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The Potential Influence of Blockchain technology on the Health Sector

The idea of blockchain originated and was designed by a person (or group of people) using the name Satoshi Nakamoto in 2008 to serve as the Mass transaction ledger of the cryptocurrency bitcoin.

The Blockchain technology presents numerous opportunities to the health sector although still very much in its infant state but the application on the health sector will potentially improve the sector’s mobility, transparency and productivity.

The Key areas the Blockchain can transform the Health Sector:

-The technology secures all areas of the health sector

-Identity verification and authentication of all participants

-Unchanging patterns to give instructions for the entry to access medical history for examination and quick administration of medication.

Blockchain in health sector can help improve the sector in this area

-Administration of electronic medical record (EMR) data

-Protection of vital healthcare information

-Personal health record of patience data management

-Point-of-care genomics management

-Medical history data management

Blockchain technology will create a system that will be updated constantly, health records that can be retrieved by authorized and licensed users to avoid any challenge for the medical history of a client for easy and quick diagnosis and quick rapid response.

The technology will create a single transaction data for the sector for the submitting and sharing of data through one secure layer, by storing a specific set of systematized data with private encrypted links to separately stored information such as x-ray scans or other images and other medical data.

Over the years, currently over 186 millions clients’ data have been compromised in healthcare. The transparency and Security which the blockchain technology provides for the Financial Sector can be applicable to healthcare data. The technology will provide encrypted passcode for clients which can enable the authorized personnel to access medical records of a client.

This Proposed method will reduce data breaches over the years and improve transparency and stability in the Health Sector.

Blockchain technology application in the sector will eradicate data hacking in the sector, and will also identify the potential life savings discovery in the pharmaceutical industries and give the industry the needed help to enable transparency for better service. It can also dictate errors made during the manufacturing of pharmaceutical products.

The Potential Influence on the Health sector will identify and help several scientists and microbiologists with disease reports and also help to examine disease patterns to identify the origin of various disease park patterns.

A recent report from Forbes, about the blockchain technology being applied in over 22 hospitals based in Utah, USA.

Blockchain technology frameworks that are in use at present on a relatively small scale include;Ethereum and Hyperledger Fabric.With improved blockchain security and systems that promote synchronized transactions.

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