Blockchain Technology and Initial Coin Offerings (ICO) In Health Care System (Preprint)
UNSTRUCTURED This paper reviews the empirical literature on blockchain technology, initial coin offerings, and digital coins. It will also analyse the challenges and legal implications of this technology. Although the rise of blockchain has impacted the financial and business sectors considerably, very limited research has been conducted on the implications of this technology and initial coin offerings in the healthcare sector. The blockchain literature is still scarce and needs to be further developed in medicine and healthcare fields. The scope of this article is twofold: 1) to analyse the impact of blockchain technology especially initial coin offerings in the healthcare sector; and 2) to understand the legal challenges surrounding initial coin offerings such as digital tokens. The added value of blockchain technology includes its potential for data analysis in medicine (big data analysis), data privacy, DApp tokens, payment gateway in blockchain technology, and storage of patients’ data in more secure networks. The rise and evolution of data analysis will have positive impacts on the wider healthcare sector.