Digital Evolution: Researching Blockchain Technology, Crypto & Healthcare With Dr. Leen Kawas

Dr. Leen Kawas is a respected biotechnology leader and entrepreneur. The Managing General Partner at Propel Bio Partners, Dr. L Kawas, leads her venture capital firm in its quest for the best of the best in biotechnology entrepreneurs.

After thriving at Athira Pharma, where she spearheaded a number of successful drug candidates, executing the firm’s IPO along the way, Kawas would enter the sphere of biotechnology once again.

Now, Kawas is underscoring the importance of the blockchain as it relates to the future of the medical field.

The Blockchain Arena

Blockchain technology has grown by leaps and bounds over the past decade, becoming the topic of conversation in many areas of research. The Grand View Research team reported that the worldwide value of the Blockchain tech sector was close to $10.2 billion in 2022, with the expectation of major growth in the coming years.

Well-versed in venture capital, Leen Kawas of Propel Bio Partners took the time to recognize the importance of blockchain technology while outlining some of its different uses.

Benefits for Healthcare

Blockchain technology can have immediate and tangible impacts in the medical arena, at least according to Dr. Leen Kawas. Kaws pointed out that there are a variety of different benefits that blockchain can provide including.

  • Secured Medical Records – Blockchain-based medical records are secured and accessible by patients and physicians alike. With a fully trackable record, Blockchain access is as secure as possible, which can also help reduce potential breaches.
  • Supply Chain Oversight – With millions of doses of medication produced every single year, the medical supply chain must remain as strictly secured as possible. With blockchain technology available, supply chains can remain meticulously transparent with a full ledger open to the public.

The Path Toward Blockchain in Healthcare

Leen Kawas understands that big changes can take a long time, but she also realizes that the healthcare industry is dragging its feet. Stuart Hanson sat and talked with Dr. Leen Kawas during an interview in March 2022.

During the conversation, Hanson stated, “Blockchain is not a plug-and-play technology solution. It’s also not a silver bullet as a stand-alone technology solution or enabler.”

To overcome the hurdles put in place by the difficulty of the blockchain, Hanson and Kawas believe that practices need to begin the practice of adaption now. Hanson says, “In order to use the blockchain effectively, entire processes have to change, workflows need to evolve, and tech stacks need to be adapted to leverage the real strengths of the capability.”

Mirroring his thoughts, Kawas suggests that the healthcare industry needs to commit itself to change in the coming years so that it can unlock the value that relies on Blockchain technology.