Abstract

A DECENTRALIZED LEDGER TECHNOLOGY APPLICATION IN HEALTHCARE SECTOR – BLOCKCHAIN

V. Bala Aakash*, S. Bhuvaneswari and D. Dharshini

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Abstract

Blockchain is a secured form of a public or private ledger through which transactions occur. It is the latest trending technology that is being used in Bitcoin. Such cryptocurrencies are employed by blockchain. Leading pharmaceutical companies like International Business Machines (IBM) show significant interest in peer-to-peer network technology. Such a digitalized peer-to-peer network is attained by blockchain. This system provides secured and enormous storage for the data. The distributed ledger mechanism provides an effortless transaction and is executed in a consensus manner. It also provides an encrypted form of sharing of records to multiple nodes. This review concentrates on the possible aspects of the healthcare sector where blockchain is pervasively implemented. It is a patient-centric, traceable, scalable and trustworthy application. Thereby significance in the healthcare field is explained that helps as a paradigm for future researchers to understand blockchain technology.

Keywords: Blockchain, decentralized, consensus, supply, clinical trial, neuroscience.