How Hyperledger solutions are changing the healthcare sector?
The Healthcare sector is one of the most important and prioritized sectors across the globe. The governments are focused on improving the healthcare industry to make it more accessible and economical. The recent advancements in the Healthcare sector have generated a massive amount of data, thus making it more complex. With an increase in the generation of data, the concerns for data privacy and interoperability have also increased.
Blockchain technology has the potential to ensure data security along with high levels of interoperability. With both public and private Blockchain-based solutions, challenges in the Healthcare sector can be tackled hassle-free.
Several Blockchain-based platforms can improvise the overall functionality of Healthcare systems, but the main question here is- Which platform is the best for supporting the complexity of the Healthcare industry?
We have already talked a lot about how Blockchain technology is disrupting the healthcare industry. Here are a few reads, which you might want to go through before diving into the next level:
- Changing Healthcare insurance sector with Blockchain and smart contracts
- Blockchain Technology: A Sureshot Game Changer for Healthcare?
- From Coffee to Healthcare- How Blockchain is Helping the Industry Thrive?
In this article, we are going to discuss how Hyperledger, a Blockchain-based platform, can be the best choice for the Healthcare Industry.
Introduction to Hyperledger Fabric
One of the most significant developments of Blockchain is Hyperledger Fabric. Hyperledger Fabric is an open-source Blockchain-based platform used for developing smart contracts on the Blockchain network. To improve cross-industry Blockchain, this Blockchain-based platform is used for creating enterprise-grade distributed ledger architecture and code-base.
The role of Blockchain in the Healthcare sector is not just limited to the management of healthcare data, but the main idea behind this digital ledger technology is that the integrity of data is maintained, and ownership lies with the owner of data rather than healthcare institutions. Working on the same model, Hyperledger Fabric is designed to meet enterprise-level requirements such as performance, identity verification, private and confidential transactions.
The following concepts and functions would provide a better overview of the technology:
1. Peers are the nodes in an enterprise, responsible for sorting, maintaining, and committing the consensus mechanism.
2. Chaincode, which is equal to smart contracts based on the ledger.
3. Endorsement policy, which is responsible for peer nodes participating in the voting part of the mechanism.
4. Channel is a private sub-network in the Hyperledger Fabric which is used to isolate different apps and allow a separate transaction ledger for a particular group of organizations.
5. An organization that represents the entities such as enterprises and institutions in the Fabric network.
6. A distributed ledger that includes a Blockchain and world state. World state is a series of ordered transactions packed in a Blockchain that is constantly updated to record the changes in data.
7. Membership Service Provider (MSP) is majorly responsible for managing the certificates and membership.
The Role of Hyperledger Fabric in the Healthcare Industry
Through the years 2020 & 2021, people were overwhelmed with all the Healthcare news circulating news channels. As COVID-19 claimed the lives of several people, all we were talking about was the pitfalls in healthcare systems and architecture while completely ignoring the need for secure and authentic data systems in the healthcare industry.
This Blockchain-based open-source platform is the right choice for enterprises where the creation and management of permissioned networks is a priority. The permissioned networks offer better scalability, transparency, and performance. Apart from these, Hyperledger also has several benefits such as:
1. Hyperledger considers the developers’ need for a complete toolset that can be implemented quickly to meet the privacy and security standards.
2. This Blockchain open-source platform has comprehensive control over the smart contracts and allows the users to run it in several computer languages such as Node.JS, JavaScript, and so on.
3. It has a transaction speed of up to 3000 transactions per second, more than Bitcoin & Ethereum.
4. Hyperledger doesn’t use cryptocurrency as a motivator and provides high transaction completion rates and a cheap transaction cost.
5. Hyperledger Fabric is one of the most comprehensive and accessible platforms in comparison to other Blockchain frameworks.
In the next section where use-cases of Hyperledger are explained, we will also mention the project for which it is applied to provide you an educated assumption on how these platforms are disrupting the healthcare sector. So, let’s move forward and have a look at the same.
Use-cases of Hyperledger Fabric in Healthcare
One of the obvious applications of Hyperledger is Healthcare. Hyperledger is an umbrella project, consisting of several projects, libraries, tools, and frameworks for enterprise-grade Blockchain applications. From Healthcare to Education, Hyperledger has several use-cases in all the sectors. Here are some of the use-cases where Hyperledger is being integrated with the Healthcare industry:
1. MyClinic.com
MyClinic is a Hyperledger solution devised by Medicalchaim, which was one of the first healthcare enterprises to join the Hyperledger ecosystem. The main aim behind this collaboration was the goal to provide patients with complete access to their healthcare data, to view as well as share.
They devised a native token, MedToken, to allow the patients to schedule appointments with doctors, and also access their medical results. MyClinic.com, which was medicalchaim’s first application, facilitates a better relationship between doctors and patients and is also accessible to international patients.
2. KitChain
KitChain is a robust Blockchain-based healthcare solution for pharmaceutical supply chains. The application of this Blockchain-based solution moves beyond creating a security and trust framework and building an immutable record for shipment and event tracking in the supply chain.
This collaborative model is in use with multiple industry-leading pharma companies such as Pfizer, UPS, and GSK to create a common supply chain model. Product tracking, reduced size burden, immutable records, and collaborative models are some of the features of this solution.
3. Verified.me
Verified.me is a new and enhanced way of helping patients verify their digital identity. This is a Hyperledger-healthcare solution network for digital identification that helps the users to regulate information access and stay on top of it. Many reputed healthcare providers such as Dynacare have also joined this network.
This solution allows you to build a network where the information is shared with selected parties and also avoids unnecessary oversharing and keeps the information in safe hands.
4. Meloddy
Meloddy is a drug discovery project that is built to scale up machine learning techniques. Through the use of Amazon Web Service technologies, which allows only non-sensitive data to be transmitted while allowing only non-sensitive data to be transmitted.
Hyperledger Fabric here plays the role of providing traceability for operations that ensures the distribution of tasks in a safe & secure manner.
5. ClinicAppChain
The following chart depicts the working of ClinicAppChain: A low-cost Blockchain-hyperledger based healthcare solution. ClinicAppChain is a cross-platform Blockchain prototype that provides healthcare stakeholders such as hospitals, researchers, pharma, and insurance companies with crypto-currencies.
ClinicChain was developed to build a state-of-art transparent, auditable, and interactive Blockchain Hyperledger healthcare solution. Aligning with the Hyperledger fabric features, this robust solution is based on the parameters such as authentication, confidentiality, and permissioned data sharing.
Final Words
So, this brings us to the end of our discussion on Hyperledger based healthcare solutions. We all do understand that Blockchain is a lot more than cryptocurrency. Coin-based models that offer incentives are a great initiative to bring people to participate in the Blockchain disruption, but many businesses are moving above and beyond cryptocurrencies.
Hyperledger, due to the benefits offered, can be a perfect solution for your enterprise’s challenges. If you are looking for Hyperledger solutions, nobody does it better than Debut Infotech. Integrate this robust technology with scalable solutions developed by our team of talented Blockchain developers.
