Yesterday Baidu, known as China’s biggest search engine, launched its
blockchain medical solution. The aim is to promote the secure sharing and distribution of medical data.
Currently, data sharing in the medical field is prone to leakages and inefficiencies. If a doctor doesn’t have full access to medical histories, there’s a risk of making the wrong decision. Additionally, existing processes run the risk of violating privacy rights. And China shares the same issue with the US, where the administrative cost of processing insurance claims is high.
By leveraging blockchain technology, Baidu hopes to tackle the inefficiencies associated with the current system. Recent estimates indicate the cost of the Chinese health system will amount to 10 trillion renminbi ($1.4 trillion) in 2020.
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