Blockchain use in healthcare: exploring opportunities and challenges

Abstract

In the grand scope of things, the blockchain technology is quite young, thus making it subject to future developments of new use cases, meanwhile it has already proven itself as a viable alternative to solve existing and upcoming business challenges. One key industry that is starting to implement the blockchain as a security and validation method is the healthcare sector, where a decentralized ledger can be used to address critical conundrums related to remote healthcare access, emergency protocols and data integrity. This research paper dives into the existing challenges that the medical space is exposed to and the intricate use cases of this technology in drug production, validation and prescription as well as in patient data privacy. The blockchain as well as any other working mechanisms has its advantages and drawbacks, in this research paper we will explore the known vulnerabilities and methods to mitigate them ensuring a stable and secure platform to be used in the healthcare industry, that creates a trusted and free of fraud solution for medical professionals to utilize.