56% of medical institutions worldwide will invest in blockchain technology by 2020

Blockchain technology is an Internet database technology, which is characterized by decentralization, transparency and transparency, so that everyone can participate in database records, so it is also called distributed ledger technology.

So how does the blockchain combine with machine learning and the Internet of Things to solve medical problems? The author translates the latest views of Frost & Sullivan, the Pistoia Alliance, and analysts to readers.

Frost & Sullivan, a global corporate growth consulting firm, is committed to helping customers accelerate their growth and achieve growth, innovation and leadership in the industry. For more than 50 years, Frost & Sullivan has provided reliable market investment, financing and strategic and management consulting services to Fortune 500 companies, emerging companies and investment institutions with a global perspective.

In the "Top Information and Communication Technology Analysis Report 2017" released by Frost & Sullivan, the company listed the top ten transformative ICTs today, namely artificial intelligence, blockchain, 5G, network security, mixed reality, and nature. Language interaction, small data, hyper-converged systems, everything services, robotic process automation, etc. According to the analysis of the report, the potential of blockchain technology is expanding in more industries, and the amount of financing is also increasing.

In the medical field, blockchain technology is colliding with and integrating with technologies such as the Internet of Things (IoT) and machine learning, and has become a new force in the industry's progress.

It is foreseeable that in the next five to ten years, medical institutions will adopt a series of comprehensive information management platforms based on the above technologies to improve the efficiency and quality of medical management.

Blockchain technology makes digital medical platform interoperability safer and more convenient

The combination of the above several big data analysis and access methods enables all members of the patient care team to access information, increase participation and interoperability more conveniently and securely, thereby accelerating data decentralization and increasing consumer access. Ways to personal health information.

Kamaljit Behera, an analyst at Transformational Health Industry, explains: “Blockchain-based systems will be able to collaborate like never before, strengthen innovation in medical research, and implement larger medical concepts such as precision medicine and population health management. ”

The blockchain utilizes a distributed ledger system that allows each community member to have the same record of all transactions between each other.

Approval of each entity holding a copy of the ledger must be obtained before any changes are made to the data set, which increases the security of the data and ensures that each access and edit is authorized.

As more sensitive data is switched more quickly between a larger number of devices, organizations, platforms, and machine learning applications, the blockchain can provide a simpler and more comprehensive strategy to ensure that between different platforms Mutual trust, data integrity, and better control over how they use information.

Behera continues: “The booming variety of connected medical devices and the need to prevent data breaches has made blockchain technology and its ubiquitous security infrastructure an emerging digital healthcare workflow and advanced medical interoperability. The basis of the blockchain. Through a unique distributed network, encryption technology is used to reduce network threats and create an additional layer of trust.

“Blockchain technology is not necessarily a panacea for the challenges of the healthcare industry, but it does have the potential to save the healthcare industry billions of dollars by optimizing current workflows and eliminating some of the high-cost intermediates.”

The life sciences and pharmaceutical industries first benefit

Behera pointed out that blockchain technology can help people track and manage transactions more comprehensively, and the life sciences and pharmaceutical industries may be one of the first areas to benefit from it.

The blockchain can improve drug supply chain management through a tamper-proof recording technique, faithfully documenting how each tablet, vial or plaster moves between stakeholders until it reaches the patient.

“If applied in the pharmaceutical industry, this technology is expected to ban the circulation of counterfeit and substandard drugs, saving the industry $200 billion.”

Behera's claim was supported by a recent report by the Pistoia Alliance. The Pistoia Alliance is a non-profit organization in the life sciences industry that helps biotech companies remove barriers to research and development. According to the results of its report, the Pistoia Alliance predicts that most life sciences industries will adopt blockchain-based data management tools in the next five years.

Participating in the online survey of the report is a manager of the pharmaceutical and life sciences industry, and 22% of them report that their company is already using or testing blockchain technology.

The figures from the Pistoia Union are also consistent with a survey conducted by IBM in early 2017. The IBM survey found that 16% of healthcare organizations worldwide, including payers and healthcare providers, have a clear plan to implement blockchain tools in the next 12 months.

In this survey, IBM also predicted that 56% of medical institutions worldwide will invest in blockchain technology by 2020.

Blockchain provides standardized, comprehensive, and highly integrated data sets

Blockchains can unify different data sets, breaking data “shafts” that make machine learning algorithms difficult to access, and provide machine learning with a standardized, comprehensive, and highly complete data set for performing advanced analysis.

