Tag Archive blockchain
Blockchain development in healthcare business
Health Information Exchange is another time-consuming and complicated process that leads to high healthcare cost.
According to 2016 Breach Barometer Report, 450 breach incidents occurred but information was only available for 380 breach incidents and, the breaches resulted in 27,314,647 affected patient records. Could decentralization solve the data security issues in healthcare? Is it possible to save data securely on the blockchain?
IBMs Institute for Business Value Blockchain interviewed 200 healthcare executives and found 16% of them are willing to deploy a commercial blockchain solution.
Though healthcare centers are adopting digital technologies, the patients medical records are currently stored in the centralized servers. It creates the attack surface for hackers. Accentures survey claims one in five employees working in the healthcare is willing to sell the sensitive medical data to the unauthorized parties.
Recently, Grindr dating app has disclosed users HIV status, sexuality, GPS position, and other personal details to third-parties. Sharing protected health information of patients without their consent can make them feel traumatized. Once the medical data of an individual is generated, data enrichment is done to make the data secure.
A persons identity can be replaced by a hash, an unique numerical value. Replacing the users identity with a hash would make it impossible for the attacker to decode the identity and protected health information (PHI). De-identifying the data will remove details including the patients name, address, social security number and financial information.
Medical data categorized in multiple formats like administrative claim record, clinical registries, biometric data, patient-reported data, or medical imaging should be stored in a structured way.
Organized data enables all healthcare providers to access data efficiently. Even more on https://www.leewayhertz.com/healthcare-blockchain-how-medical-records-secured-blockchain/, Health organizations store information on the blockchain: Healthcare vendors can save health records with the patients public key on the blockchain. Smart contracts get triggered to store the information provided by doctors, diagnostic centers, or health insurance companies on the blockchain.
Smart contracts ensure the enforcement of the business rules, compliance requirement, and the users will before the data is shared or retrieved.
Stakeholders involved in the patients treatment can consume the stored data with the patients consent.
Similarly, physicians in the healthcare centers could access relevant information such as the patients historical health records, age, and diagnostic reports.
Patients would have ownership of the data, i.e., they can decide what information to be shared with which entity using smart contracts.
Data Mining and AI in Healthcare Blockchain
Healthcare data nowadays is generated using different technologies like AI, IoT, or ML. The generated data can be used for multiple purposes, including disease prevention and cure, drug development, and clinical trials.
Heres what benefits could Blockchain bring to the Healthcare Industry
Efficiency:
Blockchain could turn the system highly efficient via real-time processing. It could remove the need for third-party companies, hence, eradicating the delays in accessing the data.
Permissioned and Permissionless Blockchain Development
A blockchain is a database with user-distributed validation. If youve ever heard of Bitcoin, youve seen one of blockchains biggest current applications. Through our workshop, youll develop a deep understanding of how blockchain works and why developers are becoming so interested in the technology. Well start by reviewing current blockchain-based models such as cryptocurrency, business order tracking, banking, and contract validation. By the end of our workshop, youll know how cryptocurrencies function, which emerging startups are currently getting funded in the blockchain scene, and why blockchain ledgers are considered the technology of the future.
If only time travel were possible then majority of people would wish to back in 2010 to buy bitcoins. A mere 10,000 rupees invested in bitcoins back then would have fetched you over mind boggling 330 crores by now! The world was stunned with such a phenomenal growth of bitcoins as a cryptocurrency. Keep reading this post as we will explain about bitcoin shortly. But how could such a currency grow stupendously on a global scale? The answer is Blockchain. Simple as it may sound there are huge mechanisms in place in making the technology work. The time spent by IBM global financing was reduced by 75% in solving financial disputes using Blockchain technology. Did you know that in international trade finance and remittances ICICI bank using Blockchain technology successfully executed transactions? Did you know SBI is using it in its KYC norms and smart projects? Did you know that Azure is already providing Blockchain as a service(BaaS)? And these are just three instances of the applications of Blockchain and the most obvious use case is bitcoin.
A blockchain is a decentralized digital ledger that saves transactions on thousands of computers around the globe. These are registered in a way that inhibits their subsequent modification. Blockchain technology increases the security and speeds up the exchange of information in a way that is cost-effective and more transparent. It also dispenses with third parties whose main role was to provide a trust and certification element in transactions (such as notaries and banks).
Today we are taking a look at an UAE blockchain developer software company, Leeway Hertz – https://www.leewayhertz.com/blockchain-developers-uae/
They provide various services including : Permissioned and Permissionless Blockchain Development. We have completed permissioned and permissionless blockchain development for startups and enterprises.
Development Portfolio example:
Blockchain-based Pharma Supply Chain Solution
To track the movement of drugs from the manufacturer to the end consumer at global locations. Blockchain technology helps to maintain trust between all parties by capturing records from every location to the chain, eliminating paperwork. Ensuring no counterfeit medications slips because of lack of traceability. Ability to identify stock locations in case of a medical recall.
We convert ideas into practical applications that are scalable and reliable. We recommend following a process to test quickly and get product maturity at early stages. With the experience of building 100+ digital platforms for clouds, apps, and blockchain companies, we have tailored our process to match the ongoing blockchain industry changes.
Blockchain Ideation
Brainstorm idea and business requirements
Identify any existing system migration to Distributed Ledger
Prioritize use cases in Fail fast, MVP & v2.0
Define off chain & on chain business entities
Define technical component
Roadmap of the product
Supporting the following platforms:
1. Ethereum – A decentralized public platform that runs dApps
2. Hyperledger – A provisioned private network meant to share data and process for enterprises
3. R3 – A solution for managing financial agreements
4. Stellar – Stellar is an open platform for building financial products that connect people everywhere.
5. EOS – EOS is a decentralized blockchain, which can process fast and free transactions.
6. Hashgraph – Fair, Fast and most secured acrylic graph DLT.
7. Corda – Corda is an open source blockchain platform for businesses.
8. Credits – Credits blockchain platform manages for creates financial services based on blockchain/ledger
9. NEO – NEO is a blockchain platform designed to build a scalable network of decentralized applications.