Blockchain technology can be of major advantage to the health sector. The healthcare sector has been impacted over the last 30 years by the emergence of central data systems, health data legislation, and the requirement to work with various EMR service providers to digitize medical data. Most archives that process information held by healthcare providers, pharmaceutical firms, and other health and medical ecosystem stakeholders do not engage with each other. The lack of interaction of most programs with longitudinal health data at both the client (patient) and the public (public) explains often perceived systems barriers. For more information, read here.
Updating of Data
Add or update data requires network consensus to make the data almost unchangeable. This ensures that a block cannot be altered or deleted when it is written into the chain. Transaction documents are unchanged as the previous block is connected to each data block by including the previous block’s unique hash, which derives from the content of the block mathematically.
If a bad actor changes the block’s content, the block’s hash will change, and its connection to the subsequent block will then split. The bad agent will need to replenish the next block and all following blocks to cover their tracks. However, because there are many copies of a ledger, every version of the leader in each location must be simultaneously changed by the bad actor, which is virtually impossible, particularly as networks grow wide and collusion risk is negligible.
A new record can be added with correct data that replaces the original, or a record that marks the previous record as removed can be added to fix or erase chain records. The original documents previously added remain, however. This is a purposeful feature that enables all parties in the consortium to verify and build confidence. Since this technique is not a panacea for data quality and accuracy, we suggest reviewing data storage considerations for a summary of what is to be stored.
A Decentralized Solution
The technology is not a centrally managed solution but a decentralized or distributed solution. It is usually a peer-to-peer network – where players communicate directly, and transactions across the board are exchanged – so there is no loss. The technology is available on various platforms and protocols with ideas that may add complexities or modifications to current business models for healthcare.
Although the technology does not inherently open up access to full access to any democratization levels — or access to data for the average consumer, it can resolve current needs and unfold new market, administrative and clinical opportunities that have not been previously considered.
Focused on Transaction
This technology relies on consensus on transaction validity. While transactions may be broadly interpreted, not all health activities are transaction-based, and not all health transactions may be technologically relevant. Blockchain provides the capacity for intelligent contracts, digital machine code for applications, features, or transactions that automates execution. The technology also allows for tokens to generate value for transactions. This tokenization is often carried out in the settings of cryptocurrency.
Single Source
The technology’s primary advantage is its ability to provide those participating in the network a single source of reality. As all nodes have to reach an agreement, all participants agree on the existence of the data in the network. Its capacity to resolve conflicts and provide an overview of all network activities ensures unique transparency that removes the need for intermediaries. It is also suitable for industries that regularly audit their data due to its transparency and immutability.
Lacking Privacy
Blockchains are not ideal for storing private information because of their openness, particularly those publicly accessible. When evaluating technology for such transactions, data protection requirements for safe health information (PHI) are important for blockchain use in health care.
The technology resists certain forms of attacks but is by no means completely secure. Since they are just code, they are still subject to null-day attacks and technical glitches. Moreover, people almost always have access to technology, and it is sensitive to one of the biggest threats in IT, social engineering. This makes the technology as vigilant as any other network or software, especially blockchain in healthcare, for protection.
Fraud
With its consensus process and decentralized structures protecting against hacking or coercion, Ethereum eliminates the risk of data fraud. Proof of existence and authenticity assurance on the blockchain can be given to documents. Most nodes are then agreed to accept new transactions and avoid data changes. This safeguards the integrity of the data, promotes confident test results, and supports research group collaboration.
