Healthcare companies like Johnson & Johnson (NYSE:JNJ), Nebula Genomics, and Longenisis think that the use of blockchain technology can be a big asset to consumers and also bring a revolutionary change in overall healthcare operations. The American multinational company known for its baby products has said blockchain technology can empower consumers by providing them better control over their personal data related to healthcare and other categories.
The topic was recently discussed at the 2018 Blockchain Brand Innovation Summit held by the Chief Digital Officer Global Forum. The head of the New York and Boston office of JLABS, Kate Merton, said that correct deployment of blockchain systems can increase the control of consumers over their healthcare data. It will make the healthcare journey of consumers much more efficient as they will have knowledge as well as decision-making capabilities.
“I think when blockchain comes in and people have access to [say], ‘Okay this is me and this is how I compare with other people,’ they are able to do those better comparisons,” Merton said.
Merton Sees Long-Term Advantage In Blockchain System
Merton believes that deployment of blockchain system in healthcare operations can benefit both the healthcare industry as well as the consumers in the long term. According to her, the long-term advantages will go well beyond the physical conditions of a patient and the healthcare industry can expect broader inputs and solutions through its integration.
Merton thinks that use of blockchain-based technology ensures that the consumers have the right information and education to take health-related decisions without having to depend upon their care provider to tell them how to manage their health. And to manage that, companies like J&J will have to fuse vast “buckets” of data that will cover diverse topics defining the personality of a patient and his conditions while developing blockchain systems.
Two Leading Firms To Develop Genomic Data Exchange Platform
According to a recent announcement, the two leading firms, Nebula Genomics and Longenisis are engaged in building a platform that will enable storage and exchange of genomic data. These two firms are known for providing solutions in the healthcare field by combining the basic technology of artificial intelligence and blockchain technology. The firms are also aiming to introduce “life data economics” – a new research field based on blockchain solutions.