Blockchain technology for universal health coverage: a preliminary overview of law and policy

Blockchain technology together with allied cryptocurrencies could have immense implications in both global health financing and global health equity and, eventually, contribute tremendously to universal health coverage. The Blockchain technology can ensure direct financial transactions for universal health coverage without third parties' interference, introduce novel multilateral financing options, enhance security, reduce fraud and corruption, and provide ample opportunities for free markets of health data, essential for discovery and innovation. Although blockchains present a secure, privacy-enabled, and accurate mechanism to store and exchange healthcare information and support for universal health coverage, there exist inherent dangers in the sectors that entail effective legal and regulatory measures. Additionally, there remains a significant knowledge gap encompassing the application of Blockchain technology in the universal healthcare systems, associated dilemmas, prospects, and policy options. This chapter aims to clarify the legal aspects of universal health coverage, application of Blockchain technology in diverse areas of healthcare systems, and regulatory and policy challenges along with their implications and finally, offers appropriate policy recommendations. To comprehend the relevant facts, findings, and issues, extensive literature was analyzed from both primary and secondary sources. The study employed the content analysis technique in reaching the concluding remarks by way of the authors' analysis. Finally, the findings have been demonstrated descriptively.