Everything About Blockchain Record System

Let’s start with the basic understanding of the ‘Blockchain System’. We all know the basic meaning of blockchain. Let’s go technical and gather more information.

What is Blockchain?

A blockchain is a decentralized technology with DLT (Distributed Ledger Technology).

It is a recording system that secures all data; no one can hack or cheat it.

In this type of technology, every block has a different configuration, so if one block has tampered with some uneasy rhythm, the configuration of every block changes.

In other words, if the hackers decide to hack the system, the algorithm alters itself, and one can not hack it.

Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash.

How It Can Be Used In HealthCare?

If someone has to understand this question, let us start with the example of my own life.

Well, 3 or 4 years ago, I met with an accident. I caused two headline fractures and other fractures on the leg.

I was a bit unconscious, so they took me to the hospital. Then the doctor arrived in that area and asked, “Do you have diabetes?”

Again, he asked, “Are you allergic?” he repeatedly asked me to have basic information; he asked, “Do you have high blood pressure problems?”

It’s very pathetic to answer all the questions he was asking then. Because I was semi-unconscious, doctors also face problems in situations like this where patients’ family members are not with them, and the patient is not conscious.

Now, look at the questions that came to my mind:

• What if a patient has diabetes and gives an unfair answer because of unconsciousness?

• What if the patient is allergic and cannot recall the medicine’s name?

• What if the patient has a short-term memory due to injury and can not answer all the doctor’s questions correctly?

Then, a solution came to mind: Is the same data shared among all the hospitals?

If not, though, the solution to this question is suggesting a centralized database for the hospital.

Although that may be the case, what if, for example, I went to hospital A for the first time and, on an urgent call, had to go to hospital B?

What if the hospital denies data sharing? Or if they feel that they lose the patient and demand an extra charge for the data? In that case, what should one do?

After researching everything, top healthcare developers came up with the idea of a blockchain facility where the data is decentralized and the database is finely tuned up.

Advantages/Pros of Blockchain Record System Technology?

• Prior transparency:

This technology deals with the added feature of transparency. In any firm, a separate database has to be created to keep records, but sharing with all other members is troublesome.

All the members can access data with complete transparency and legacy.

• Enhanced Better Security:

This technology deals better with end-to-end security databases.

Your data is sensitive and crucial. Blockchain Security handles the Security of essential information. The data keeps updating per the user’s needs and encrypts data, so data leaking and hacking are impossible.

• Instant traceability:

Blockchain creates a dock where the provenance data can be audited at every step. Every industry is afraid of fraudulent activities and data theft. But we are this technology, in which the auditing and tracing facility is an added feature.

• Increase efficiency and speed:

As the time-consuming process decreases with technology, data management and data recording can be done quickly, so while using it, work can be done more efficiently and at a lower speed.

• Automation:

This technology provides us with the extra feature of an automated string facility.

Transactions are done with the “smart contract” to increase the efficiency and speed of the work.

For instance, in medical insurance, once you provide documentation, every payment is made directly when you need a claim; the terminology has advantages and disadvantages. Let’s check the disadvantages too :

What are the cons of blockchain Record System technology?

• Scalability and speed decrease:

Blockchain technology gets slower if there are too many users on the network.

Blockchains are more complex to scale due to their consensus nature.

• Blockchain Consumes More Energy:

Some blockchain solutions require too much energy. Blockchain technology was introduced with Bitcoin because it uses the proof of work consensus algorithm that relies on miners to do more work. Miners are incentivized to solve complex mathematical problems, and it consumes more energy to solve them.

That makes it so complex for the near world.

• Blockchain can not go back:

Data is unable or we can say it is immutable and has always a foremost disadvantage to the blockchain. Another problem it suffers from is data, once written, can not be removed again.

• Culture:

Most people use the old-school and traditional methods.

Even industries are new to the technologies because they are prone to use old methods.

Surveys have shown that blockchain is about eighty per cent process change for beginners, so people are afraid of using it.

Conclusion:

Every innovation has its benefits and drawbacks. Blockchain technology can be used with better initiatives and by adding pro features.

There are new versions of the blockchain; it is more feasible.

Looking forward more to the advantage rather than the disadvantage, start adopting it more wisely.

The Healthcare industry has a comprehensive coverage of blockchain networking.

As the figure suggests, the Healthcare sector has a wide coverage area to keep recording the data, analytical and statistical data, and patients’ minor details.

All the data and systems are appropriately managed and well-planned. Top healthcare providers will make better solutions for a better future.