Blockchain development in health 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.

Data stored on blockchain is like your cryptocurrency such as bitcoin saved in the crypto wallet. Though the users wallet can be identified with a public key, only a secret private key can help anyone read or understand the stored data. Any healthcare service provider would require patient consent or authorization to access PHI. If a patient denies sharing the medical data, no healthcare provider could get access to the records stored on the blockchain.

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.

Smart contracts will ensure a transparent, conflict-free exchange of the information. In case, the user denies to exchange the information; no one could access the patients health records.

Blockchain healthcare solution could also enable healthcare research companies to use health records for research purposes without affecting the patients privacy. Read further to understand how

Data Mining and AI in Healthcare Blockchain

But the centralized approach for maintaining the data could hinder the patients privacy. Blockchain could be leveraged to bring trust in the clinical trials and medical research process.

As discussed above, the blockchain healthcare platform could use de-identification for hiding the patients identity. So, medical research companies could utilize the non-identifiable records to carry out the research activities.

Heres what benefits could Blockchain bring to the Healthcare Industry

Control over the data:
Anyone willing to access the health records would require the patients public key. Patients could seamlessly control who should access what data.
Since the data is saved in encrypted form, it remains unreadable to the hackers.

Blockchain development UAE

The blockchain is an undeniably ingenious invention the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?

By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, (Buy Bitcoin) the tech community is now finding other potential uses for the technology.

Over the past decade, the Internet and software have made the transaction of money practical. You can easily shop online and trade securities. But transferred financial assets go through correspondent banks, archaic systems linking clearing houses, and central depositories. Sometimes it takes many days for the funds to reach an account or purse to settle. Not only are these systems slow, but they are expensive and unsafe. Blockchain development is addressing this problem by restructuring fundamental business transactions, including money market transactions, and introducing new forms of digital interaction.

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 – blockchain developers UAE

They provide various services including : Blockchain PoC, We have completed more than 5 Blockchain PoCs for Startups and Enterprises.

Development Portfolio example:

Freight Tracking

Freight tracking solution enables shippers, logistics companies, brokers and carriers to track shipments with increased accuracy in real time. The platform handles data exchange and transactions securely over the blockchain platform, ensuring shipments without delays and frauds. The platform can handle millions of events without friction and track shipments end-to-end.

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.

Visual & Technical Design

Create User interface design for each software component
Design technical Architecture
Identify the level of focus on scalability and Security
Document technical GDPR compliance requirement
Create sprints and delivery milestones

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.