The technological efficiencies of blockchain aren’t just for the financial sector, as the healthcare sector is also looking to maximize its potential for use in patient records. This opens the door for opportunities in blockchain technology investments by retail investors.
“On the healthcare side, blockchain can make information both more accessible and more private, as well as more accurate and more efficient,” a article noted specifically.
The article identified a study by John Hopkins in 2016, noting that the third leading cause of death in the U.S. can be traced back to “poorly coordinated care, such as planned actions not completed as intended, or errors of omission in patient records,” as identified by the Department of Health and Human Services (DHHS) Cybersecurity Program.
To minimize any confusion, blockchain technology could be used to collate patient records and present them to healthcare providers in one easily accessible format. More succinctly stated by the DHHS, “blockchain-based medical record systems can be linked into existing medical record software and act as an overarching, single view of a patient’s record.”
Given this study, the potential for blockchain technology in the healthcare sector appears limitless. As such, investors keen on capitalizing on the growth potential of blockchain could be handsomely rewarded in the long-term horizon.
Investors looking to get blockchain exposure can opt for various public companies that operate within the blockchain or use the technology as part of their core operations. However, there’s an easier way via a dynamic investment vehicle in the exchange traded fund (ETF).
More specifically, investors can look at the Amplify Transformational Data Sharing ETF (BLOK). BLOK is an actively managed ETF that seeks to provide total return by investing at least 80% of its net assets (including investment borrowings) in the equity securities of companies actively involved in the development and utilization of transformational data sharing technologies.
The fund gives investors a varied mix of market caps to maximize diversification across this disruptive sector. A fairly even spread of 35% (as of March 31) spans across large-, mid-, and small-cap companies.
Benefits of BLOK per its product website:
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