Implementation in healthcare Blockchain
Researchers at Research And Markets predict that the healthcare blockchain market will grow exponentially in the coming years, growing from $1.97 billion to $126 billion by 2030. One of the main reasons for this leap is the urgent need of the medical industry for more advanced and reliable tools for storing and processing data.
At the same time, for many people, blockchain is still associated only with cryptocurrencies and mining. Therefore, in this article, we propose to delve a little into this topic and consider how exactly decentralization can affect healthcare and improve the quality of medical services.
What is blockchain Benefits of Technology
By definition, a blockchain is a distributed data ledger system available to every member of the network.
In simple words, it is an advanced database mechanism consisting of consecutive digital blocks, each of which stores information about the previous one. Records in such a network are immutable due to hashing – a unique set of characters, where a change in one character entails changes in other blocks.
The main advantage of blockchain is transparency. The fact is that each member of the network can get acquainted with the information inside the block, but changing or destroying data is, by definition, impossible. From a healthcare perspective, there are many benefits to using blockchain technology. Let’s consider the main ones:
How blockchain solves major problems in the healthcare market Problem solving
As you know, the healthcare sector is not ideal and there are more than enough problems in it. Consider how the introduction of blockchain technology helps to cope with them.
According to statistics, about 1 million people a year die because of counterfeit drugs – they either do not work at all, are not effective enough, and sometimes even turn out to be harmful.
At the same time, WHO data indicate that about 10% of medicines in the world are counterfeited, and in developing countries this figure can reach 30%.
Blockchain offers an effective solution to this problem. It uses a consensus mechanism that completely cuts off any attempts to add data to the registry from unauthorized sources and makes it impossible to delete or change the entered information.
Problem 2. Data management
Another area where the current healthcare system remains weak is information storage. As a rule, patient data is segmented and stored in parts in different, unrelated systems, which greatly complicates the work of medical personnel and hinders quality treatment. This situation is further exacerbated in critical cases, when the doctor has a matter of seconds to make a decision.
Blockchain is able to completely change the approach to storing and exchanging information. Its capabilities allow you to link all patient data and place them on a single secure and reliable platform. As a result, medical staff will have uninterrupted access to comprehensive information about the patient’s medical history, previous appointments, test results, and more. In some cases, this will not only improve the quality of medical services, but also help save lives.
Problem 3. Data security
The security of information storage is another major issue in healthcare. According to statistics, there are hundreds of major leaks of medical data every year – attackers steal patients’ banking information, their credit card information and the results of genomic tests.
Blockchain stores a decentralized and transparent data log, which ensures maximum information security. At the same time, it also provides a high level of confidentiality, since all participants in the network are anonymous.
Problem 4. Supply chain management
When buying drugs in a pharmacy, most patients want to know the origin of the drugs, and whether the conditions for their storage were observed during transportation. It is certainly possible to answer these questions using traditional supply chain approaches, but it is very expensive and difficult.
In turn, blockchain solutions allow companies to track the movement of pharmaceuticals throughout the supply chain – from the manufacturing plant to delivery directly to the pharmacy, with little effort. At the same time, block hashing in a decentralized network prevents any attempts to enter incorrect information.
Problem 5. Checking the qualifications of workers
Due to the large number of public and private clinics, there is an increased risk that a person who does not have the necessary education and skills will be allowed to treat patients. Blockchain can solve this problem. To do this, it is enough that trusted educational institutions and medical companies enter data on their graduates and employees into the register.
Thus, the patient will be able at any time to make sure that he is being treated by a qualified medical professional with the appropriate diploma. The task of the blockchain in this case is to prevent unauthorized entry of information.
Features of developing solutions based on blockchain technology Team and Technology
When developing blockchain solutions for the healthcare sector, it is necessary to focus not only on the advantages of decentralization, but also to ensure high software performance. However, the blockchain, by its nature, is inferior in speed to its server counterparts.
For example, the bandwidth of the Bitcoin network is only 7 transactions per second, and the VISA payment system is 56,000 transactions. Such a huge difference is due to the cryptographic component. On the one hand, it gives the blockchain such important advantages, and on the other hand, it requires very complex calculations, which reduces performance.
To solve this problem, blockchain applications are partially hosted on traditional servers, and their main functionality is published on the blockchain network. As a result, the software works with maximum performance and, at the same time, provides users with all the benefits of decentralization.
Accordingly, for the technical implementation of such solutions, the following team of specialists may be required:
The technology stack for each project is selected individually and depends on many factors: on what platform it will work – on mobile devices, in a browser or on a desktop, what tasks it faces and in what area of healthcare it will be used.
Development of blockchain applications for healthcare in AVADA MEDIA
Our team has extensive experience in developing decentralized solutions for various business areas, including healthcare.
We help design, implement and bring to market innovative products of any complexity, and provide them with qualified technical support at all stages of development.
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