Introducing scientific rigor in medical research using blockchain technology

Blockchain technology applied to medical research can enhance the credibility of science by creating an immutable timestamp of research results. Blockchain technology, invented by Satoshi Nakamoto in 2008, ensures that transactions entered in a registry cannot be changed over time. As for the cryptocurrency bitcoin (BTC), the result is a monetary system that cannot be manipulated by a centralized government, as it creates a permanent and accurate record of all transactions. The strength of the system comes from the use of a distributed database compared to current monetary systems, which require a centralized database, such as that used by credit card companies and banks. Applying the same technology to medical research increases confidence in the results, because just like bitcoin, transactions (collected scientific data) are constantly archived in an unchanged and unchanging way.
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Exchanging money, as well as conducting medical research, requires a high level of trust. Money in the past has generated this confidence through government regulations and central bank supervision. Medical research has in the past tried to build high levels of trust through peer review conducted by reputable medical journals such as the New England Journal of Medicine. Both methods of generating trust rely on a trusted central authority, or the government, or a medical journal. As such, both methods are highly susceptible to fraud through corruption or the innocent mistakes of the centralized body. This has led to widespread mistrust in medical research. Bitcoin works differently because it creates a method for reading a distributed network based on a mathematical algorithm rather than a centralized organ susceptible to human error.

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Financial transactions require perhaps the highest level of trust. People need to know that all transactions recorded in the register are completely accurate and completely resistant to change in the future. As blockchain technology embedded in bitcoin won this trust, bitcoin has become a widely used value store with a market capitalization of over $ 100 billion. When other cryptocurrencies are considered, the total confidence in blockchain-based financial systems exceeds $ 250 billion. In the same way, health professionals must be able to believe that the data obtained from medical examinations are both completely accurate and completely unchanged. Physicians should be aware that medical research is not plagiarized or fraudulent in any way. Blockchain technology has made bitcoin a reliable global currency. Similarly, blockchain-based medical research will significantly increase confidence in the results and, as a result, improved medical care.