Abstract
Blockchain is an emerging peer-to-peer distributed ledger technology with a decentralized architecture that ensures immutability, enhanced security, and faster settlement without third-party involvement. It’s growth is significant and revolutionary in healthcare as the privacy of health records is primary and data leakage is unacceptable. Also, the current managing data in healthcare is centralized with a possible risk of data loss in case of natural disasters. This can be avoided by adapting to this decentralized network. It’s ledger technology helps cryptographically to securely transfer patient medical records, resolve costly mistakes from miscommunication and help to achieve breakthroughs in genomics. Managing medical supply chain and drug traceability are guaranteed with true transparency, high security, speed, and efficiency as these are the key features of Blockchain Technology universal to any field. In this paper, we have discussed how blockchain-based applications can provide personalized patient health attention in the course of time. By incorporating all these important aspects through blockchain, managing healthcare industries could reshape the existing and have crucial improvements. Issues of implementing blockchain over a large scale and computational constraints are highlighted. The practicality of involving blockchain in healthcare is discussed through case studies and available technology trends. This paper outlines various approaches to augment the usage of blockchain technology in the healthcare industry in the future.
Keywords: Blockchain, Decentralized architecture, Enhanced Security, Distributed Ledger Technology, Cryptographically secure, Drug Traceability, Breakthrough in genomics.
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