We cannot deny that blockchain technology is here to stay and since its birth, many sectors have improved remarkably.
This technology combined with the unstoppable advances in artificial intelligence can facilitate our day to day, the security of our data, save us time and money.
We cannot deny that the constant evolution of technology has a quite positive impact on our day to day. Only in the last decade, we have witnessed how technology has been able to improve the financial, educational and health systems. But in the current situation it is impossible to ask how will impact the technology blockchain on the medical care?
In these fields (and several more) computers and the Internet have become fundamental. However, inventions like AI have managed to increase the need for better automation systems to remove limitations. And precisely, one of those great discoveries that are changing the world is Blockchain technology.
Thanks to blockchain, we have seen how the financial system has changed significantly, which is precisely why the word cryptocurrency is the first that comes to mind when we talk about this kind of technology.
Thanks to Bitcoin, blockchain has become a household name among the people. Fortunately, this technology is not limited to cryptocurrencies. It can be more than just a financial ledger.
During the last years, the health sector has seen how it needs innovation to provide safe and stable care. Currently, health care providers are focused on the patient and not on providing adequate health services at affordable prices.
Blockchain is what healthcare providers have been looking for for a long time. Managing to generate a noticeable impact in this sector and making the system more accessible, reliable and profitable.
Characteristics of a chain of blocks
Blockchain is a database of transactions between peers stored in the form of blocks linked to each other in a completely secure manner. It is a system that was designed to record transactions and store them securely so that no one is able to modify the information.
The information in question is stored in blocks, and after verification of the transaction, more blocks of data can be added and form a chain. In case someone performs a manipulation on the blockchain, then another block is created with the data about the changes made. Thanks to this, changes can be traced back to the source after verification.
How Blockchain Technology Would Impact Healthcare
Decentralization
We begin with the most obvious and that is that it is the main characteristic of this technology. The data is stored in a decentralized network in the form of blocks. The network is completely transparent and everyone has a copy of the data. Any change in these data can be rejected if the majority so decides.
Security
Since the blockchain is a decentralized network, other members can prevent any kind of data change. So there is no kind of possibility of information manipulation, which means that the data will be protected.
autocorrect
If there is any alteration in the blocks, then it is cross-checked with other blocks and it will result in the eradication of the error.
distributed ledger
Independent computers record and share transactions. It also synchronizes the data in respective e-books.
No resemblance to a regular database
Many databases use tables to store this information, using blocks that are chained together. The storage process of blockchain technology is unbiased and simple.
Blockchain has different characteristics in financial and health services. How which ones? Medical record keeping, electronic data management, healthcare data protection, etc. are just a few important things where this technology could be very useful.
How can Blockchain help improve healthcare?
It is an emerging solution for various sectors of healthcare, which can include logistics and maintenance of patient medical records. But let’s take a little more detailed review.
Clinic history
Something that is fundamental is the health record of the patients and this has to be protected. This technology can provide full access to these records in a simple and convenient way.
Patients may be able to share all or part of their information with their physicians. It would even be feasible to set the visibility time of the records.
Something that could even be positive for insurers, who will be able to connect directly with patients without the need for third parties.
The possibility of using cryptocurrencies to pay for medical care
Currently, the use of cryptocurrencies is wide, but in limited sectors. Fortunately, the use of cryptocurrencies is increasing considerably with the passage of time.
Imagine a world where we can make cryptocurrency payments through a wallet. At present there are already, although few, health centers that offer this possibility.
Transparent supply chain
One of the great problems of the health industry is its ability to guarantee the authentic and adequate supply of medicines.
This technology makes it possible to track the medical package at every stage, including the shipping time from its origin to its destination. Improves the credibility of medicines. Additionally, AI-connected blockchain ensures seamless optimization of the supply chain and thereby improves healthcare in general.
Greater security and transparency
Attacks on hospital systems are becoming quite common today. This is where patient data is put at risk and protecting it is critical. Blockchain technology is precisely capable of providing the necessary security.
Cryptographic keys are used to give patients full access so they can have the key to unlock their records. Thanks to this, they are protected against this kind of attack.
A reduction in costs
Any healthcare center has as its main objective to provide efficient and reliable healthcare at the best possible cost, blockchain can help reduce costs that are unnecessary for patients and the industry in general.
This will be achieved thanks to the fact that this technology will provide protection against problems such as the completion of reports, theft, system failures, etc. Nor would it be necessary to constantly create new records, since they would all be kept on the blockchain. This not only translates into saving money, but also time.