Back in 2018, I wrote an article about the cyberattack on the UnityPoint Health hospital network.
Hackers stole medical records from UnityPoint’s servers, potentially exposing treatments, lab results and insurance information for 1.4 million patients.
This was just one example of how the health care industry is becoming more vulnerable to cyberattacks, as you can see in the chart below:
(Sources: HIPPAJournal.com and the Department of Health and Human Services)
At the time, I explained that blockchain technology could hypothetically solve the crisis. That’s because blockchain is a decentralized network, which makes it virtually hack-proof.
Today, we may finally have a real, working solution. And it goes beyond just protecting our medical privacy.
In fact, this development could be a key part of our fight against COVID-19.
Your Health on the Blockchain
Earlier this week, a report revealed that the government of Singapore has worked with a local startup to develop a blockchain-based “Digital Health Passport.”
The health passport is a smartphone app that’s designed to track your daily health status. It manages and verifies important COVID-19 documents, such as test results and discharge records.
Similar to the blockchain voting proposal I covered last week, the app creates a unique QR code (like the one below) that can be scanned to quickly and securely check your health status:
Why is this a big deal?
Well, for one, it provides a reliable way to screen travelers and people attending events. You’d simply present your QR code and show that you have a negative test result.
This presents a practical solution to one of our biggest problems — stopping the spread of COVID-19.
And once we finally roll out a COVID-19 vaccine, the app can show whether you’ve been immunized or not.
Secondly, this blockchain app could be used for all medical history, such as allergies, prescriptions and past treatments.
This gives hospitals and doctors a quick and easy way to access important information while keeping it out of the wrong hands.
That means you won’t have to worry about hackers spreading your sensitive medical records around, or even using them to blackmail you.
Don’t Miss Ian King’s Special Tech Presentation
In a few days, Ian will reveal his brand-new webinar about innovative companies disrupting the market, just like the startup in Singapore I mentioned earlier.
In this free presentation, he’ll explain how some technologies have destroyed investors’ portfolios … while making others unbelievably rich.
Ian wants to make sure that you’re part of the second group. So, check your email inbox in a few days for more information on how you can set yourself up to prosper in the next decade.
Assistant Managing Editor, Banyan Hill Publishing