If blockchain technology allows medical organizations to believe that the data they hold is versatile, accurate, and undoped, machine learning can be applied more effectively across the country and beyond to predictive analysis and clinical Decision support and medical research.

IBM said in the survey that only when the data is trusted and protected can the parties really start to cooperate.

Blockchains can replace intermediate links that were once used to protect this data. Even smaller medical organizations can compete against larger competitors by joining such an ecosystem. Private companies can also access and create new data sources through blockchain technology, such as health data collected from personal devices and information collected from home care workers.

To achieve these goals, the medical industry needs to quickly gather to define blockchain technology and its adoption standards. However, when medical digitization has just emerged and began to adopt electronic health records, stakeholders have not fully reached a consensus on the definition and standards of EHR.

Behera stressed: "The medical industry needs to build a blockchain alliance to promote mutual partnerships and set standards for the large-scale implementation of blockchain technology in medical cases in the future."

Machine learning, IoT data and artificial intelligence convergence trends

There are already a number of alliances that focus on bringing blockchains into the medical field, such as the Pistoia Alliance, which is dedicated to promoting innovation in the life sciences, and is one of the leading companies in promoting collaboration among medical organizations. .

Hyperledger is an open source project initiated by the Linux Foundation in 2015 to advance blockchain digital technology and transaction verification. Members include dozens of different interests including ABN AMRO, Accenture and Hashed Health. The goal is to enable members to work together to build an open platform to meet a variety of user stories from multiple industries and streamline business processes.

The development of such cross-industry collaboration is helping the blockchain transform from an encryption method to a mainstream strategy for information sharing, and it has attracted more and more members to become interested in the medical field.

Brian Behlendorf, executive director of Hyperledger, told the media earlier this year: "We hope that the blockchain will truly integrate into the structure of the Internet."

“We believe that building such alliances can help with this process. The blockchain allows us to change the existing way of data sharing, allowing us to achieve secure, private access to data in a decentralized and fair manner.”

Recently, SAP (a global enterprise application software and solution provider, founded in 1972, based in Waldorf, Germany) and Change Healthcare, a leading US medical IT company, officially joined the Hyperledger project. Other members include IBM, Caesars Medical Group, Intel, Japan NTT data, and other companies interested in the healthcare business.

Gem is a blockchain technology startup founded in California and a blockchain API provider that is highly regarded by Frost & Sullivan. In April last year, Gem officially announced the launch of the Gem Health project to promote the cooperation and development of emerging technologies in the medical field, and joined the Hyperledger.

Another European company, Guardtime, is also one of Behera's observations. The company was founded in Estonia in 2006 and is headquartered in Singapore and now has a representative office in China. In 2016, Guardtime partnered with the Estonian government to deploy the world's first blockchain-based medical records management system.

Other Frost & Sullivan observations include API vendors such as PokitDok, Patientory and iSolve.

Microsoft has also announced the opening of the Coco open source framework to enable users to build enterprise-class blockchain networks. Microsoft Azure CTO Mark Russinovich wrote in a blog post: "Healthcare companies are well-suited to use Coco's data confidentiality, scalability and security to enable new ways of interoperating health data between EHR and other software systems. ""

On August 17, Ali Health announced the joint medical and community blockchain project with Changzhou City, applying the cutting-edge blockchain technology to the underlying technical architecture system of Changzhou Medical Association, and has realized some local medical treatment. Safe and controllable data interconnection between organizations, using low-cost, high-security methods to solve the "information islands" and data security problems that have long plagued medical institutions.

Machine learning and IoT data are increasingly becoming the basic requirements for medical big data analytics, and blockchains provide innovative and effective ways to ensure the proper use and storage of all big data.

A secure and reliable distributed ledger system is a promising new technology for industries that are still struggling to ensure data integrity and quality, such as medical research, patient safety, and population health management.

If industry insiders predict the bright future of blockchain, then within a few years, blockchain, machine learning, the Internet of Things, and other big data analytics can be seamlessly integrated, interoperable, and A powerful tool of trust that brings a variety of viable advice to the healthcare industry and ensures high quality patient care.

Reference materials:

Https://healthitanalytics.com/news/by-2025-blockchain-iot-machine-learning-will-converge-in-healthcare

Https://healthitanalytics.com/features/explaining-the-basics-of-the-internet-of-things-for-healthcare

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