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The Role of Blockchain Technology in Healthcare

Hungary provides universal healthcare to its people, which is funded by citizen taxes and the National Health Insurance Fund. Blockchain in Hungarian healthcare might help alleviate the pain by deflating the present expenditure bubble, protecting patient data, and improving the overall experience.

Blockchain expert Boross Örs (read more here) explains the role of blockchain technology in the Hungarian healthcare system.

What Is Blockchain?

The word "blockchain" refers to a shared, immutable record of a sequence of transactions, each of which is made up of one block and kept together by cryptographic keys or "hashes."

These keys or signatures are kept in shared ledgers and connected by a network of nodes or processes. Each node maintains a copy of the whole chain, which is continually synced and updated.

The benefits of blockchain technology include its tamper-resistant nature, the decentralized structure of digital ledgers, and the impossibility of altering a published transaction later within the user community that shares it.

Applications of Blockchain in Healthcare

  1. Research

Currently, electronic health records only allow for the automatic updating and sharing of medical information on a single patient inside a single organization or network of organizations. Blockchain developments are poised to increase the number of patients included in shared medical information.

This would provide academics and other organizations access to a wide range of data, including patient cohorts numbering in the hundreds of thousands. Clinical research, reporting and identification of safety and adverse events, and public health initiatives would all benefit significantly from the availability of such large volumes of data.

  1. Seamless Patient Transfers

Individual patients may use the same information on the blockchain to quickly unlock and share their health data with other doctors or organizations using a shared private key. This might aid in the interoperability and collaboration of health information technology (HIT) across diverse users.

  1. Improved Patient Care

Blockchain may be used to build a single system for securely storing and retrieving health information by authorized users. Innumerable errors may be avoided, faster diagnoses and treatments are feasible, and care can be customized to each patient by preventing miscommunication between different healthcare personnel.

  1. Interoperable Electronic Health Records

It is possible to keep specified sets of standardized data on the chain, alongside private encrypted connections that store separate information - like radiographic pictures, for instance. The blockchain can enable a single transaction layer where companies can submit and exchange data through one safe method.

  1. Data Protection

Between 2009 and 2017, there were approximately 176 million data breaches involving healthcare records. The blockchain's encryption characteristics can significantly improve the security of health data. Each person has a public identification or key and a private key that can only be opened when and for the length of time required.

Furthermore, the necessity to target each user individually to gain sensitive information would limit hacking. Therefore, blockchains can provide an immutable audit trail of medical data.

  1. Medical Supplies Tracking

With complete transparency, blockchain can assist in safeguarding and identifying the trail of pharmaceutical supply. It can even track the labour expenses and carbon emissions associated with the production of these items.

  1. Health Insurance Claims

Because of its capacity to display medical events as they occurred without the possibility of later altering the data for fraud reasons, blockchain is particularly suited to claim to process.

  1. Tracking Diseases and Outbreaks

The unique features of blockchain can aid real-time disease reporting and disease pattern analysis, which help determine the disease's origin and transmission factors.

  1. Keeping Genomics Safe

Genomic data theft has become a serious concern as more firms offer personal DNA sequencing services. This can be avoided using blockchain - by creating an online marketplace where scientists may acquire genetic data for research reasons. This might encourage secure selling while removing the need for costly intermediaries.

Apart from healthcare, blockchain has found significant crypto entertainment growth, along with applications in legális online póker. The notion of blockchain-based póker online is similar to that of a regular poker game with binders that keep track of each player's poker chips after each round. However, in the blockchain-based legális online póker, the poker chips are replaced by a cryptocurrency as the exchange.

Conclusion

Blockchain technology has grown in popularity over the last decade, attracting attention from various industries, including banking, government, energy, and health. In healthcare, blockchain applications are still in their infancy.

Decentralization, anonymity, and security are three of the most intriguing aspects of blockchain useful to healthcare applications. Blockchain services might improve healthcare data administration with enhanced security and systems that promote synchronized transactions.

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com