By Camille Mojica Rey, Contributing Writer
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Ask life sciences industry leaders and experts about blockchain, and you will hear it called everything from “a game changer” to “a major disrupter.” According to the hype, the technology behind cryptocurrencies, like bitcoin, is going to completely transform day-to-day operations for life sciences companies.
Blockchain technology, which allows the creation of shared digital ledgers, has been touted as a way to increase supply chain security, decrease human error and fraudulence in clinical trials, and improve postmarketing surveillance. And these are just some of the big-picture problems people expect blockchain to resolve. As blockchain technology is developed, few doubt that it will change the way data is collected and shared within companies, as well as between companies and third parties — such as CROs, partners, and regulators.