Steemit Crypto Academy Contest / S2W3 - Blockchain in our lives. by @sikan-eyen
Image source:pixabay
Greetings to you all,
In my entry in the academy today, i will be sharing insights and my opinion about blockchain and how much it is rapidly being utilized and changing lives everyday.
BLOCKCHAIN CHANGING EVERYDAY LIFE FOR EVERYONE
Blockchain-based currencies transactions are remarkably fast, cheap and even secure, this makes it possible for it to be used for other activities other financial tasks such as in the industrial sector, insurance, health sector or even used in casting votes during an election and it shows the exact specific time such transaction / activity took place (Occurred). They are designed to track ownership histories.
Image source:pixabay
They help to rectify issues arising in the music industry on piracy, they are useful in public services like the health sector.
Blockchain is gradually evolving to the apex where businesses and companies will thrive successfully without human interventions.
It secures sensitive data away from the public eyes and enhance services by making them more efficient.
Therefore, in my opinion, Blockchain in our everyday lives is significant in many areas of our lives, so it is on to brace up and prepare for the expostulations and opportunities they present our way.
PRESENTING THE MAIN ADVANTAGES AND DISADVANTAGES IN ADOPTING THE USE OF BLOCKCHAIN IN EVERYDAY LIFE
Image source:pixabay
Just as i earlier stated, that the blockchain technology usage will present it's challenges along with opportunities which we must be ready for, of course for every baggage, we must accept all that comes with the baggage.
Outlined below are the advantages of adopting blockchain in everyday lives:
Blockchain offers a high level of security; They protect and offer security to very sensitive information from online transactions.
Convenient and speedy transactions; Blockchain offers to us really swift transactions which takes just few minutes to be executed efficiently.
Owner privacy protection; In the blockchain technology, no middle man is involved as activities are direct without any third party obstruction from the government or other financial bodies.
Image source: pixabay
It's disadvantage includes:
- Risk in loss of private keys; Over time, there have been reported cases in loss of private keys which poses a lot of challenges to such user, this makes it disadvantageous.
Restrictions in scalability; Another disadvantage in adopting blockchain is the fact that there is limit in the number of transactions per node making it take time to round up with multiple transactions and other activities.
Lastly one has to be meticulous because it is difficult to rectify information once it has been recorded.
PRESENTING THE FUTURE OF BLOCKCHAIN AND HOW THIS TECHNOLOGY IS IMPACTING THE WORLD
The arousal in blockchain across the world has and is growing rapidly.
Theoretically, this technology crosses hurdles and eliminates inefficiencies manipulated by third parties and a whole lot of other factors.
The force of the blockchain is encompassing as many banks overseas have indicated interest in partnering, investing and developing the technology.
The blockchain technology uses cryptography techniques which contains peer-to-peer network and shared decentralization where components can be stored, and updated manually.
Blockchain technology is versatile making its applications acceptable for transactions and the bedrock for other technological innovations.
Many electronic commerce platforms and various industries maximize the features of this technology to ensure a better performance.
📌Blockchain technology has provided strong solutions to the world, so this technology without a doubt will present an illuminating future to the world.
MY OPINION ABOUT THE IMPLENTATION OF BLOCKCHAINS IN THE HEALTH SECTOR WITH AN EXEMPLARY CASE STUDY
Blockchain being executed in the healthcare sector Is very beneficial in many ways.
Normally as it done in many healthcare facilities, there is no privacy to patients information which includes personal information, prevailing health condition and health history in general. This is really bad as such information should be kept I'm confidentiality.
These facilities operate mostly traditionally using paper, files and folders which are made transferable to different personnels and and some facilities have upgraded I'm this new age by working via computers which is also accessed by different eyes.
Blockchain technology in the healthcare system has solved this problem.
The ledger technology design efficiently facilitates the storing and updating of patient's information appropriately across other facilities as in the case of patient's referrals.
It enables these facilities to build a centralize database with this technology and transmit information only with the authorized persons when needed.
At the same time, it prevents medical records from being lost, and protect every patient's confidentiality owning to the fact that it is tamper proof, no record could unknowingly get missing or disappear while it avoids mistakes/ misinformation.
