Blockchain Technology May Transform The Future Of Healthcare

Blockchain Technology May Transform The Future Of Healthcare.
Blockchain technology has truly revolutionized the vision for the future of information and data.
At the most fundamental level, blockchain technology enables decentralization of data; that is, it allows for the control of information to move away from a centralized entity (e.g.
an individual or organization) to a distributed network.
By utilizing a distributed network to control information, society can establish better transparency, trust, and fidelity in that data.
In an early whitepaper released by the University of California Berkeley’s Sutardja Center for Entrepreneurship & Technology, the authors explain that “blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties.
Each transaction in the public ledger is verified by consensus of a majority of the participants in the system.
And, once entered, information can never be erased.” The most popular utilization of blockchain thus far has been the famed cryptocurrency Bitcoin, which is a decentralized version of digital currency.