Initially, blockchain technology was designed primarily for implementation in the areas of economics and cryptocurrencies, but today its utility is expanding in a number of other areas, including the healthcare sector. Let’s explore how IVIRSE applies blockchain technology in the DataHub Marketplace.
Introduction
Blockchain is a new technology that is being used across many industries, including healthcare, to provide creative solutions. The healthcare system uses a blockchain network to store and communicate with patient spitals, diagnostic labs, pharmacy companies, and doctors. In the sphere of medicine, blockchain applications can precisely identify serious errors, including deadly ones (Haleem, 2021). In the healthcare sector, it can enhance the efficiency, security, and transparency of sharing medical data. Medical institutions such as IVIRSE can acquire insight and improve the analysis of patient information with the use of this technology.
Blockchain offers a secure, decentralized database that may function without a supervisor or central authority. Blockchain creates a growing, continuous list of ordered records called blocks to create a digital ledger on a distributed, peer-to-peer network. The network automatically verifies a cryptographically signed block containing each transaction (Angraal, 2017). Besides, the interest in blockchain as a platform to enhance the validity and openness of healthcare data is increasing through a variety of use cases, such as retaining access rights in electronic health records (EHRs) and speeding up claims processing.
In this article, we explore the basics of blockchain technology and how IVIRSE is applying it in the DataHub Marketplace.
Overview of Blockchain Technology
Blockchain is a data-storage network that is decentralized. It is a great technology tool for keeping system-wide private data safe. Important data can be exchanged using this technology while maintaining its confidentiality and security. It is the ideal solution for securely storing all relevant papers in one place. With a single patient database, blockchain also expedites the search for applicants who meet specific trial criteria. The Blockchain is a decentralized peer-to-peer (P2P) network of nodes, or individual computers, that maintains, saves, and records transaction or historical data (Varshney, 2021). Blockchain is well known for its immutability and security. Blockchain is based on three fundamental concepts: blocks, nodes, and miners. No data on the blockchain is stored in a single place. Instead, the Blockchain is distributed and copied by a network of computers. Every machine connected to the internet updates its blockchain to reflect the addition of a new block.
Blockchain has several uses and functions in the healthcare industry. By facilitating the safe transfer of patient medical records, controlling the drug supply chain, and facilitating the safe transfer of patient medical records, ledger technology assists healthcare researchers in deciphering genetic code. Medical records protection, diverse genome management, electronic data management, interoperability, digitalized tracking, issue outbreak, etc. are a few of the outstanding and technically derived aspects used to develop and implement Blockchain technology.
Blockchain in Electronic Health Records
Electronic health records are being used in most healthcare settings to store and share health records instead of the traditional paper-based method. EHRs must be exchanged between different parties, and users should also be given privileges to manage access to their records. In addition to the basic standards of confidentiality, confidentiality, and integrity of information, the need for interoperability and control by users to access their personal data is also addressed. During the Covid-19 pandemic, various apps, tools, and websites have been launched for record keeping. In addition, many health-related personal records need to be shared between different parties so that early detection, contact tracing, tracking, and future prediction require accurate and reliable data. However, users are still hesitant to provide their personal information due to privacy concerns as well as social stigma. Blockchain technology has evolved as a powerful technology that can provide immutability properties, security, and user access to stored information, and provides distributed storage.
Blockchain can modernize the exchange of electronic health records by providing a secure approach to data exchange in the healthcare sector, and by protecting these data through linkage. distributed peer. A key advantage of using blockchain technology in healthcare is that it can include record interoperability, improved access to patient information, and system monitoring throughout the entire lifecycle of the patient. devices in the blockchain. Blockchain can be used together with other technologies like the Internet of Things (IoT) and Cloud Computing for better EHR solutions. Blockchain will handle the features of security, reliability, immutability, and interoperability (Shahnaz, 2019). With blockchain, access to a patient’s health history is critical to recommending drugs, and it is easy to radically improve the framework of medical care services.
Blockchain in clinical research
In modern clinical research, data reproducibility, data sharing, privacy concerns, and patient enrollment in clinical trials are huge medical challenges. Blockchain technology emerges as a key to solving these problems.
The core principle of Blockchain is that any service that relies on trusted third parties can be built in a transparent, decentralized, and secure way (Benchoufi & Ravaud, 2017). As a result, users have a high degree of control and autonomy and trust in the data and its integrity. Blockchain allows historical data retrieval and data inviolability for the entire document flow in a clinical trial. Through smart contracts, blockchain allows us to automate the clinical trial process securely. At the same time, blockchain also ensures granular control of its data, security, and shareable parameters for a single patient or group of patients or stakeholders in a clinical trial.
Blockchain in Biomedical
Applying blockchain technology in biomedical brings a lot of benefits for IVIRSE. The most important benefit is decentralized management. Blockchain is suitable for applications where independent biomedical/healthcare stakeholders (e.g. hospitals, providers, patients, and payers) want to collaborate with each other without conceding authority control for an intermediary to act as a manager (Hussein, 2019). Another benefit is that the audit trail is immutable. Blockchain only supports creating and reading functions (i.e. it is very difficult to change data or records). Thus, blockchain is suitable as an immutable ledger to record important information.
The third advantage of blockchain is data provenance. On the blockchain, ownership can only be changed by the owner, according to cryptographic protocols (Kuo, Kim & Ohno-Machado, 2017). Therefore, blockchain is needed for use in the management of crucial digital assets. The fourth benefit is robustness and usability. Each node in the blockchain has a copy of the entire data record history. Therefore, blockchain is useful when it comes to the preservation and availability, continuous provision of records (e.g. electronic health records of users).
Benefits of Applying Blockchain in IVIRSE DataHub Marketplace
By implementing blockchain technology, IVIRSE DataHub Marketplace brings plenty of benefits. Firstly, it ensures digital assets are properly stored, data cannot be lost, and versions are kept up to date. It also makes the process of searching and accessing digital assets simpler by tagging digital assets. Large data files can be processed quickly, with unlimited capacity expansion (Drosatos & Kaldoudi, 2019). Some digital asset management systems make it simple for users to change the format of content. Distributing content across digital marketing channels through a digital asset management system is very efficient and cost-effective. This platform also helps save time and cost of managing and retrieving digital assets for system users.
The number of digital assets increasing rapidly leads to the need for management to be able to store, organize, search, and share data efficiently. This management process is called “Digital Asset Management” — DAM and with current needs, this process must be more and more optimized, safer, and more economical. Blockchain will be the best technology to implement this process (Zhang, 2018). Blockchain can meet the highest security standard for a digital asset management system, ensuring that digital assets will never be deleted, used, or changed by an external agent while also simplifying the asset access process. In addition, smart contracts in Blockchain will solve the problems of copyright owners as well as the sale and exchange of assets (Prokofieva & Miah, 2019).
Conclusion
Blockchain’s potential has wide-ranging effects on all parties involved in the healthcare ecosystem including IVIRSE DataHub Marketplace. Using this technology provides the ability to connect disjointed systems, produce insights, and improve the evaluation of care’s worth. A statewide blockchain network for electronic medical records could, in the long run, increase productivity and boost patient health outcomes.
References
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