In this digitized world, every progress of the humans are more facilitated and subsist the reduction of manpower. Obviously, this circumstances exists by cause of the arrival of emergent and sophisticated technologies. Not only the humans but also the industries and sectors prevail fathomless perks by this technology enhancement. As a known fact, the sole technology which expedite numerous sectors and considered as the dawn of era is BLOCKCHAIN.
Why Blockchain Technology for Industries?
Generally, every technologies has its certain pros and cons. In the same way, blockchain has its unique pros to deliver the industries. Here are some among them.
(i) High Data Quality
The data in blockchain is absolute, consonant, accurate, timely and easily available. Henceforth, the data are considered as high quality one.
The technology fame for its transparent trait where all parties can view the deviations if any occur in the public ledger. Likewise, all the transactions conducted on the platforms can not be deleted.
(iii) Lack of Intermediaries
Another wondering trait of blockchain is lack of intermediating. It symbolizes that there is absence of third parties and there won’t be any counter party risks.
(iv) Simplified Ecosystem
As all transactions will be proven in an individual public ledger, it destruct the complications and disorder that come with multiple ledgers.
(v) User Empowerment
Users are authorized as they are in control of all the data and transactions conduit on the platform.
(vi) Durability and Longevity
Being a decentralized network, it does not have central point of failure. In the consequence, it is able to hold up malicious attacks.
As a matter of fact, blockchain aid several industries and to point out one among them which obtain more benefit by this technology is healthcare.
Challenges that Healthcare Industry Faces
Here are the challenges that healthcare industry is facing:
(i) Conventional Data Collection
To mention, prevailing conventional Data collection and lacking of secure infrastructure which can permit a rapid transactions interoperability between several data points.
(ii) Data Accessibility
The prime challenge faced by healthcare sector is data accessibility. Accessibility to protected health information (PHI) sets restricted research progress.
(iii) Data Privacy and Security
Data privacy and security holds as a top issue of healthcare sector. As a matter of fact, it is not a wonder, that the medical data flow is often stifled leads to the enhanced risk of medical error and fatalities, when there is sharing of critical patient information.
Blockchain Solutions to the Healthcare Challenges
(i) Data Protection
BlockChain technology equipped with the modish cryptographic features not only serve for the checking of data authenticity with the digital signature but also it aid to offer foolproof data security. As a result, it provides precise solution to the twin issues of trust and security.
(ii) Smart Contract
With the tailored provisions, it is simple to capture the patient information absolutely and once the information is recorded in the blockchain remains immutable as well as professionals can easily trust the data. To point out, with the patient’s private key, the captured record in a permission network can be accessed easily
(iii) Transparent and Organized Process
Blockchain technology not only results in unified healthcare data but also hold out and work trackable distributed data records. As well, the access of public/private key powerfully guard the overall security through elimination of data leakage. On the other hand, blockchain technology also assist to track the motion of drug from producer to the patient. Rather than all these ensuring timely supply, it also eradicate the chances of counterfeiting.
Innovating Traditional Models of Healthcare
Generally, blockchain has the potential to impel innovation in preventive care and community-based healthcare models. Blockchain can tie-up together the team-based healthcare, finance and payment with the inbuilt holding of cryptographic public and private key access, proof of work and distributed data builds a new level of integrity for healthcare information.
Blockchain cater resistance connectivity, reinforced by smart contracts and authority to access all electronic health data. In the same way, its transaction layer can modify access to a different set of interchangeable, anonymous and non-patient identifiable information instantaneously. In the same way, transparentness and mechanization can also leads to increased efficiency and reduced administration costs. To mention, It is a phased approach rather than an instantaneous system overhaul, and hence aptly suited to healthcare sector.
Scope of Blockchain Technology in Healthcare
The scope of blockchain technology in healthcare is immense. In future, undoubtedly blockchain technology will act as a functioning device of the healthcare sector with showering infinite benefits.
Integrate Blockchain with your Healthcare Sector
Integrate blockchain technology with your healthcare sector to attain the above mentioned advantageous traits which aid your sector without any hassles and iterations. As a result, the blockchain solutions for healthcare overcome all the challenges of the industry efficiently and effectively.