Imagine a healthcare environment where physicians are paid instantaneously after office visits or procedures. How comforting it would be for a patient to get preapproval for an MRI within minutes instead of days or weeks. How vital is immediate access to medical records when traveling abroad, particularly during an emergency?
All of these are possible utilizing the concept known as smart contracts.
In simple terms, a blockchain is a distributed ledger used to record data and transactions. By duplicating this ledger across computer networks, blocks of data are verified and then become immutable. Attempts to change