Abstract
#Blockchain is the distributed #decentralized ledger that distrusting
parties can use to share information and consider as single source of
truth. Though finance industry was an early adopter of Blockchain, now
it has created a sensation in healthcare and many other verticals alike.
In this paper, we present application of Blockchain in #healthcare that
can bring revolution change in the existing system and change the way
the health industry has been working. Blockchain technology has brought the biggest disruption to almost
all industries in 21st century. As per a report by International Data
Corporation (IDC), worldwide spending in this #emerging technology is
growing at an unbelievable rate of 81.2% and would reach $9.7 Billion by
2021 [1]. Blockchain though started with and often associated with
#crypto currencies, yet has touched almost every industry and in the
process has transform the way we used to work before. Blockchain is a
publicly or privately available distributed digital ledger that mutually
untrusting parties can use for business transactions and can refer to
as the single source of truth. Unlike traditional databases, Blockchain
ledger works in append-only mode. Also for its decentralized nature it
has no single point of failure. Thus it's a revolutionary new way for
complex business transactions between organizations resulting in
real-time settlements, in a process cutting down on time, cost and
efforts by middlemen and thus improving transparency and trust of the
overall ecosystem. When it comes to healthcare, Blockchain is projected
to be $176.8 million in 2018, and is estimated to grow over $5.61
billion by the end of 2025 [2].
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From Womb to Graveyard: Blockchain in #Healthcare by Rajul Rastogi in BJSTR
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