How smart contracts can revamp the healthcare industry
We all know how the healthcare sector is infested with a lot of issues like loads of unwanted costs, bureaucracy, and thousands of middlemen. It is no doubt that the healthcare industry is not far from its disruption days. In fact, if e-commerce companies like Amazon and Flipkart start entering the drug prescription market, it will prove to be detrimental for all traditional brick-and-mortar pharmacy shops. Actually, with new technologies like blockchain and smart contracts, the healthcare industry can be revolutionized with better efficiency and transparency in all processes.
Some of the ways through which smart contracts can help the healthcare sector are as follows:
- Patients can be given full control over their data that will be encrypted using cryptographic techniques, for instance, electronic health records.
- Transparency and integrity in tracking the entire trail of drug supply.
- Watermarking of data, making it easier to trace back to the sources of data leaks.
- Better trust and privacy guaranteeing that data will not be tampered with.
Blockchain App Factory is one of the leading blockchain and cryptocurrency development companies with expert teams of experienced full-stack blockchain developers. We can guide you through the entire process of smart contract development and ensure that you make your mark in the crypto market helping millions in the healthcare unit.