Healthcare will be the part of most aggressive industries worldwide implementing/driving blockchain technology. The Blockchain is the future business model of supply chain and has the potential to be applied to the entire healthcare value chain by streamlining and transforming everything from medical records, to payments and processing, and predictive (Big Data) analytics while benefitting virtually all its stakeholders from patients and customers to providers, administrators, and institutions.
Earlier this year, KLSC had the pleasure of participating at the Youth, Technology and Finance conference in Algiers, presenting the results of their most recent report on the status of the STEM (Science, Technology, Engineering and Mathematics) sector in the MENA region, a key topic of the World Bank’s Arab World Competitiveness Report, both of which highlight the importance of the Blockchain as part of the Fourth Industrial Revolution.
In 2016, Dr. Razouki was invited to participate in the prestigious World Economic Forum Global Health and Healthcare Community meeting in Dubai as part of the Future Trends in Health Task Force which was Chaired by Dr. Melanie Walker, Advisor to the President of the World Bank, Dr. Jim Young Kim. Dr. Razouki was the only participant from Kuwait and had the honor of summarizing the key technological trends affecting the global healthcare industry in the final outcome report of the forum, one of which was the application of the Blockchain to healthcare, specifically with respect to the use of a distributed ledger as verification of HIPAA secured Electronic Medical Records (EMRs), using encrypted chains to spearhead genomic data-driven drug design and targeted precision medicine therapies, and the tokenization of preventative healthcare incentive schemes correlating the tracking the life-cycle of medical trials, genetic testing, prescription side effects as well as longer-term effects of chronic/noncommunicable diseases.
At the Blockchain in Healthcare Symposium, KLSC will be represented by Dr. Mussaad M. Al-Razouki, Chief Business Development Officer, who will be speaking on the Disrupting Convergence of Blockchain, AI & Healthcare at 10:30am, Thursday the 20th of August, 2018.