In this day and age when the internet literally lives in people’s pockets, the idea of blockchain technology grabbed the eyeballs of many as soon as it hit people’s digital timelines.
For the unaware, a blockchain is a distributed database that stores records, known as blocks. These blocks can store various types of information. At present, the most talked about one being bitcoin, a block which stores financial information. A number of these blocks form the blockchain. Blockchain transactions are logged publicly and in chronological order. The database shows an ever-expanding list of ordered blocks, each time-stamped and connected to the block that came before it. These block in a blockchain cannot be changed, deleted or otherwise modified, in fact, it’s an indelible record that a given transaction took place.
This record, encrypted and verified by the network, can be distributed and shared across networks, with credentialed users only able to add to the transaction log. They can’t delete or alter the existing log. Thus, blockchain’s interoperability and security potential make it a trustworthy way of securing data as it’s exchanged among organizations in a defined format without any breach of privacy.While the bitcoin is currently everyone’s favorite asset to invest in, a lot of people are looking at other sectors where the blockchain technology can be used effectively. Having said that, blockchain-based technology has the potential to alleviate one of the major challenges of this decade: secure healthcare without compromising its privacy. For the same reason, over the past year, healthcare has taken to blockchain in a major way and is expected to continue innovating and investing in the technology in the near future.
Healthureum is one such example which aims to transform the healthcare scenario by using blockchain technology. At present, the healthcare industry is struggling to keep its costs down while remaining competitive. With its continuous evolution, it seeks methods to reduce costs while maintaining quality care for patients. Among other issues faced by the industry, there is a growing demand for storing and protecting health records.
As the cost of healthcare delivery continues to increase rapidly, just imagine how beneficial would it be if you can have the full and accurate history of your health on one trustworthy platform? Healthureum Blockchain Technology plans to revolutionize exactly that.Unlike usual methods of storing data, the Blockchain technology securely stores the one and only version of health records of the world’s population on a single database. It means whenever someone will require your health data, he/she can get the true record of it by requesting the same from the blockchain. This way, not only does it give the patient more control over the data but also increases the probability of accurate diagnoses, and more effective treatments. And as a result of placing the patient at the center of the healthcare ecosystem, it’d help medical organizations to deliver cost-effective care better than like they usually do.
In short, the introduction of Blockchain technology in the health world would significantly increase the security, privacy, and interoperability of health data. Take, for example, you go to a physician for a regular checkup and take your previous health records with you. Now visualize if those papers were digitally stored in a secure manner and could be shared in real time across a group of people or institutions. Enter: Healthureum. In addition to that, what could be better than the doctor updating it digitally by time-stamping it as a permanent record which cannot be tampered? The best part of it all is you being the only person having full control over it.
Let’s take another example. Currently, patients have their medications prescribed and filled by various entities, such as hospitals and pharmacies, meaning each entity has their own database which can result in discrepancies in health records. With blockchain standing as the only digital platform having a patient’s true health records, there will be less or no chances of the records being modified or altered and will help the doctors to coordinate patient information better. Needless to say, with Healthureum Blockchain Technology, the quality of healthcare is predicted to increase, and the risks and costs attached to it are likely to go down.
Many healthcare companies across the world are realizing the benefit of cryptographically secured data to seamlessly access to real-time patient health data, minimize frauds and eliminate the cost and burden of data reconciliation in near future. As Blockchain-based technology like bitcoin is taking up people’s attention, their excitement to explore other potential uses for blockchain is increasing with each passing day. One of those potential uses of blockchain is definitely the healthcare sector. Having a distributed database for healthcare-related information will benefit it from increased accessibility, precision, and safety, all of which can possibly alter the aftermath of patient healthcare.
This opens the doors to companies like Healthureum to improve patient care all across the world.