The use of blockchain technology in the healthcare industry has the potential to revolutionize the way medical records are managed, medical research is conducted and patient care is delivered.

ARK analyst Ali Urman recently wrote: “The US spends more than $3 trillion - nearly 20% of GDP - annually on healthcare, in part because of inefficient and ineffective data management systems.

If we move medical records onto blockchain and tie them to an industry-wide patient identifier, it will allow individuals to finally exercise ownership over their own medical information.