big data in pharma

Initially developed for the purposes of cryptocurrencies, blockchain technology is conquering many sectors due to its properties. That’s the case with the healthcare industry. How can you use the potential of blockchain in this sector? Take a look at some interesting ideas.

It’s not uncommon that technologies developed to serve alternative purposes get absorbed by the market, becoming its integral element. That’s what happened to the blockchain. Developed as a technology that would handle crypto data, it quickly gained recognition among different sectors. The properties of the blockchain ecosystem make it notably more secure and flexible than the traditional databases, vulnerable to leaks and cyberattacks. That’s why, today, the blockchain developers are among the most sought professionals worldwide.

First, the blockchain has conquered modern fintech, making banking services more effective than ever. With its implementation in app and software development, financial institutions and startups have become capable of processing transactions much faster while maintaining the highest level of security. Blockchain protocols keep the network decentralized which makes it basically impossible to steal data.

What is Blockchain, and why is it so revolutionary?

In a nutshell, Blockchain is a distributed ledger that stores data structured in blocks that form a chain. Once the storage capacity of one block is reached, the data goes to another block linked to the previous one. 

Such a structure makes the data much more secure than in the traditional database. Decentralized, distributed, and encrypted, the information is not as vulnerable to cyber attacks as in the case of traditional storage. The biggest platform powering such decentralized processes and smart contracts is Ethereum Blockchain.

The blockchain technologies in healthcare

Even though it’s the fintech industry that has taken the most advantage of blockchain development so far, there are others that follow upon its heels. Healthcare could be one of the examples. While in the banking industry, the usage of a blockchain platform is mainly motivated by the performance boost, healthcare puts security first. How can blockchain be used in mobile and web development for healthcare?

For the healthcare units, safe data storage is one of the essential issues. The vulnerable personal data, including the patient’s medical records, require the highest level of protection. And Blockchain network, due to its decentralized and distributed character, provides maximum data security. Using it, they can ensure the patients that their records are safely stored and unchangeable. By using Blockchain development services for their databases, the healthcare units can also facilitate safe records exchange.

Are you searching for blockchain development companies that could support you in the Blockchain adoption? Try 10Clouds – a software house specialized in Blockchain app development with insight in healthcare.