Blockchain has the potential to reinforce a broad range of pharmaceutical and healthcare industry functions, both within and outside of the drug supply chain.

The registration of pharmaceutical products on a Blockchain could facilitate tracking of those products from the manufacturing site all the way to the patient and could result in a reduced number of falsified medicines, thereby increasing consumer safety. However, difficulties may arise as to the identification of the liable party should falsified medicines be entered onto the register as Blockchain operates on a no-name basis.

Within the healthcare sector, such as within the ‘Pharmacy of Your Choice’ scheme, medical records and pharmaceutical stock could be more easily accessed and updated in real time across multiple healthcare providers through the creation of a national private Blockchain, which would have to be designed in a way that is compliant with data protection laws.

Medical records could be more easily accessed

Among others, regulators would need to determine whether the medical records inputted into a Blockchain are considered legally to be conclusive evidence of the records’ validity and existence; or whether those Blockchain-based records are merely indicative of the existence of such records as a matter of fact.

Moreover, vaccine registries and genetic profiles, for example, could also be more easily created and relied upon. This could result in better data sharing between healthcare providers, resulting in a higher probability of accurate diagnoses and, subsequently, more effective treatments.

This article forms part of a weekly series called ‘Unravelling Blockchain’, contributed by Camilleri Preziosi Advocates, which explores Blockchain’s unique features and expands upon the technology’s legal implications across various commercial and corporate sectors. For a more detailed commentary, please visit: http://www.camilleripreziosi.com/ .