An Evaluation of Opportunities and Challenges of Blockchain Technology in Healthcare

In a globalised world, patients may need to manage and track their health records with healthcare professionals anywhere and anytime with high data privacy and security. Blockchain technology (BcT) provides these necessities. This study aims to provide a general overview of the usability of BcT in healthcare applications. BcT has been adopted in many sectors, including healthcare. However, there is no unified record format among hospitals for tracking patients' medical histories. In BcT, recorded data cannot be modified without affecting the chain hash code. The blockchain creates a secure and public digital ledger. BcT can also ensure accurate and timely financial transactions by automating payment processes among providers, insurers, and patients through smart contracts. In conclusion, BcT plays a key role in the healthcare sector. It enables safer, cheaper, more dependable, and more effective pharmacotherapy by providing data security, traceability, and immutability.