Blockchain is a term that has been in mouths of many people in recent years. Since the rise of the digital currencies such as bitcoin, this technology has gained ground significantly as a means of securing transactions. It is an electronic ledger that cannot be altered. Every transaction can be viewed. The system has been working well with the digital currencies and has proved to be a viable way of protecting even other things apart from digital currencies. Blockchain has proved to be almost hack-proof. The system can only show data that it is allowed to by the account owner. If used appropriately, there many industries where it can be used to reduce incidences of fraud. One industry that will not be left behind according to financial expert Paul Mampilly is medicine.
Blockchain can tell whether your prescription medicine is working properly. How can this happen, many people may wonder? By use of an e-pill, it is possible. The pill will contain digital sensors that will send a signal to a mobile application on whether the expected reaction has taken place. In such a scenario, one will know whether to see a doctor or know the pill has worked. Another benefit is that a doctor can tell whether the patient is taking a pill or not. If a patient misses a pill, the doctor can know and even inform the patient about it. By following how drugs work, it is possible for manufacturers to make adjustments to increase the efficiency of the drug.
About Paul Mampilly
Paul Mampilly is a leading financial expert in the United States. He is a winner of the Templeton Foundation Award in 2009 where he emerged as the best trader in the Wall Street. He has worked as a hedge fund manager for an organization that was ranked as the best return hedge fund for the period he was in this business. Paul Mampilly is now working for the millions of Americans who need support so that they can accumulate wealth. He is at Banyan Hill Publishing working as a senior editor. He has authored investment materials such as the Profits Unlimited newsletter.