Blockchain’s role in healthcare sets up potential growth opportunities

The financial sector is not the only one benefiting from blockchain technology. The healthcare sector continues to find ways to use blockchain technology to improve the delivery of care and improve overall operations.

Blockchain growth, especially in the healthcare sector, has seen exponential growth in recent years. That trend should continue as new applications and innovative ways to use blockchain are developed to make the healthcare sector more efficient.

“Hospital systems, technology startups, pharmaceutical companies, payers and others in the intensely competitive $4 trillion healthcare industry have turned their eyes to blockchain — the technology that underpins bitcoin and other cryptocurrencies — with hopes that it can cut costs and boost innovation,” it said a data-driven investor article. “From 2018 to 2021, global blockchain in healthcare grew at an average annual rate of approximately 55%, driven by concerns about security and transparency throughout the industry’s value chain, according to a recent report.”

“However, it remains to be seen whether healthcare companies can overcome the obstacles that have hindered technology adoption in the financial industry or the obstacles specific to patient care,” the article added.

An actively managed growth opportunity

Investors looking for active strategy opportunities in blockchain technology can look to exchange-traded funds (ETFs). Special Amplify Transformational Data Sharing ETF (BLOK) is an option to consider.

The fund has an active management strategy that can flex with market movements by placing holdings in the hands of experienced portfolio managers. BLOK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.

The fund also adds a touch of diversification – while the majority of the fund (75%) contains holdings in North America-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia Pacific. This means that the fund can gain exposure to growth opportunities abroad where blockchain technology can be used to its full extent.

The fund invests in companies that collaborate with or invest directly in companies that use and develop blockchain technology, the technology behind cryptocurrencies such as bitcoin.

Summary of BLOK’s features per product website:

• Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
• An active management approach can enable the fund to remain flexible, make timely decisions and identify companies best positioned to profit from the evolving blockchain technology space.
• Convenience and transparency of the ETF structure.

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