Blockchain/Crypto in Healthcare

LeoFinance
1 month ago
3 Min Read
560 Words

Blockchain is a new age technology and its getting more attention from various sectors. After all, it provides transparency because it works on distributed nature which is accessible to every authorized user and even in the public domain if it's required. Data is stored in blocks and these blogs are connected with one and another so the entire information is stored in a way that it is impossible to manipulate and if someone tries then it is very easy to track it. Even if any modification is made on the data then it will again require validation before getting added to the block and this is how this technology is so secure in terms of vast data management and maintaining transparency.

The traditional system is not scalable and not immutable as well however with blockchain such functions come default and once data is added in blockchain then it will never get deleted so industries can reply on this technology completely.

image.png

src

Healthcare is one of the sectors that has been growing and adopting more technology. Its required because with the help of technology things can be done faster and that too with the least human intervention. Even data management is another aspect that requires a transparent and scalable system to manage. Information is precious and its very important to keep it secure from unauthorized persons but hackers are so advanced that they figure out some ways to breach the security and perform data theft. Despite using highly advanced security we have seen so many instances of hacking in healthcare.

I remember one of the incidents that happened in Singapore in July 2018. I was deployed in one of the projects in SingHealth at that time. There was a cyber-attack and data for more than 160,000 was stolen by the hackers. This is the news article for the same. In this attack data of prime minister, Lee was also stolen. Singapore is an advanced country that uses state-of-the-art technology for their healthcare and security but even they were attached which means there is always a risk of attack in this sector.

With the implementation of blockchain technology, we can make the data secure and this is one of the most important features that will help the industry. Even with the involvement of blockchain things will be more transparent and thorough crypto, an easy payment system will evolve. Making a payment using the crypto tokens for healthcare services will contribute more to crypto and its one of the things that should happen for sure.

Now healthcare industry keeps data like- patient information, treatment, prescription, historical information, and research data, etc in the system and they follow a mechanism that only authorized persons can have access to it. Getting this information in the wrong hands is risky and this is very sensitive information so it must be handled with a highly secure system and this can be possible only with blockchain.

image.png

src

Currently, covid vaccination is going on with almost every country and blockchain is the best technology to manage the data with ease. Some states in India have already adopted blockchain to maintain their vaccination drive. Blockchain is a revolution for the healthcare sector which can transform the industry and it will bring more data innovation and easy accessibility in this segment.

Thank you so much

Posted Using LeoFinance Beta