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 tr