As per the Wikipedia definition, a blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that is used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks.

Although it is a well-known fact that blockchain technologies can create wonders in the healthcare arena, there is still untapped potential in the field of patient safety. Presently blockchain technologies are being utilized in the drug distribution space, to identify spurious medicines, and thus ensuring safe medicines are supplied to the patients.

Although the primary objective of Pharmacovigilance is to ensure safe medicines for Public Health, there are some well-known barriers to the same, that include

1. Under Reporting
2. Quality of Reports (including incomplete information), and
3. Early Signal Identification

Although automation (including AI/ML) is expected to create a Pharmacovigilance revolution, this may still be inadequate. That is exactly where Blockchain may be able to create wonders. Blockchain technologies can aid in uniting pharmaceutical research, insurance data, Electronic Medical Records (EMR) with patients’ data including (although not limited to) medical history, family history and treatment history, so they can access necessary data securely. This will benefit the patient who has experienced an adverse event. By properly integrating big data (including population exposure), and the AI/ML techniques, we can address most of the challenges, including under-reporting and incomplete information. At the same time, we can have a real-time signal identification mechanism. Besides, one can even expect expedited drug approvals.

The best part is that blockchain technologies ensure that patient data is secure and confidentiality is always protected. With the advent of personalized medicines and Pharmacogenomics in a big way, the sky is the limit for this enabler!