Blockchain as a Disruptive Technology in Healthcare and Financial Services - A Review based Analysis on Current Implementations

Abstract

Blockchain is a time-stamped series of immutable records it is managed by a cluster of computersowned by different entities it allows only authorized participants to access data and log of allentries. Multiple industries are adopting blockchain technology to innovate the way they function.over two decades the hospitals function is the same. This space is rife with vertical innovationmoreover, are lag with horizontal innovation patient identification and information blocking whichis a huge problem in the healthcare industry. With blockchain the healthcare sector can achievedata efficiency, data access flexibility, interconnection, transparency, security, and more. Globaleconomic slowdown has taken a toll on financial services. Forcing Indian companies to expose inthe global economy. In the case of finance blockchain help reduce potential costs, labor savings,safe, secure, decentralized, transparent and more. The purpose of this paper is to review thedevelopment of blockchain and healthcare, financial services and to provide some references forthe possible application of blockchain technology to the healthcare and financial services.secondly, several application scenarios of blockchain in healthcare and financial services are putforward, Finally, the challenges that still exist when applying blockchain technology based on its current implementations in healthcare and financial services.