Using blockchain technology for healthcare 5 0

Global healthcare is set to undergo a paradigm shift with the use of digital technologies, which will lead to the transformation of conventional healthcare into smart healthcare.

With the potential to transform the way healthcare is created, approached and delivered, data is at the forefront of healthcare’s future.

It is expected that blockchain technology will have a significant impact on many industries. A distributed database such as blockchain ensures transaction security and transparency without relying on central authorities. To streamline their processes, companies are exploring blockchain technology.

Over the past few years, this new technology has been the subject of much hype. Although still in its early stages, it has the potential to disrupt multiple industries. Blockchain technology is gaining ground in healthcare, banking, finance, supply chain management, etc.

It is also widely used in medicine and healthcare. With big data being generated and data breaches always on the brink, blockchain has proven to be a reliable technology when it comes to privacy and security.

Data reliability is a key part of blockchain technology, as it is constantly verified, which increases the quality of the data.

Also, a blockchain can help patients and institutions share their data securely, prevent fraudulent editing, and encourage data sharing.

A blockchain is a distributed system that produces and stores data records. It maintains a digital ledger of linked “blocks” of information. Each of these blocks specifies how data is stored, changed or retrieved in a network. Without digging deep, suffice it to say that it is a decentralized approach that makes it possible to achieve unified data. This is the concept of “hashing”. Hashing designates each block with a unique identifier that changes based on the contents of the block. If the block’s data changes, this will be reflected in the hash. A change in one block will cause the subsequent block to recognize a hash change. This ensures overall accountability, and therefore it is impossible to manipulate or misrepresent data. Because of this, interconnected blocks form a “chain”, securely designed in a decentralized manner. Because data cannot be tampered with, it greatly simplifies data exchange, storage and retrieval in the network.

Data security

The healthcare sector currently uses blockchain technology most often to keep medical data safe and secure. It is a dual system that is both transparent and private. It hides the identity of individuals and protects the sensitivity of medical data. But at the same time, it allows patients, practitioners and providers to share confidential information safely and effectively.

Patient monitoring and App

Blockchain technology is also part of certain mobile health apps and remote patient monitoring. Mobile health applications are increasingly being used globally – a likely side effect of the pandemic. Although mobile applications greatly aid in patient care and satisfaction, they are particularly susceptible to malware. However, with blockchain, records are secured and the data can be transferred to medical professionals without data leakage.

SCM

When it comes to the transportation of medicines and drugs, blockchain can help secure and trace the journey of these pharmaceutical supplies. In fact, a couple of companies are using blockchain to even monitor the level of carbon emissions in transportation.

Currently, the digital revolution in healthcare is changing how medical institutions, health authorities, insurance companies and patient groups interact.

Blockchain remains at the forefront of technology innovation in healthcare using value-based care. It has certainly increased over the years and will continue to do so. It has penetrated quite a few sectors, including healthcare, and triggered developments in data protection and security. We have probably not reached blockchain’s full potential, and there are clearly many more ways in which this technology can be exploited. One thing is for sure – we are going to see a lot more of blockchain in the future, especially in healthcare.