The Healthcare system is the base for the development and growth of every nation. Health is the most important thing nowadays, and if the healthcare system collapses, the people won’t be able to survive. If you are interested in bitcoin trading, cfd trader platform is the perfect platform for you. So, it is necessary to improve the healthcare industry, and blockchain technology can help a lot in it. You can read the following paragraphs to know why blockchain and healthcare system is the right combination.
What is blockchain technology?
Blockchain is a decentralized public ledger that is used to record transactions and data safely. It has a vast network of computers, and all the data recorded in the blockchain is shared with all the computers over the network. Blockchain technology is getting increasingly popular, and it is now used in numerous industries, and one of them is the healthcare industry. Most people think that blockchain is all about cryptocurrency, but it is not true as blockchain technology has numerous incredible applications other than cryptocurrency.
It is a highly efficient system to record data as it verifies each information before adding it to the blockchain. Moreover, once a transaction is recorded in the blockchain, it cannot be removed or modified. Blockchain keeps a permanent record of information which is verified and allows the users to trace the transactions with great ease.
How is blockchain being used in healthcare?
Blockchain is one of the most useful modern technologies, and the health industry is one of those industries which have started making the most out of this technology. In the past, the medical industry has been through numerous data breaches and losing valuable information related to medicines, patients, etc. With the application of blockchain technology into the healthcare system, numerous issues can be resolved. Some of the top issues of the health care system that blockchain can help resolve are as follows;
With the massive demand for drugs in the market, the cases of fake and duplicate medications and drugs have increased a lot. According to some reports, around 20-30% of total drugs in the market are fake. These drugs are ineffective and are made up of using dangerous and duplicate ingredients, which puts the lives of patients and users at a massive risk. Using counterfeited drugs on patients can also lead to their death. It is an alarming problem faced by the healthcare system of almost every country as a duplicate drugs are made and distributed all over the world. Blockchain technology is known for its immutable records and excellent transparency.
Once a transaction is recorded in it, it stays there forever and is visible to every user over the blockchain network. Moreover, blockchain allows users to trace all the records, which makes it easier to track any medicine and check if it has reached into the right hands or not. The primary reason behind people falling for fake medications is that they are unable to check if it is original or not. If the record of all the manufactured medicine is kept with blockchain technology, anyone would be able to check the point of the origin of the medication and ensure that it is original and safe. Moreover, if there is any manufacturing defect in a specific batch of medicines, the producers can easily trace every medicine in the batch from the market and cease them all. Blockchain can help to minimize the deaths and damage caused by fake or defective medicines.
Better record of patient data
There are infinite blood tests, health surveys, and other medical check-ups done on a daily basis. It is vital to keep a proper record of all the data collected from the samples. Recording such a huge amount of data and analyzing it is a difficult task. The chances of making a mistake are higher as a human is not a machine. Blockchain is an excellent technology that can help to make clinical trials more effective and organized. If all the data is recorded in the blockchain, the chances of making a mistake are minimum. All the data that is recorded in the blockchain is first verified, and once it is recorded, no changes can be made to it. Moreover, with blockchain, users can search almost anything throughout the data by just entering the keyword. It makes it easier to check the data and find any information almost instantly.