Boon for Healthcare Industry: Reshaping the Healthcare Industry via Blockchain Technology
Author : Rinku Raheja, Akshay Kumar Singh and Shagun Awasthi
Abstract :
Blockchain technology, renowned for its transparency and security, is poised to revolutionize the healthcare industry. Operating on a decentralized network, each block in the blockchain serves both as an independent data repository and a critical link in the collective chain. In healthcare, this translates to many potential applications, from bolstering mobile health apps and improving monitoring devices to enabling secure storage and sharing of electronic medical records. In addition, blockchain holds promise for managing clinical trial data and optimizing the storage of insurance information. Despite limited current research, blockchain’s transformative potential in healthcare is undeniable. With its decentralized architecture, blockchain can empower patients, granting them greater control over their healthcare journey while addressing pressing issues related to data security and accessibility.
As blockchain technology continues to evolve, its influence on healthcare is set to reshape industry dynamics. Patients will become central actors in their care management, shifting the traditional healthcare hierarchy. Blockchain’s unique ability to combine transparency, security, and decentralization positions it as a catalyst for a new era in healthcare, marked by patient-centric care and enhanced data protection. This paper explores the revolutionary role of blockchain in healthcare, shedding light on its capacity to empower patients and fortify the security of sensitive medical information, paving the way for a more transparent and patient-focused healthcare system.
Keywords :
Patient empowerment, data security, electronic medical records, decentralization, healthcare transformation