It is pertinent to mention that medical fraud which is very common amongst many facilities will be very difficult as there is a trackable paper trail.
Some blockchain healthcare companies include; RoboMed, ProCedEx, Factom e.t.c
My Personal Case Study:
Immediately after my National service I got a job with a hospital in town and worked in the Health Maintenance section (HMO).
I handled patients folders too and knew all their health information which is improper and also most times, some folders get missing or some important pages get torn or missing.
Also, there were many cases in which in the preparation of patient's medical bills, unecessary bills were being included for services they didn't even receive and these pay for treatments they did not need !
Blockchain helps the healthcare industry is drowning further in these gaps presenting a verifiable and transparent transaction.
I would finally conclude by saying that the implementation of blockchain in the health sector has been positive.
My humble appreciation goes to the #Steemit team, @crypto-academy and the Steemitcryptoacademy for these interesing topics.
THANK YOU ALL YOUR TIME PLEASE MAKE VALUABLE INPUTS.
Yes, you are right, the technology is very secure, fast and efficient. I would love the health sector to fully implement it.
You have explained well.
It will go a long way in promoting the health sectors in many countries, and makes services seamless faster while giving patients a sense of confidence.
I appreciate your contribution.
I agree with you that blockchain technology will, and even has presented opportunities. In my opinion, the challenge is puang which will lead a business activity, for example", to a better and more profitable direction. Thank you for sharing your great knowledge with us in the steemit crypto academy contest.
You are welcome and thank you too. I believe the positivity is strong enough to overcome the negative sides of all blockchain technology brings to our lives.
Yes ! I agree to that
Very well said blockchain in health care services are very important from your experience shared i can understand there is need for patients information to recorded on blockchain to avoid case of misinformation and lost files thanks the shear.
Yes, from my experience then, we use to gossip alot about patients within the clinic and out, going through their folders to keep up with their condition whereas it was not supposed to be in our custody....well that's because these information were not secured.
There is indeed great need for information security please do check out my post as well on how blockchain impact our life
Okay mate i will do that. 👍🏽
It will really be nice if this is implemented into the health sector.
Nice research and analysis here.
Best regards
Thank you so much.
I really learnt a lot from this presentation @sikan-eyen. Let me react to this below:
This is one area blockchain is simply the best. Its storage mechanism is immutable, meaning that data cannot easily be changed, destroyed or manipulated. So those bad eggs in the healthcare sector that change patient data for financial gains will really have a tough time doing that in a blockchain system. I wish all the healthcare facilities will adopt blockchain for patient records management. Thanks @sikan-eyen
It may sound awkward but certainly these fraudulent acts is going on across various healthcare facilities in the name of making more money... I am a witness to this, especially in the cases where the patient are ignorant of the services rendered to them.
Adopting the implementation in the health sector will go a long way in providing a long standing remedy to this.
Thank you for engaging my post.
Thank you for contributing to #LearnWithSteem theme. This post has been upvoted by @cryptogecko using @steemcurator09 account. We encourage you to keep publishing quality and original content in the Steemit ecosystem to earn support for your content.
Regards,
Team #Sevengers
Thanks for supporting.
You have written very well my dear @nsikan.
Like you have said, blockchains protects the privacy of one's medical information and give transparency that in the medical bills of a patient which are not obtainable in the traditional methods of keeping information.
Very well my friend, blockchain technology will block the means to this questionable acts.
Blessings.
Thank you for publishing an article in the Crypto Academy community today. We have accessed your article and we present the result of the assessment below
Comments/Recommendation
Your explanations on blockchain technology is clear and well detailed. I hope you can keep up with the good work. Thank you for participating in this contest.
Total|8.5/10
Wow, i am encouraged, thanks alot for the heart warming review.
You've written a very interesting contest entry here! Thanks for sharing with us!!
Thank you too.
Your explanation about advantages and disadvantages of adopting Blockchain in our everyday lives is quite good and easy to understand even to those that has no knowledge about blockchain.
I also believe implementation of Blockchain in health sector is good as it will protect the confidentiality of the patient information.
I'm glad you found clarity in my publication, blockchain in the health sector is substantial and it's something to hold on to.
Thank you for your feedback.