By VipulRana

As part of citizen science effort of Sukant Khurana

Blockchain being a decentralized system it gives us one of the greatest advantages it eliminates the intermediaries. It reduces the middle commission. It also saves the time and conflict. Blockchain does have its issues, but comparatively, they provide faster, cheaper, and more secure than the existing system. That’s the reason the banks and governments are starting to adopt the technology.

Smart Contracts help you to do transactions of money and property without the intervention of the middleman. For example, let us assume a scenario you need to go to a government body to generate a document related to any property or anything else. Smart Contracts changes that you just need to pay bitcoin (i.e. ledger) and the document get in your account. The smart contract automatically enforces the obligation but the rules and the penalties too.

A problem in Healthcare Sector

The process for claiming insurances goes through a lengthy process. It takes a lot of time and a lot of paper works. It unnecessarily takes time.

Solution using Smart Contract

The health record should be encoded and kept in blockchain with the key which will only grant access to the authorized individuals. Which makes the data more secure. The receipts of the medical treatment can be encoded and stored in the blockchain in a similar way as the user data. That will be automatically forwarded to the insurance company as a proof. This will make the task simpler by reducing the process and secure in the means if the data. Not only that it could also be used in the healthcare sector for many other purposes such as keeping records of the supplies of the medicine, the patient’s data, and many other things.

References

https://blockgeeks.com/guides/smart-contracts/

https://blockgeeks.com/guides/blockchain-applications/