Can Blockchain Help to Find the Cure for Cancer?

Of all the diseases that have plagued the human race in decades, cancer tops the list for being the most grievous one. The name itself makes shivers run down the spine, for what this dreadful disease results in. While the medical science and technology is evolving day by day, still there is no assured or potential cure to cancer.

Lot of funds are at work to research for a cure.You will find plenty of foundations, collecting fund for the ‘cause’. We donate to the research and remain clueless about use and results of the funds.

As per the recent release of Google, its Artificial Intelligence is able to make predictions when a person will die. These predictions are up to 95% accurate.

“When an AI program can predict the unseen, then why can’t it find a cure for the disease that causes over 9 million deaths every year?”

Artificial Intelligence is an algorithm that works on pools of data, to recognize patterns, to create an understanding and learn from them. To work on cancer and to find a potential cure, AI would require data from across hospitals’ cancer databases and run calculations. It may be the greatest attempt till date. Then why aren’t we doing it? Because of the Doctor-Patient Confidentiality Clause and acts like HIPAA, hospitals cannot release private information of their patients, creating a complete drought of data for AI programs.

How to connect AI to the pool of hospitals’ cancer databases then?

The answer to this challenge lies with Blockchain, a decentralized and distributed ledger technology. Similar to any other industry, Blockchain technology in healthcare is restructuring how this industry functions. Unlike the centralized data pools, the data can be shared on Blockchain while maintaining complete anonymity of the patients’ personal details. This will not infringe Doctor-Patient Confidentiality Clause or acts like HIPAA. AI can then access the data from across the hospitals, to recognize different patterns of how cancer is caused, how it functions and how it can be treated.

Furthermore, Pharmaceutical Industry will be aided with this combination of Blockchain and Artificial Intelligence, where having access to such patient data bases will enable AI to discover better treatments for various diseases, including cancer. In this manner, Blockchain and Pharmaceutical Industry, working in tandem with Healthcare and Artificial Intelligence will be highly beneficial in making incredible breakthroughs.

Ensuring Efficient Implementation of CSR Activities with a Blockchain Based Solution

In the words of Winston Churchill “Responsibility is the Price of Greatness”

Firms and businesses have a similar responsibility, as well as commitment towards the social and economic development of their stakeholders, community and the society at large. In fact, the practice of CSR or Corporate Social Responsibility as a business model has evolved from being a slogan that was considered trendy by some firms to the current era where it has become more of a business requirement rather than just an option.

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How is BlockChain Contributing to the Efficient Management of Pharma Supply Chain?

The Life Sciences or Pharmaceutical industry has been struggling to deal with the challenges related to drug counterfeiting and ineffective supply chain management. Apart from this, it is also combating the high cost of bringing new drugs to the market, along with new standards. As a result, preventing theft, counterfeiting and forgery, while minimizing cost and improving compliance has become the utmost priority for pharmaceutical and biotech companies. To remain competitive, businesses require adopting a game-changing technology that can resolve most, if not all the current issues associated with compliance and traceability.

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How Can Blockchain Put An End To Fraud In Financial Transaction?

Experts suggest if Blockchain technology was used to manage transactions and accounts, frauds like Vijay Mallya and Nirav Modi could have been prevented or detected at an early stage and the money recovered partially, if not entirely. In the recent years, many exponential financial frauds surfaced in public and private sectors banks. As reported by the Reserve Bank of India, answering an RTI, state-run banks have said as many as 8,670 “loan fraud” cases totalling Rs 61,260 crore over the last five financial years up to March 31, 2017.

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A Complete Guide To Directed Acyclic Graph (DAG)

Although Bitcoin got introduced in the market in the year 2011, it was 2015 when it reached the popularity and identification. It was the same year when the underlying technology- Blockchain caught the attention of the experts and the revolution of exploiting its potential started. Before this, Blockchain got recognised as just another data structure supporting an emerging trend, but in reality, it encapsulated great technology and promises of a tech-driven future.

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