DAOs Are the Future of Healthcare
By Douglas Amante  |  May 13, 2022
DAOs Are the Future of Healthcare
Image courtesy of and under license from Shutterstock.com
Blockchain technology and cryptocurrencies are well-known for their decentralized nature, but what if decentralized autonomous organizations (DAO) were used to disrupt the healthcare industry as well, making it more distributed and personalized? This could also have implications for the sharing and storing of electronic medical records (EMR), as well as pandemic containment and prevention.

Covilhã, Portugal - In the context of the digital health network, the blockchain is a socioeconomic revolution, not just a technological one. As a result, by incorporating this emerging technology into Internet-based healthcare systems, blockchain can be a tool for bringing agents into a more decentralized world and disrupting organizations. 

The first-generation healthcare system on the Internet revolutionized information and was dubbed the information superhighway for healthcare systems. When the Internet became more mature and programmable in Web 2, agents suddenly had social platforms on the one hand and a peer-to-peer economy on the other, with healthcare services becoming more integrated.

According to this ideology, the original vision of the Internet was as a decentralized world in which agents could post information online. However, in Web 2 it became very centralized, with platforms for digital health that reflected a peer-to-peer economy and resulted in this massive entity in the middle that began to control all data and dictate the platform's transaction rules. Many people are living in a connected world in 2022, with blockchain and other decentralized web technologies reshaping data structures referred to as Web 3.

Indeed, the machine consensus mentioned for blockchain approaches enables agents to conduct peer-to-peer transactions without the need for a middle entity, with smart contracts serving as the heart of this machine consensus. In this scenario, a smart contract is simply a piece of code that runs on top of the blockchain and codifies the rules of a transaction to reduce compliance and enforcement transaction costs in a healthcare system based on a Decentralized Autonomous Organization (DAO). Aragon, Colony, DAOstack, MarkerDAO, and MolochDAO are some of the most important DAO-based solutions. They only insert extremely complex smart contracts and governance to define and write a healthcare

The content herein is subject to copyright by The Yuan. All rights reserved. The content of the services is owned or licensed to The Yuan. The copying or storing of any content for anything other than personal use is expressly prohibited without prior written permission from The Yuan, or the copyright holder identified in the copyright notice contained in the content.
Continue reading
Buy this article for only US$1.99
- or -
Continue with Linkedin Continue with Google
Share your thoughts.
The Yuan wants to hear your voice. We welcome your on-topic commentary, critique, and expertise. All comments are moderated for civility.
Insightful read on the role of decentralized autonomous organizations (DAO) in the healthcare ecosystem..