Blockchain technology powers some of the major cryptocurrencies such as Bitcoin, Litecoin and Ethereum. For Bitcoin, Blockchain is its core technology. All financial transactions that occur in bitcoin are stored in blocks of the Blockchain. So, one can say that Blockchain is a particular type of database. Sometimes it is also referred to as distributed ledger technology (DLT).
Blockchain technology is a framework that stores transactional records, otherwise called the block, of the public in a few databases, known as the “chain,” in a network connected through peer-2-peer nodes. Commonly, this storage alluded to as a ‘digital ledger.’
The digital signature approves each transaction in this ledger of the proprietor, which authenticates the transaction and protects it from altering. Henceforth, the data the digital ledger contains is exceptionally secure.
This technology is adopted in verticals such as finance, banking, healthcare, insurance and government services.
Blockchain and the Healthcare System
In the healthcare industry, the patients will be an important one to look through and also the need to keep the right information of each patient’s medical records safe and secure. Because the security and privacy of health data are very important. It can help to trach the batch and serial numbers of prescription drugs. Nowadays, some of the hospitals have started to record the patient’s data with the latest ways of handling the data and they are using blockchain technology to store each patient’s record confidential. With the help of access key provided to each patient can help them to access their medical records, therefore keeping the control of who can view the data. Patient’s diagnoses report can also be stored so that they can easily track the history of the patient’s health conditions.