Blockchain-Based Medical Insurance Storage Systems

Blockchain carries the key to a new era for the transparent, decentralized, and immutable handling of digital assets. Supply chain management, voting, the banking sector, and healthcare have already started to make use of some of its benefits. Undoubtedly, the field of healthcare faces a lot of difficulties with the existing system of storing medical transaction data. Today, computerization has helped to store data in a systemic manner to a larger extent, but manipulation still seems to be a solemn concern. Health insurance is one of the major sectors vulnerable to fraudulent activities like false claims, claim denials, forgery, etc. Some people claim false amounts from insurance by showing the wrong amounts. Conversely, some insurance companies may deny genuine claims.