What is the Blockchain?

The blockchain was originally invented by the fabled Satoshi Nakamoto as public record for Bitcoin. But cryptocurrency is just one proven use of the blockchain. The blockchain, in its purest form, is a ledger of information that cannot be manipulated or corrupted. This is because the database is shared by all parties participating in the network, all of whom are responsible for recording and storing transactions on the network. Whilst removing the need for centralised third parties, blockchain creates a permanent record of information. The recording and storing of information that can’t be manipulated or corrupted has an increasingly important place in a world of disinformation and malicious practise. One such place in dire need of this is the medical industry.

What is it Good for?

A number of industries are beginning to realise the value of blockchain technologies. Companies understand the value of a decentralised means of distributing information that can’t be altered and twisted. Recently, the logistics giant UPS began taking steps towards developing their own blockchain-based technology to:

‘increase transparency and efficiency among shippers, carriers, brokers, consumers, vendors and other supply chain stakeholders’

The medical industry has been promoted as an industry which stands to gain from blockchain technology. The prospect of a more secure supply chain management and safer data sharing between patients and hospitals is exactly what the medical industry needs. But perhaps the biggest game-changer for the medical industry could be the way medical research — specifically clinical trials — are conducted. That’s right, clinical trials may soon be championing blockchain tech, but why?

The Medical Industry — What Issues Does it Face?

The growth of industry funded evidence based medicine has flooded the field of medical research with selective publications, manipulations of study design and bias hypotheses i.e. companies with an invested interest in their product are more likely to manipulate results to create a more profitable outcome. The implications of this can be huge.

Cancer drugs introduced in the past 10 years, which claim to offer major benefits to patients, have faced serious questioning. The Journal of the American Medical Association has published evidence to suggest 38 % of independent studies of the drugs reached unfavourable results, with just 5 %

of the studies funded by the pharmaceutical industry reaching the same conclusion. These disparities in data are a direct consequence of data being manipulated, omitted and isolated to reach the most profitable conclusion. As it stands, the medical industry relies on researchers to honestly record data and submit findings. During the research period, this data is vulnerable to deletion, omission or alterations before being submitted for official review or vetting. There are obviously ramifications to these dishonest practises, but there are very few preventative measures to stop it from happening in the first place. There is no transparency to ensure accountability and accuracy.

How can the Blockchain Help?

This is where blockchain technology comes in to play. Blockchain technology puts all data onto a public record that can’t be edited. Once data enters the blockchain, it becomes a permanent and immutable record that no single individual or organisation can control or manipulate. Inputting the raw data from clinical trials and other medical research would allow drug developers, independent researchers and regulatory bodies to constantly share, review and audit one another’s findings. This would limit the ability of medical research companies and pharmaceutical companies to influence the outcomes of clinical trials or other research, forcing a higher standard of research and reducing the negative impacts of undue influence. But the blockchain wouldn’t just prevent bogus research from being pushed out. The potential is much greater yet.

With thousands of clinical trials being conducted each day, there is an incredible amount of legacy data that needs a home. This data is invaluable to future research and ought to be readily available for comparison and extraction for different medical researchers. For example, two medical researchers may find complimentary correlations in their findings 25 years apart and in different countries. These sorts of conclusions are impossible to draw unless there is some system in place where data can amalgamate. Currently this data is split across multiple platforms which suffer from incompatibility. The cure for any number of diseases are certain to already exist, with evidence fragmented between different sets of data that are waiting to be compiled on the blockchain.

The Future of the Industry

Clearly there’s a need for improved data sharing in the medical industry. Current methodologies enable the submission of inaccurate, incomplete or manipulated data. They also fail to encourage cooperation in medical research. Blockchain technology provides an opportunity for improvement, where accurate and unfiltered data can be shared, monitored and peer reviewed for the benefit of furthering medical research rather than profit.