What Is Blockchain Technology In Healthcare. Blockchain technology is a permanent record of online transactions or exchanges. Multiple industries are adopting the blockchain technology to innovate the way they function.
Blockchain Applications for Healthcare Having explored the importance of blockchain technology in the healthcare sector along with the changes it could bring here are a few use cases which exploit the technologys potential and could make the healthcare industry more open secure and reliable. Blockchain technology could revolutionize the way medical histories are stored and recorded providing physicians with fast and more comprehensive access to patients medical info in times of crisis. Furthermore the global healthcare market spend on blockchain is expected to hit 561 billion by 2025 according to a report by BIS Research.
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To better understand the basics of the technology and the potential application of blockchain in healthcare well walk through several key elements. It emerged in 2009 as the. Blockchain technology is a distributed ledger based system where the information is stored in a distributed ledgers and can be accessed with a key which makes the data immutable. One of the industries that are looking to adopt the blockchain is the healthcare industry.