Blockchain: The Future of Secure Health Record Management

Abstract

The emerging sector of blockchain functions based on a digitally distributed ledger and consensus algorithm, eliminating the requirement for intermediaries and augmenting security. In healthcare, the idea of blockchain technology has the potential to be a significant benefit. Multiple stakeholders such as healthcare providers, patients, payers, research organizations, and supply chain participants necessitate interoperability, security, authenticity, transparency, and seamless transactions. By implementing a patient-centric approach, blockchain technology can transform healthcare data into an interoperable format among individuals by eliminating third-party involvement. This technology can be utilized to develop applications that aim to minimize systematic fraud by ensuring transparency at all stages. This study will aim to pinpoint the primary challenges encountered by healthcare stakeholders and examine how blockchain technology can overcome them.