Blockchain Could Curb Medical Scandals
July 23 2018 - 1:22PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
July 23, 2018 -- ADVFN Crypto NewsWire -- The Chinese government
recently completed an investigation into a major vaccine
manufacturer. The report found that Changsheng Biotechnology
created false data regarding its rabies vaccine production. The
Chinese blockchain technology community has voiced the ability of
blockchain prevent issues like these. And further, the concept of
the immutable ledger can be applied to many other “right to know”
situations.
Supports have been using popular
Chinese social media platforms to push for blockchain adoption in
the pharmaceutical industry, so that every step of a vaccine's
production and distribution can be tracked on a public, digital
ledger. One of the best-known of the country's crypto investors, Li
Xiaolai, published an article on his own WeChat channel
arguing that vaccine production and distribution is a public
endeavor, even though the companies producing the product are
private.
Blockchain Builds
Accountability
The entire vaccine supply chain
should be open to all and a distributed ledger should be employed
to record several vital data points to maintain accountability and
fairness:
-
Who produces the vaccine
-
Who is in charge of quality
assurance
-
What medical facilities received
the vaccine
-
What price it was sold
for
-
Who has received shots of the
vaccine
"In fact, the token-less blockchain
technology has got pretty good prototypes so far. But given
people's misunderstanding of blockchain as something just for
speculation, ... it's hard to put those applications into usage
whether for government agencies or non-profit organizations.”
- Li Xiaolai
Tip Of
Iceberg
Another article on Chinese social
media totalling the improper business practices of Changsheng
Biotechnology, but within a day the piece was blocked on all social
media due to sensitive information it included. Authorities claimed
it was to prevent potential widespread public panic.
But here again, blockchain
technology has countered the event. The article was written into a
transaction on the ethereum public blockchain by anonymous coders,
creating a permanent version of the information. News of blockchain
working for social good will certainly help in adoption across all
industries.
By: BGN Editorial Staff
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