Bitcoin has the potential to revolutionize the medical field by offering new and innovative ways of handling medical transactions, secure storage of medical records, and reducing costs.
Here are 8 ways that bitcoin could impact the medical field:
- Medical transactions: Bitcoin can provide a secure, fast, and efficient way to handle medical payments. This could reduce the costs and time involved in processing medical payments and improve the overall efficiency of the medical system.
- Secure storage of medical records: Bitcoin can provide a secure and decentralized way to store medical records. This would allow patients to have control over their own medical data, while still ensuring that it is secure and accessible only to authorized parties. These are exciting layers that are only possible to be built on a solid foundation such as Bitcoin.
- Reduced costs: The use of bitcoin in the medical field can help to reduce costs, as it eliminates the need for intermediaries and reduces the fees associated with traditional payment methods.
- Improved access to care: By reducing the costs of medical transactions and making it easier for patients to pay for care, the use of bitcoin in the medical field has the potential to improve access to care for individuals in under served communities.
- Enabling Remote Patient Monitoring: Bitcoin Layer 2 and Layer 3 could be used to create secure and decentralized remote patient monitoring of pathology such as blood pressure and glucose monitoring instead of using files, mail, or being physically present.
- Reduction of bureaucracy: On a Bitcoin standard much of today’s welfare state will be made more efficient and returned back to the people and to the market. Instead of corrupt laws and regulations that give too much power to large corporations, the most efficient therapies and drugs would be cheaper and of better quality due to the reduction of central planning, corruption and bureaucracy.
While the potential benefits of using Bitcoin in healthcare is significant, there are also challenges that must be overcome, such as privacy and regulatory concerns. Nevertheless, the potential for these technologies to revolutionize healthcare is significant and worth exploring further. There is still much to be done to fully integrate bitcoin into the medical field, the potential benefits are clear.
With the right infrastructure and regulations in place, the medical field could be greatly impacted by the use of bitcoin. Bitcoin has the potential to revolutionize the medical field by providing secure, fast, and efficient medical transactions, and reduced costs. However, it will require significant investment and collaboration between the medical field, Bitcoin technology companies, and governments to fully realize this potential.
References:
Breedlove, Robert “What is Money Show”
Ammous, Saifedean “The Bitcoin Standard”, “The Fiat Standard”
Bitcoin Images: @hackzero twitter.com
