Gem has announced Gem Health, a network for developing applications and shared infrastructure for healthcare. With the aim of updating and expanding the working of medical infrastructure Gem is utilizing the connectivity, privacy and security options offered by blockchain technology in an effort to save billions of dollars from an inefficient system. Gem hopes this will lead to a globally integrated healthcare continuum, designed to make healthcare smart, secure and personal.
Healthcare represents a significant portion of the global economy with a massive ecosystem of service providers, insurers, regulators, patients and technologies is expensive to maintain, and as the need for connected services increases, the risk exposure for every participant will also rise. Using blockchain technology allows participants to move data in real-time, without the need for reconciliation, because each participant is connecting to the same network, working on shared information, and collaborating peer-to-peer – all without exposure to theft, forgery or malicious actors, leading to a platform that everyone can trust.
Disconnected parties – within an organization or across an entire industry – will have the option to securely converge on the same information, allowing for the development of new types of applications that will tap into wasted resources and allow novel ways of solving problems to be explored.
Gem believes that blockchain networks can be used as a scalable solution for shared infrastructure that keeps critical patient data in the right hands, possibly even providing individuals with interconnected services and a more personalized health plan. Ideally, in the future, every patient would hold the keys to their own healthcare passport, bridging patient care among multiple providers across borders. Savings from renovating outmoded systems could then be put to better use hiring staff or equipment.