May 14, 2020 Knowledge Center

Healthcare: In need of innovation

There are significant problems with the way Privacy and Security are handled in the healthcare industry. For the industry to thrive, it needs to apply new and effective solutions. In ten years, between 2009 and 2019, more than 230 million patient records were exposed in constant data breaches. Why does this happen, and why are the numbers so prominent?

Several factors can contribute to this, including inadequate security practices and the nature of centralization itself. The data is stored on a central server, which makes it more vulnerable to targeted cyber attacks. Moreover, with centralized databases, patients are at the mercy of healthcare providers that have full control over their medical data records. This raises privacy concerns.

In addition to that, if patients decide to change their healthcare provider, they have to start over and register anew with no ability to transfer previous records from the old provider making patients’ data scattered around and the process inefficient and slow.

Thankfully, there are ways to vastly improve the current situation by using Self-Sovereign Identity (SSI) on a decentralized network. Decentralized systems bring notable advantages:
– reduce costs of network maintenance and data storage,
– prevent data breaches as they lack central points of failure,
– they have no one point of attack that would disarm the entire system.

Using SSI on a decentralized network secures personal data and puts you in full control of it with the choice of where to use your personal information and how. No one can view or access your information without your consent.

Imagine you have a doctor’s appointment. You can grant access to your medical records only to those examining your condition and giving you treatment. There is no need to worry if you change your health provider. The decentralized nature of the technology ensures interoperability among medical service providers with portable electronic health records and a secure channel for exchanging sensitive information. It serves as one ecosystem for patient data that can be quickly and efficiently referenced by doctors, hospitals, pharmacists, and anyone else involved in treatment. In this way, the network can lead to faster diagnoses and personalized care plans.

These are but a few essential issues the Self-Sovereign Identity accompanied by decentralization solves. The sooner institutions put resources into exploring the vast capabilities on offer, the faster it can begin to prevent data breaches, reduce costs, and improve efficiency to the operations.


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