Dr. Leen Kawas is a respected biotech leader with experience as the Managing General Partner at Propel Bio Partners. Having worked for Athira Pharma prior to Propel, Dr. Kawas has played prominent roles in helping to bring drugs to trial. Now industry and thought leader in the space, Dr. Leen Kawas took time out of her day to explore the importance of blockchain technology in the healthcare sphere.
Introducing the Blockchain
Blockchain technology has only risen in prominence over the past decade. As more and more industries pivot toward the benefits Blockchain tech can provide, expect its adoption to spread further into the healthcare field. According to a report filed by Grand View Research, the Blockchain technology sector was valued at more than $10 billion in 2022 alone, with major expansions on the horizon.
Leen Kawas is well-versed in the impact that venture capital can have on the life science and biotech sphere, and she believes that the healthcare industry is the next space to face disruption and adoption.
How Does Blockchain Benefit Business?
Digital technology adoption will become increasingly normalized as more and more businesses are shown the benefits that blockchain can provide. Blockchain technology helps businesses by providing them with records of ledgers, transactions, and the entirety of their system. When any updates are made to the ledger, every copy is updated along the way while leaving an audit trail behind it to banish potential fraud.
Blockchain technology is secure and capable of providing clients with the comfort and peace of mind they need in today’s digitally driven society.
Blockchain and Healthcare
Dr. Leen Kawas believes that blockchain technology will have a significant impact on the healthcare industry as more and more sectors begin to adopt it. Mordor Intelligence published a report forecasting the adoption of blockchain technology from 2023 to 2028, and it revealed room for massive growth.
Dr. Kawas suggests that Blockchain adoption will lead to several areas of improvement within the healthcare sector, including.
- Secured Medical Records – U.S. hospitals and practices will treat a full spectrum of conditions for their patients, often requiring prompt diagnosis and treatment to create positive outcomes. Blockchain medical records are easy to access, secure, and quick to update without allowing for extraneous delay.
- Secured Applications – Pivot away from large-scale data breaches by securing the information on the Blockchain. Dr. Leen Kawas believes that Blockchain data provides the most optimum solution for straying away from data breaches.
- Shipping Integrity – Finally, Kawas suggests Blockchain technology can help improve shipping transparency by leaving a paper trail from distributor to end consumer.