Healthcare industry is a multifaceted entity that spans multiple branches, and has a myriad of opportunities for improvement and challenges. Different entities are incorporating technology advancements into different industries like finance and real estate, retail and many more. Blockchain technology is among the technological advancements that could bring many benefits to the everyday operation and management of companies. The healthcare sector is no exception to the incorporation of these innovations. The goal of this article is to examine the use of blockchain technology within the healthcare sector and to evaluate the options it can provide to the new challenges that are emerging in the healthcare industry.

It is first important to know the basic principles Blockchain technology as well as the functions it serves. In general terms, the blockchain technology refers to "a distributed, decentralized system that records information and records transactions in blocks" (Sethi 2018 page. 607).

Based on Agbo, Mahmoud, and Eklund (2019) the technology was popularized by Bitcoin and researchers continue to find new ways to integrate the technology in other sectors. Blockchain gives healthcare providers across the nation the ability to keep track of transactions that are not subject to the oversight of the central authority that is trusted (Sethi (2018)). Therefore, one can think of this technology advancement to a massive database that gathers data from various sources and gives them secured access to requested data blocks.

The next step is to consider the way in which data flow that is in line with software that uses blockchain. Khezr, Moniruzzaman, Yassine as well as Benlamri (2019) discuss the processes that blockchain-based management employs to protect immutable data. The first step is that the interaction between the patient and health professional produces information that is later converted into an digital health records of the patients (Khezr and others. 2019).

Each patient is given personal access to data stored in a private and distributed way, and can allow other people to access the data (Khezr and al. 2019,). The last chain link in the process is when hospitals are granted access to records with the consent from the individual patient, who's the owner of the data ((Khezr and al.. 2019,). Therefore they are the most important components of the blockchain sharing and storage of data.

It is vital to consider the facets of the healthcare sector, which will greatly benefit by the introduction Blockchain technology. The most important aspect is that blockchain technology will aid in creating an infrastructure that will connect hospitals across the country. Sethi (2018) connects it with a collaborative system which will provide an easy information sharing system, allowing multiple parties to gain access to each user's the records.

Another benefit of blockchain technology is the development of networks that connect blood banks, laboratories insurance companies, and pharmacies (Sethi 2018, 2018). By utilizing this technology, all these parties will be able to eliminate a myriad of issues including the shortage of blood at one of the centers or the management of the manufacturers and pharmacies (Sethi 2018). Additionally, blockchain could help in preventing the frauds that are associated with the health insurance which can occur within the industry (Sethi 2018). This technology brings several advantages to the business and facilitates a smooth collaboration between its members.

In conclusion, the blockchain technology is connecting various industries, including healthcare and offers organizations the possibility of new opportunities. The new possibilities offered through the technology process allow to improve the parts of healthcare which are constantly challenged and strive to overcome these. Blockchain technology provides a simple method of sharing data between all health care providers and solves the issues and limitations within them.

The healthcare industry is a complicated organization that includes multiple branches, and has a myriad of opportunities for improvement and challenges. Many organizations are gradually incorporating technological advances into various sectors including finance and real estate, retail and many more. Blockchain technology is among the technological advancements that could bring numerous benefits to the day-to-day operation and management of companies. The healthcare sector is no exception to the incorporation of these advancements. The aim of this paper is to study the application of blockchain technology within the healthcare industry , and then examine the solutions it provides to the enthralling challenges in the sector.

It is first important to comprehend the fundamentals Blockchain technology as well as the functions it serves. In general terms, the blockchain technology refers to "a distributed decentralized system that records information and records transactions in blocks" (Sethi 2018 page. 607).

Based on Agbo, Mahmoud, and Eklund (2019) Agbo, Mahmoud, and Eklund (2019), this technology gained popularity thanks to Bitcoin and the scientists continue to find new ways to integrate the technology in other sectors. Blockchain gives healthcare providers across the nation the ability to keep track of transactions with no oversight from the central authority trusted by the public (Sethi 2018). This means that one could compare this technology advancement to a massive database that gathers data from various parties and gives them secured access to requested data blocks.

The next step is to consider the method of data flow and its relationship with Blockchain technology application. Khezr, Moniruzzaman, Yassine as well as Benlamri (2019) explain the steps blockchain-based management uses to ensure that data is secure and immutable. First, the interactions between the patient and healthcare professional generates data that is later converted into an medical record electronically of the patient (Khezr and co. 2019).

A patient can have personal access to data stored in a secure and distributed manner, and also give permission to others (Khezr and al. 2019). The last chain link in the process occurs when hospitals are granted access to records with the consent from the individual patient, who's the owner of the data ((Khezr and al.. 2019). Thus that these are the key components of the blockchain sharing and storage of data.

It is vital to consider aspects of the healthcare industry that will benefit greatly by the introduction Blockchain technology. The most important aspect is that blockchain technology will aid in creating an infrastructure that will connect hospitals across the nation. Sethi (2018) connects it with a collaborative system that can facilitate an information sharing system, allowing multiple parties to gain access to each user's information.

Another benefit of blockchain technology is the establishment of networks that connect blood banks, laboratories insurance companies and pharmacies (Sethi 2018). By utilizing this advanced technology, all those parties will be able to eliminate a myriad of issues including the shortage of blood at one of the centers, or the management of the manufacturers and pharmacies (Sethi 2018). Additionally, blockchain could help stop the fraudulent activities related to the health insurance system that can occur within the industry (Sethi 2018). Therefore, blockchain technology offers several advantages to the business and facilitates a smooth collaboration between its members.

In the end, blockchain technology is connecting diverse industries, including healthcare, and offers organizations the possibility of new opportunities. The new possibilities offered through the technology process allow to improve the various parts of the healthcare industry which face constant challenges and strive to overcome these. Blockchain technology provides a simple method for sharing information between the various people involved in healthcare. It also removes barriers and problems within them.