Blockchain technology could help cure diseases and improve medical treatment across the world, according to a top tech entrepreneur.
Analysis of the vast global archives of clinical and health system data can yield information that is vital to effective research.
It can also lead to enhanced clinical care through evidence-based practice and safety and quality monitoring.
But analysis must be conducted in such a way that standards of privacy and confidentiality are not compromised for health care consumers.
Shidan Gouran, CEO and president of investment firm Global Blockchain, says end-to-end encryption can solve significant concerns about consent and privacy.
He said: “It can make data query-able without exposing the private data. If you are able to go through healthcare data you can find commonalities and even cures for diseases.
“What we’re talking about is getting data and ensuring it’s not available to the public.
“For example, you can find out how many people of a certain age have these diseases and you can get that data without physically owning the data.
“It’s very powerful.”
Many countries – including the US, Australia, Canada, Turkey, the United Kingdom, New Zealand, and the Netherlands – have enacted laws that try to protect patient privacy from insurance companies, employers, and other third parties.
However, Shidan claims the health industry has been slow to adopt the technology and says it will be at least five years before “operational availability”.
“It will take many years before regulators get their head around it,” he added.
The technology could also be useful to law enforcement and espionage agencies hoping to share operational data without exposing victims, sources and informants, he adds.
Shidan Gouran is a serial entrepreneur who founded Nuovotel, one of the first and largest wholesale VoIP service providers of its time, Jazinga, developers of an award winning unified communications system and Home Jinni, developers of the first Android based Smart TV platform.
He is also an investor in and advisor to a number of financial technology and blockchain start-ups. He mined his first Bitcoin in early 2010 and has been involved with cryptocurrencies ever since.