered this, and it is fast becoming a global trend to move systems to blockchain and build innovative applications and platforms on it. One of the industries that needs the power of blockchain the most is healthcare, especially during this time of pandemic. Bitcoin SV (BSV), a digital currency that offers an infinitely scalable blockchain, is committed to helping the healthcare industry manage patient data. Healthcare on blockchain is gaining traction due to the urgent need for it.
In one of the most recent BSV Virtual Meetups, updates on various blockchain developments were given, and VXpass, a digital vaccine verification application for patients, providers and manufacturers to keep track of patient vaccinations in a certain area or country, was introduced. Aside from this, VXpass also allows for individuals to own their data.
“In historical practice, the reason there’s no US law about that in historical practice, it was the collector of data—your doctor, the pharmacy, your lab, your hospital—that collects the data, and then, they claim ownership of the data they collect about you. And [VXpass is] trying to help educate the world about how maybe with the advent of blockchain technology, we need to change that and allow patients to actually have ownership rights to their own data.” Bitcoin Association Founding President Jimmy Nguyen explained.
Data ownership is integral to the future as it will not only help people be in control of their personal data, but it will also allow them to monetize it. For instance, with the shift to electronic health records (EHR), medical history is collated by hospitals and institutions, but are not easily accessible to the patients themselves. So when they want to transfer hospitals or clinics, they do not have their medical records with them; they would have to request the hospitals they have used so far.
But if patients have rights to their own health data, then they have complete access and control to their medical history. They can even earn revenues whenever institutions need their data for research or reference. This is what healthcare on blockchain is all about. With VXpass, individuals who have already been injected with the first dose of the COVID-19 vaccine can still look for a different provider for the second dose. All they would have to do is to show them their data of the first dose on the application, which is very handy as it can be installed in cellphones. This also makes it a lot easier for various health institutions to monitor vaccinations as patient data can be sent with just a QR code from the mobile app.
“For us, while we are moving towards pilot in some of the smaller towns in the United States, the bigger goal is to on-board countries and essentially, eventually, to on-board pharma. So, the first version I built of this, the pharma companies would actually be the token authors, not VXPass. And as they create and manufacture these vials and doses, they’re creating and manufacturing tokens to follow the life cycle of those vials. You know, from the table, manufacturer to injection kind of thing…. But what we’ve seen is that we’re getting the most traction in countries that do not necessarily have a robust EHR system in place today,” VXpass founder Zachary Weiner explained.
Healthcare on blockchain is truly an amazing thing, and its need is especially highlighted today.