Blockchain technology has the potential to transform healthcare, placing the patient at the centre of the healthcare ecosystem and increasing the security, privacy and interoperability of health data.

Blockchain, or chain of blocks, is essentially an immutable record of digital events that is "distributed," or shared among many different parts. The best known application of Blockchain is cryptocurrencies, digital assets used to exchange value between people or institutions.

There are numerous examples of the use of Blockchain technology in addition to cryptocurrencies. For example, Walmart and Maersk are already using Blockchain to manage supply chain and locate their containers, respectively.

In healthcare, the first uses of Blockchain are beginning to appear in relation to the management of patients' medical information, payment systems and real-time monitoring of health information. The potential is very high and we expect to see numerous applications in the market very soon.