Securing the Healthcare Supply Chain Using Blockchain-Enabled Smart Contracts

Abstract

The blockchain technology is an innovative tool that has shown its effectiveness in many sectors such as health-care and many are likely to experience a revolutionary transformation. In healthcare, the blockchain functions like a distributed network which is constantly updated with records ensuring that you cannot eliminate or alter them without the consensus to do so. In other words, blockchain-based smart contracts will enable clients to do transactions without having to rely on intermediaries and thus it will be more reliable. Smart contracts regulate and constitute numerous activity and dealings of stakeholders, automating processes, augmenting visibility, maximizing productivity, and standing against the clock. Healthcare supply chains may be exploited by blockchain technology that addresses pain points such as connectivity, traceability, as well as fighting counterfeit medicines. The purpose of our analysis was to advance traceability between the healthcare supply chain elements, such as the transportation of pharmaceuticals or medical equipment. And for its more practical implementation we have worked on minimizing the cost of smart contracts being deployed on the blockchain for the health care logistic system.