Impact of Blockchain-Digital Twin Technology on Precision Health, Pharmaceutical Industry, and Life Sciences Conv2X 2023 Report
Ingrid Vasiliu-Feltes, Michael Mylrea, PhD, Christina Yan Zhang, Tyler Cohen Wood, BSc Brian Thornley
Abstract
The convergence of Digital Twin technologies with precision health, the pharmaceutical industry, and life sciences has garnered substantial recent attention. As we advance toward personalized medicine and precision health, the fusion of Digital Twin and blockchain technologies is poised to enhance healthcare outcomes fundamentally. This conference discussion highlighted pivotal drivers accelerating the adoption of Digital Twin-enabled blockchain solutions, encompassing the shift to a decentralized World Wide Web (Web 3.0), the establishment of a global interconnected health ecosystem, and the distinct advantages offered by converging frontier technologies in optimizing healthcare, pharmaceutical industry, and life sciences. Yet, the effective deployment of blockchain-powered Digital Twins in precision health necessitates robust cyber safety measures, proactive ethical frameworks, data validation, provenance assurance, streamlined supply chain management, and heightened interoperability. These proceedings underscored blockchain-powered Digital Twins' pivotal role in reshaping health data management, security, sharing, ownership, and monetization and in revolutionizing pharmaceutical supply chain management and novel drugs and therapeutics development within the precision health domain.