A podcast report by Coin Survey, 8 December 2018.Research partner Krypta Analytica
Getting the patient on board for a clinical trial is a half battle won.
At present, creating a collaborative environment and building trust between the parties is dull and vague.
Scattered data point of collections, spread across multiple avenues, magnifies data disparities and transparency, nullifying trust in this ecosystem.
Healthcare experts are confident that the Blockchain technology would allow trial and patient information to synchronize. A single point of truth.
Blockchain promised to rationalize the process of getting consent from each patient.
In a decentralized network where every activity will be approved and time-stamped, various issues like unapproved forms, invalid consent forms/failure to gain consent for a protocol, may be addressed with a collaborative environment.
By adding a blockchain layer to the existing clinical ecosystem, patients’ information sharing, and monitoring, while approvals at all times are insured.
Smart Contracts, computer protocols that enforce compliance and protocol completely bring transparency and trust as it is truly patient-driven herein, which need approval from each user/patient or node in order to maintain the chain, bring trust and efficiency.
Thus a collaborative environment that needs participation, transparency and communication like the Clinical trials ecosystem, Blockchain technology inclusion is a booster shot.
Clinical research is a big deal with almost a $100 million price tag per trial. Blockchain’s Technology inclusion is all pluses.
Maybe even the showstopper of Blockchain’s all uses cases.