California, 10/17/2022 / SubmitMyPR /
Blockchain became popular in 2008 to serve as a public transaction protocol for the cryptocurrency Bitcoin. However, as the world quickly found out, the fundamental technology underlying Bitcoin can be used for other things. It is a secure and highly decentralized network. But what is Blockchain? It is a peer-to-peer network of nodes or blocks linked by cryptography that track transactions in a shared database.
Originally created to facilitate cryptocurrency transactions, blockchain has expanded beyond bitcoin trading. It has now been integrated into government services. Blockchain is already widely used at the administrative level for notarization and maintenance digital identification systems, issuance of certificates and educational qualifications as well as trustworthy data exchange. However, it can do much more. By reducing fraud, waste, and abuse in government services and improving government trust and accountability, this technology can help with data governance and operations in sectors as diverse as foreign aid, smart contracts, law enforcement, central banking, and public health.
The latter, healthcare, has much to gain from the integration of blockchain technology. One notable initiative already working towards this is Coral Health in New York. Coral Health connects doctors, labs and health authorities via blockchain ledgers. In addition, the company uses smart contracts to streamline administrative procedures and ensure the accuracy of patient records and treatment plans. Coral Health’s use of blockchain to accelerate the healthcare process leads to faster, safer treatment and better healthcare outcomes. Improving provider databases, which are a pain point for both patients and doctors as they are often inaccurate and outdated, will be another key selling point of the project.
Integration of Smart Contracts into the systems that…
