Good Day Steemit Crypto Academy!

Today, we are discussing this certain topic for the week 6 homework task posted by @gbenga. We are going to explain the security benefits of applying blockchain within an industry, and the impact of cryptocurrency on that industry.

_{Blockchain graphics, from builtin.com.}

Due to the rise of Bitcoin, the blockchain industry has gained popularity over the last decade. Their use cases have expanded beyond being just currencies. The use of blockchain has emerged in industries like healthcare, education, real estate, the Internet of Things, etc. This is due to its decentralized quality. The transparency of the distributed ledger is immutable, canceling the need for central authorities/management. These qualities make it secure and reliable.

One way blockchain is useful is it can provide a way to do medical record keeping.

Usually, patients find it difficult to keep documents properly and safely. Documents also tend to get more complex over time so maintaining them can become complex too.

However, with the usage of blockchain technology, accessibility can be improved a lot. Patients' data can be kept in the blockchain making it accessible and easy to update whenever needed. For the doctors, the data can become easier to manage.

Smart contracts can also be used to enforce agreements without the need for an intermediary party to intervene. Since it's recorded in the blockchain, that agreement can be accessed anytime and can be easier to read.

_{Security graphics from Pixabay.}

Data storage and security is one of the main issues the healthcare industry encounters, especially the misuse of them through selling the data to other companies.

This is due to poor data handling with the use of outdated systems. Using outdated systems slows down processes and increases the cost both for operating and for the consumers.

With blockchain technology, we can completely change the system, helping the industry to overcome those challenges above. For example, improvements to data access, integrity, exchange, and security. We can use different types of protocols that run on the blockchain to allow accessibility of data across hospitals and systems. Security issues can be solved thru the use of encryption via private keys, meaning only the receiving party can decrypt the information they need.

In short, it is possible to say that blockchain can be a better security option than currently available solutions in the healthcare industry.

Here's a sample application of the use-case of blockchain in the healthcare industry. This blockchain project is called BurstIQ.

_{Screenshot from BurstIQ.}

WIth BurstIQ a blockchain project that uses big data-based smart contracts, users are able to facilitate the transfer of sensitive medical data between patients and doctors.

_{BurstIQ graphics, from GbaGlobal.}

The contracts in the blockchain specify clear outlines and parameters for data sharing. They may also contain personalized health plans and other relevant details for each individual patient.

BurstIQ offers most (if not all) of the features needed to improve the following parameters:

• Security & Trust
• Scalability
• Analytics
• Data Sharing

On top of that, it has advanced features like monetization, having a global data exchange and marketplace, Workflow and Orchestration Engine, and Rules Engine.

Thanks for reading!

Source: Some images used were made in Photoshop or gotten from the internet (sources stated under captions). The information listed here has been gathered from multiple/different sources like BurstIQ website and 101blockchains. Thanking and tagging Professor @gbenga, @steemitblog, @steemcurator01, & @steemcurator02.