Why Blockchain Technology Is Important for Healthcare Professionals

Abstract

Blockchain technology is a system of creating an immutable, secure, distributed database of transactions. Blockchains were initially created to provide a distributed ledger of financial transactions that did not rely upon a central bank, credit company, or other financial institution. The technological breakthrough, however, has been extended to transactions involving legal matters, medical records, insurance billing, and smart contracts. One primary way that blockchain technology is important to healthcare professionals in that it can revolutionize medical database interoperability. This greater interoperability can help improve access to medical records, imaging archives, prescription databases. Given that a patient’s medical history is a primary cornerstone of good medicine, blockchain technology has the potential to dramatically improve medical care.