Find the best broker for your trading or investing needs Even if bitcoin and the cryptocurrency trend turns out to be a massive bubble, the technology that supports the new sector may be here to stay. Blockchain technology has already seen many broad applications in areas separate from cryptocurrency, according to a report by CoinSpeaker.

(See also: 6 Ways Cryptocurrencies Make the World a Better Place.) Now, one of the oldest and most staid sectors in the financial world – healthcare – may see fundamental changes as a result of the technology. As an industry, healthcare may be primed for disruption by a technology like blockchain.

The industry is, by nature, closely linked with some of the facets that distributed ledgers and smart contracts were designed to enhance. These include security restrictions, shareable data, networking, and consistent, reliable service.

While traditional models of infrastructure have worked to bring the healthcare industry to where it is today, many analysts see these systems as expensive, outdated, and susceptible to failure. Old technology systems that are put to the test by increasing amounts of data and stringent industry standards have not served to improve patient care, the argument goes.

Consulting firm Deloitte believes that “blockchain technology has the potential to transform healthcare, placing the patient at the center of the healthcare ecosystem and increasing the security, privacy, and interoperability of health data.” ICOs, the initial coin offering launches which have become the trendy new way to launch blockchain-based startups, are increasingly focused on health care products and services. Read more from investopedia.com…

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