The digital arena is constantly evolving, and Blockchain technology is playing a key role in this. Blockchain brings about better security, real-time traceability, and increased transparency. To be more precise, Blockchain technology across the globe was valued at $10.02 billion in 2022 by a 2023 report from Grand View Research.

The aggregate Blockchain market is forecasted to expand an outstanding 87.7% compound annual growth rate (CAGR) from 2023 to 2030. This aggressive market expansion is because of a massive influx of venture capital funding.

Leen Kawas, Ph.D., knows a lot about the impact of venture capital on emerging biotech and life sciences business growth. Kawas is the Managing General Partner of Propel Bio Partners. Propel Bio Partners is a biotechnology venture capital firm based in Los Angeles and works with biotech entrepreneurs looking to move their companies to a whole new level.

According to Kawas, Blockchain technology is crucial to several business ventures. While the 21st-century business landscape relies on the adherence of stakeholders to traditional business practices, companies should also integrate digital technology into their everyday activities. With digital technology, companies are able to improve efficiency, reduce operations costs, and automate certain functions.

Leen Kawas stressed that Blockchain technology can be relied upon to help companies achieve their goals. Kawas also has comprehensive knowledge of the application of Blockchain in the U.S. healthcare industry. For several years, the healthcare industry in the U.S. has been expanding and started integrating Blockchain technology into its operations. In 2023, Mordor Intelligence, a market research firm, published an in-depth report on the healthcare’s Blockchain market. The report also included market forecasts from 2023 to 2028.

According to researchers, the healthcare’s Blockchain technology market is expected to continue growing largely because the technology is now widely accepted. Besides, Leen Kawas predicts further market expansion. She explains that a Blockchain-based medical record system will make things easier in U.S. hospitals.