Decentralized Finance (DeFi) and Blockchain Technology in Healthcare

Abstract

The chapter examines how block chain technology can revolutionize pharmaceutical supply chain management. Through real-time tracking and traceability, the authenticity of medications can be ensured, thereby combating the persistent issue of counterfeit drugs and enhancing patient safety. Additionally, the clinical trial process stands to benefit from block chain and transparent and secure nature. Smart contracts can streamline patient recruitment, informed consent, and trial result reporting, promoting trust and accountability in the clinical trial ecosystem. Despite the potential benefits, the adoption of DeFi and block chain in healthcare presents several challenges, including regulatory compliance, scalability, and integration with existing healthcare systems. This chapter discusses the current state of block chain integration in healthcare and identifies future research directions to overcome these hurdles.