ABSTRACT
Blockchain technology has shown tremendous attention towards a plethora of maximum applications ranging from data management, financial services, IoT, food security, and applications related to brain research and food science related to the healthcare industry. There is significant progress that is being shown by using the application of the blockchain to deliver it with the safety of healthcare data management. The main medical challenges that are associated with contemporary clinical research are data sharing, reproducibility, personal data privacy concerns, and patient enrollment. A new type of technology that has overcome the challenge and shown significant progress for the clinical research community is blockchain. Blockchain helps to fulfill the decentralization aim towards the Internet. The basic principle of blockchain is that its services depend on understanding third parties that can help form decentralized, transparent, and secure for the top level of blockchain. Because of this, the only user has a greater degree of control for autonomy and trust related to data and its integrity. Blockchain helps to reach a particular level in the data for the complete document in a clinical trial. Moreover, it helps prevent posterity reconstruction and fulfills it securely for a clinical trial called a smart contract. At the given time, the technology also provides fine-grain control to the data, its share parameters, clinical trial stakeholders, and security. The ability to use the type of blockchain technology used in hospitals has proved to be tested among several pilots project worldwide. Personal life lock data currently helps to capture through medical IoT device and personal health records. Real-time AI helps provide feedback to the given users, including physician pharmaceutical research patients and payers. The drug traceability system is essential for opening pharmaceutical companies’ businesses to discover the drugs and their chain. The oldest centralized server-client technological solutions satisfy bad performance among related authenticity, flexibility, privacy, and system resilience. Drug traceability system should help determine the flow of the drug’s transaction by different stakeholders and their chains; it also helps provide complete information about stakeholders and patients. Excessive billing or inaccurate billing for non-performing services leads to higher healthcare costs by 5%–10%, which is a fraud. Linking blockchain-based systems to medical billing can be a realistic solution in cases of fraud. Automating the claims and payment processing functions and using blockchain systems will eliminate the need for intermediaries. This will result in lower administrative costs and may also help reduce the time for payers.
