Traditional Medicine from Mexico

In Mexico, some people have used iodine as a means of preventing baldness. One woman used iodine for years as a preventive measure against baldness. She used it as a rinse after washing her hair. Another woman told me to "cure" a bald spot by dabbing iodine on the bald spot or area of thinning hair. After a while, a crust will form. Eventually, beneath the crust fine hairs will start to grow. She said it can take about three months to see the results. I don't know if this would work with men. It's something I've heard about. Can you give me your opinion on this?