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How Blockchain Will Revolutionize Healthcare - Sustainable Conversations
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How Blockchain Will Revolutionize Healthcare

How Blockchain Will Revolutionize Healthcare
Before 2009, cryptocurrency and block-chain were not popular terms. However, since their release as open-source software that year, the underlying technology has become a crucial driver for various industries, including finance, gaming, health care, engineering and agriculture. The size of the block-chain industry is expected to reach a stunning $23.3 billion in 2023.

Blockchain technology is a decentralized, digitized ledger or database for storing “blocks” of information. It allows for the transfer of ownership of units using an encryption system without control by the government or a central bank. In this article, we will discuss how block-chain will revolutionize the healthcare industry.

Blockchain eliminates breaches in doctor-patient confidentiality
Although the healthcare industry has, since inception, insisted on its quality of patient confidentiality, it has been plagued by insufficient security and hacking of patients’ medical records for many years. Many healthcare professionals have even been exposed to litigation on account of a breach in health records.

With the adaptation of block-chain tech into the sector, not only can health records be stored on the block-chain, but patients also get to decide who can access their information. This way, responsibility is maintained by the health professional, any breach of patient health information can be easily traced, and unauthorized third-party access to sensitive information can be eliminated.

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