close
This essay has been submitted by a student. This is not an example of the work written by professional essay writers.

Discerning The Concept of Blockchain Methodology into Healthcare

downloadDownload printPrint

Remember! This is just a sample.

You can get your custom paper by one of our expert writers.

Get custom essay

121 writers online

blank-ico
Download PDF

At its core, blockchain is a distributed system recording and storing transaction records. More specifically, it is a shared, immutable record of peer-to-peer transactions built from linked transaction blocks and stored in a digital ledger.

Blockchain relies on established cryptographic techniques to allow each participant in a network to interact (e.g. store, exchange, and view information), without preexisting trust between the parties. In a blockchain system, there is no central authority; instead, transaction records are stored and distributed across all network participants. Interactions with the blockchain become known to all participants and require verification by the network before information is added, enabling trustless collaboration between network participants while recording an immutable audit trail of all interactions.

While blockchain technology is not a panacea for data standardization or system integration challenges, it does offer a promising new distributed framework to amplify and support integration of health care information across a range of uses and stakeholders. It addresses several existing pain points and enables a system that is more efficient, disintermediated, and secure.

As a transaction layer, the blockchain can store two types of information: (1) “On-chain” data that is directly stored on the blockchain or (2) “Off-chain” data with links stored on the blockchain that act as pointers to information stored in separate, traditional databases. Storing medical information directly on the blockchain ensures that the information is fully secured by the blockchain’s properties and is immediately viewable to those permissioned to access the chain; at the same time, storing large data files slows block processing speeds and presents potential challenges to scaling the system.

In contrast, encrypted links are minimal in size and are activated once a user with the correct private key accesses the block and follows the encrypted link to a separate location containing the information. As an example, the blockchain cannot directly store abstract data types such as x-ray or MRI images: this type of data would require links to a separate location. Organizations considering how data should be stored should therefore carefully evaluate both technical and confidentiality constraints.

The current state of healthcare records is disjointed and stove piped due to a lack of common architectures and standards that would allow the safe transfer of sensitive information among stakeholders in the system. Health care providers track and update a patient’s common clinical data set each time a medical service is provided.

Healthureum is one of healthcare’s earliest adopters of blockchain. The goal is to combine healthcare with blockchain and smart contract technology to bring widespread standardization, scalability and social responsibility. Healthureum is going to be a game changer in the future of healthcare, as it provides revolutionary solutions is data management, doctor consultation and referrals, medical infrastructure, research programs and philanthropic activities.

Healthureum is creating a complete ecosystem of blockchain-based services, which will be accessible to users with the HHEM token, acting as a means of payment and reward for services rendered on the platform. Based on the Ethereum blockchain, our goal is to deliver a robust system, which is accessible globally at your fingertips and provides cost effective healthcare.

Blockchain can also bring transparency and accountability across an array of health-related services, including supply chain, research, counterfeiting and internal operations procedures. By adopting such revolutionary systems, we can expect more affordable healthcare, higher quality of care, faster recoveries, and better patient experience.

The genesis of digital transactions and a digital economy cannot be pin pointed to a single date in time, but instead a progression which has been evolutionary. This can be seen in the evolution of trade, dating back to a barter system c.350 BC, to a commodity market, then a metal market, and soon after came paper money in the 11th century. Since then, credit cards and electronic payments have become the norm in our daily lives. But today we have a new era of currency; virtual money or “cryptocurrency” which has been referred to as one of “the greatest technological breakthroughs, since the internet”. This trend represents a shift to a digital and cashless economy, making way for innovative financial instruments, such as “cryptocurrency”.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.The goal was to invent a digital cash entity without central entity, according to Satoshi Nakamoto, the creator of Bitcoin, first ever cryptocurrency developed in 2009. In his attempt to achieve this, he created a peer to peer electronic cash system using blockchain technology, which operates in a decentralized network, where there is no central server.

The transactions which occur in this digital system are not secured by people or trust, but by math. The math is carried out by machines in a process known as mining where “miners” are rewarded with coins for their effort in verifying transactions on the network to achieve consensus. This framework feature makes the system irreversible, pseudonymous, permissionless, secure and global.

Remember: This is just a sample from a fellow student.

Your time is important. Let us write you an essay from scratch

experts 450+ experts on 30 subjects ready to help you just now

delivery Starting from 3 hours delivery

Find Free Essays

We provide you with original essay samples, perfect formatting and styling

Cite this Essay

To export a reference to this article please select a referencing style below:

Discerning the Concept of Blockchain Methodology into Healthcare. (2019, January 15). GradesFixer. Retrieved August 14, 2022, from https://gradesfixer.com/free-essay-examples/discerning-the-concept-of-blockchain-methodology-into-healthcare/
“Discerning the Concept of Blockchain Methodology into Healthcare.” GradesFixer, 15 Jan. 2019, gradesfixer.com/free-essay-examples/discerning-the-concept-of-blockchain-methodology-into-healthcare/
Discerning the Concept of Blockchain Methodology into Healthcare. [online]. Available at: <https://gradesfixer.com/free-essay-examples/discerning-the-concept-of-blockchain-methodology-into-healthcare/> [Accessed 14 Aug. 2022].
Discerning the Concept of Blockchain Methodology into Healthcare [Internet]. GradesFixer. 2019 Jan 15 [cited 2022 Aug 14]. Available from: https://gradesfixer.com/free-essay-examples/discerning-the-concept-of-blockchain-methodology-into-healthcare/
copy to clipboard
close

Where do you want us to send this sample?

    By clicking “Continue”, you agree to our terms of service and privacy policy.

    close

    Be careful. This essay is not unique

    This essay was donated by a student and is likely to have been used and submitted before

    Download this Sample

    Free samples may contain mistakes and not unique parts

    close

    Sorry, we could not paraphrase this essay. Our professional writers can rewrite it and get you a unique paper.

    close

    Thanks!

    Please check your inbox.

    We can write you a custom essay that will follow your exact instructions and meet the deadlines. Let's fix your grades together!

    boy

    Hi there!

    Are you interested in getting a customized paper?

    Check it out!
    Don't use plagiarized sources. Get your custom essay. Get custom paper
    exit-popup-close

    Haven't found the right essay?

    Get an expert to write you the one you need!

    exit-popup-print

    Professional writers and researchers

    exit-popup-quotes

    Sources and citation are provided

    exit-popup-clock

    3 hour delivery

    exit-popup-persone