<aside> 💡 Written By: Ishika Mukerji

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What is Blockchain ?

Blockchain is an up and coming technology that will disrupt the current tech and consumer markets. A blockchain is essentially a digital ledger of transactions that is built on top of netowrks that span and are distributed across all computer systems. The blockchain consists of blocks, each transaction event represents a block and each new block is added to the previous for each participant of the blockchain. This essentially creates a public chain record of events. The catch with blockchain is that even though there is a public record of events, the details and information of each event is encrypted. Because blockchain creates a public chain of records, it will be evident if someone attempts to change the details of a single block. If hackers wanted to corrupt a blockchain system, they would have to change every block in the chain, across all of the distributed versions of the chain. This type of system creates a framework without any need of intermediaries. Blockchain-based applications will remove the cost and friction that exists with middle men services due to its peer to peer framework. Everything is handled in public.

Behind the Scenes of the Blockchain: Introduction of Zero Knowledge Proofs

Zero Knowledge proofs are the backbone of what creates the privacy of information on blockchain. This protocol provides necessary information without revealing detailed private information thats usually needed to come to a conclusion. For example: If we want to see who has more money between Anna and Harry, zero knowledge proofs would tell us who has more money without revealing the amounts each individual has.

The protocol would allow transport of information that can be aggregated accordingly to the right receiver. This increases verification, privacy, security and accuracy of information. On top of this, smart contracts can be built in order to utilize information for its specific purpose. A smart contract is essentially agreement between two parties without worrying about trust because the agreement is based on a contracted formula. The formula would ensure the purpose for which the information would be used, and for no other purpose.

How does this benefit healthcare?

Blockchain will revolutionize the dynamic between patients and their healthcare providers. This technology will allow rapid exchanges amongst medical records and patient data with increased security and privacy. Health care facilities are known to have large amount of friction with storing, updating, transporting, and handling patient privacy.

Here are few possibilities blockchain will introduce:

• Hospital and patients would no longer need to spend time retrieving patient information through self filled forms in order for the patient to be checked
• Pharmacists would be able to accurately verify that the Patient is prescribed a certain medicine
• Patients would be able to verify that their diagnosis is accurate
• Patients would be able to verify a doctors background, and make sure they are comfortable trusting the doctor

The biggest application to battle this is the implementation of a blockchain-based system of electronic health records. This enables healthcare providers to take a holistic view of patient information and produce better health outcomes along with allowing patients to experience an increased personalized health experience by having control over their own medical data.

Having control over your own medical data is an umbrella term:

There are cons of being able to interpret your own medical data, in order to battle this blockchain can provide the following: You can have access to your medical data in a zero knowledge proof, you are have possession of the data but you won't be able to interpret the data. You would provide your data to your desired medical provider and with the use of a smart contract framework in which they would be able to aggregate your medical data from the database.