Beyond the Data: Is Blockchain the Answer to Improving Global Health?
The pharma industry has long been riddled with data accuracy, privacy and transparency issues
affecting clinical trials, supply chain and counterfeit drugs. The industry has been exploring
technological solutions to address these issues. The COVID-19 pandemic has highlighted the
urgency for adoption of digital platforms by both the healthcare and life sciences industries to
overcome the challenges and address vulnerabilities. Patients have also demonstrated an increased
inclination to adopt digital technology in order to achieve better treatment outcomes.
Including technology within each company’s DNA by using big data, AI, machine learning and other
technologies available is the key to progress. In order to improve medical research and achieve
patient-centricity, the industry needs to exploit emerging technologies. This will facilitate the
creation of user and customer centric interfaces and data driven decisions for new ways of data
collection and better outcomes. For example, the use of data and AI supports the identification and
targeting of specific patients for drug discovery and development, important for personalized drug
development and reducing timelines. The management of clinical trial data using computational drug
design methods and AI is used for repurposing existing drugs, analysis of efficacy of combination of
drugs and measurement of dosages
As a result of this rapidly changing environment, we must consider the best methods to manage this
data and drive the change while maintaining the necessary privacy, compliances and data security.
This raises an important question: “Is it time to reconsider other technologies such as blockchain as
the technology to facilitate the change and improve global health?”
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