Blockchain technology has seen a phenomenal increase in adoption since its introduction a couple of years ago. The healthcare sector not wanting to be left behind has seen Hyperledger introduce a blockchain framework called Sawtooth 1.0. The framework is part of other five including Iroha, Burrow, and Indy that is still being developed. Sawtooth 1.0 is hosted by Linux Foundation and is the second active Hyperledger to reach 1.0. Sawtooth is known as an open source distributed ledger framework and delivers unique capabilities. Some of the benefits of Hyperledger Sawtooth include:

On chain governance: Participants can use the smart contracts to vote on the configuration settings in the blockchain. This includes allowing smart contracts and participants.

Advanced transaction execution engine:  To accelerate blockchain creation and validation parallel transactions are processed.

Support Ethereum: Ethereum offers many opportunities for the health sector, which include smart contracts execution and Ethereum tooling.

Dynamic consensus: As the blockchain grows, participants can upgrade or swap the blockchain consensus protocol and enable the incorporation of scalable algorithms as they become available.

Broad Language support: Sawtooth will give you to customize the smart contracts to whichever language that you wish. This could include Python, javascript among others.

Hyperledger Sawtooth 1.0 has seen significant growth since the first codes were created in April 2016. Support from the community has been impressive with organizations like IBM, Microsoft Azure, Monax, Ericsson, Amazon web services, Cloudsoft, Open Music Initiative, Huawei, Intel and more than 50 engineers having contributed significantly to the project.

The main objective of Hyperledger is to enable organizations to create a common distributed ledger technology that is industry specific and supports various applications and hardware. Since its inception, the project has grown to include over 185 members. Today Hyperledger spans various industries that include healthcare, finance, credit card services, supply chain, internet of things, aeronautics among others.

Hyperledger previously released framework – fabric 1.0 – worked wonders in the health sector. Change Healthcare was one of the first healthcare providers to join Hyperledger. They did this by incorporating their claims management system. It was discovered that the framework brought about enhanced transparency and made for a more secure revenue management system. Enhanced efficiency means the healthcare provider is processing over 550 transactions per second through blockchain technology.

When healthcare processes are streamlined, the practitioners have more time to offer better services to their consumers and at reduced costs. Many of the healthcare providers are taking a cautious approach when it comes to adoption of Hyperledger blockchain framework. Some of the facilities are watching to see how effective Change Healthcare blockchain solution works before they can implement their own.

Blockchain technology may be the long-awaited solution to revitalize the help care system. It will lead to enhanced data security will boosting efficiency along the drug supply chain. Cases of fraud and manipulation of data are reduced. Blockchain technology will also result to better revenue management cycles and help develop transparent systems. With increased trust in medical services, providers should see a rise in revenue systems.

Categories: Blockchain

Leave a Reply

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!