A Model and Algorithm for a Car Insurance System Using Machine Learning and Distributed Ledger Technology

Abstract

Blockchain technology has significant applications in medicine, particularly in ensuring the confidentiality of medical records and enhancing the transparency of healthcare data management. Rapid digitalization in healthcare presents challenges related to interoperability and privacy, which traditional centralized systems struggle to address. Blockchain, as immutable and distributed ledger technology initially designed for cryptocurrencies, offers a solution by securing and decentralizing healthcare data management. The NAIBHSC framework exemplifies this integration, utilizing blockchain alongside IoT, cloud computing, and AI to enhance the supply chain management of healthcare products and electronic health records. Additionally, its implementation in car insurance systems showcases automated damage identification and secure premium transactions. The study concludes that by combining blockchain with modern technologies, solutions can be developed that enhance security, transparency, and efficiency across various domains, ultimately fostering trust and innovation within critical industries.