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“The blockchain is the most consequential technology since the internet. The internet is programmable information. The blockchain is programmable scarcity.” — Balaji Srinivasan, CEO of 21.co
Blockchain is a type of data structure that’s used to create a digital ledger of transactions and share it among a distributed network of computers. The distribution network could include smart phones, tablets, cloud-based resources or on-premises compute nodes. Imagine a universal digital ledger that helps shape how you transact with other individuals or entities all in a secure and anonymous fashion. A key outgrowth of the ledger is the idea of “smart contracts”, which “provide security superior to traditional contract law and reduce other transaction costs associated with contracting”.
Technologists and health-care professionals across the globe see blockchain technology as a way to streamline the sharing of medical records in a secure way, protect sensitive data from hackers, and give patients more control over their information Blockchain has the potential to propel innovation in preventative care and community-based healthcare models. The capacity of a distributed ledger technology for ensuring data integrity while sharing between parties can ensure collaboration between rising trends in healthcare; which are vital to the improvement of health in communities worldwide.
Here are some of the other ways that blockchain could benefit health care:
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