Abstract
Abstract The promise of blockchain extends into healthcare allowing a transformation of our current system and its use of information technology. The current use of information technology in healthcare can be advanced with blockchain. The fundamental values that blockchain will bring include decentralization due to its distributed ledger technology, interoperability and increased security and immutability. These benefits enable a healthcare system that is integrated, seamless and more secure and with an increased level of compliance. Blockchains offer the opportunity to deliver secure and highly efficient transaction processing between patient, provider and payer and other healthcare parties in a more efficient and seamless way. The use of smart contracts in healthcare is the catalyst by which blockchains can deliver these transactions in a transformative way. The application of blockchains combined with the Internet of Things (IoT) is also a catalyst that will enable these transactions to be processed to disrupt healthcare from its current state at this time. We explore ways that blockchain and its associated information technology will revolutionize our healthcare system that we believe would allow for a more efficient and fluid environment with improved cost efficiencies.
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