Will Blockchain Survive the 2022 Cryptocurrency Crash?

Yes. Blockchain will not only survive the crypto market crash 2022, but it’s also about to surge in many different industries. The future may not be as bright for crypto just yet, no matter how much Elon Musk continues to throw his support behind Dogecoin.

Blockchain Is Not Cryptocurrency, And Crypto Is Not Blockchain

When it comes to worldwide mass excitement, be careful who you bring to the party. If things go bad, you might be found guilty by association. Blockchain and crypto exploded onto the general public’s consciousness at fundamentally the same time. It’s no wonder many people have trouble seeing the difference.

There was so much excitement and money surrounding both crypto and blockchain that investors and enthusiasts alike didn’t bother to investigate the details. Fast forward to the cold hard reality of the crypto winter. The price of Bitcoin and other cryptocurrencies have plummeted so fast, many people are too shocked and afraid to draw any distinctions.

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The Main Differences Between Blockchain And Crypto

In the simplest terms, blockchain is a way to store data on a digital file. It’s an open database that is duplicated among many, many computers. This open distribution makes it completely transparent so that the data contained therein can be verified by many users.

This widespread ability to be verified means no one central agent can change the data. This decentralized ability to verify makes the data contained in the blockchain extremely secure.

Blockchain was originally conceived as a technology to manage a cryptocurrency. If you think of blockchain as the tool and bitcoin as the product, it’s easy to see they are related but distinct. Here are some other differences:

Blockchain is an open form of big data – Cryptocurrency is a virtual form of money.

Cryptocurrency is based on anonymity -- Blockchain is all about as many people as possible having exactly the same information.

Bitcoin, Ethereum, Tether, USD Coin, and BNB are all forms of cryptocurrency that rely upon blockchain technology – Blockchain is a tool that is used in many different industries.

The blockchain solution is unaffected by stock market fluctuations – cryptocurrencies are susceptible to wild swings in value like a bear market on Wall Street.

Blockchain is intended to keep things like personal finances secure – Cryptocurrency is promoted by people who want to increase value.

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The Different Types Of Blockchains

There are four different types of blockchains and each one has both pluses and minuses:

Public Blockchains – This is the type of blockchain that is most closely associated with Bitcoin and other forms of digital currency. Public blockchains provide a ledger that is easily accessible to anyone who has registered as an authorized user or node. Everyone shares the same information.

PROS: Highly secure. As long as users employ the protocols sincerely, it is difficult for hackers to target.

Transparent. Everyone gets the same information, and the more people that have it, the more secure it is. Transactions of any kind are instantly available to everyone.

CONS: Slow rate of transactions. Transactions Per Second (TPS) are slower than other blockchains because there are so many nodes, and it’s time-consuming for every node to process the same transaction

Significant use of energy. Here again, so many nodes have to process/verify data, and this can mean millions of computers using up energy.

Private Blockchains – Private blockchains are a closed systems accessible only by authorized users. The entity that owns the private blockchain controls the security of the network. An example of a private blockchain would be an organization that enables only verified participants to interact with its own supply chain of products.

PROS: Lightning fast. Because of the limited number of nodes, each transaction is distributed to the network instantly. Private blockchains have an extremely high TPS.

Size doesn’t matter. The number of nodes can scale up or down as needed depending on what is called for by the owner of the blockchain.

CONS: Centralized control. One agent controls many factors. This central control runs counter to the decentralized inspiration of a blockchain; however, within the closed system, there are many benefits.

Security questions. Since all control is centralized, a private blockchain doesn’t benefit from the same dispersed transparency. By its very nature, a private blockchain is more susceptible to hackers. The owners of the private blockchain must take precautions.

Consortium Blockchains – More than one company, agrees to manage and operate the blockchain according to their joint needs. This type of blockchain is still a closed system, although it does answer many participants.

Hybrid Blockchains – Many consider this a closed system; however it benefits from the advantages of both private and public blockchains. Based on the protocols, some of the data is made public, and some of it remains private. Confidentiality stays high for certain private data, and security increases for public data because it’s so transparent to so many users.

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Smart Contracts And Proof Of Stake

Smart contracts and proof of stake are two popular topics when it comes to blockchain and cryptocurrency. Proof of stake is a way to achieve consensus to validate cryptocurrency transactions. Smart contracts are programs that are triggered to run if and when a set of agreed-to conditions are satisfied. In this way, all parties are notified immediately.

Banks And Financial Institutions Are Just the Tip Of the Blockchain Iceberg

To learn just how many industries are racing to adopt blockchain technology, click here.  

Healthcare is one of the industries that is gaining the most benefit from blockchain capabilities. 

Imagine having every single detail of your entire healthcare history accessible in seconds only to those of which you approve. As healthcare becomes more and more sophisticated, so too does the amount of data increase. Keeping all this data current, organized and secure is a big challenge. And yet, the rewards to the patient can be phenomenal.

Companies like Wytcote are revolutionizing the quality of healthcare for seniors so that they can lead safe and independent lives while staying connected to their loved ones.

Technology That Helps Seniors Live Well in 2022

If you’re wondering how technology helps seniors live well, you’re in luck. Technology has advanced so much and is now so user-friendly, seniors are taking charge and living their best lives. In this article, we will review some of the latest developments older adults enjoy using to stay connected.

True high-tech is easy to use

There’s no longer any need to be apprehensive about becoming tech-savvy. The measure of the most cutting-edge technology is not how complex it is or how powerful it can be. The best technology is easy to use. That’s why it’s so many seniors are engaging technology to maintain and strengthen their bonds with family members.

Get back in the game

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If you can use a keyboard or if you can use your voice, you can get right back in the game with a rich, connected life. Whether you’re in a senior living facility or receiving senior care at home, all you need is an internet connection, and the world will come to you.

For a long time, technology has made it possible to play games, remind you of daily activities and even trigger an emergency response when necessary.

Today, simple-to-use devices can provide fall detection to family members and automatic alerts to the people you choose. Many of these devices are voice-activated and work in real-time as things are happening. The simplicity is a game-changer for everyone.

Face-to-face video chatting with friends and family

Absolutely nothing can replace being face to face with your family and friends. Well, now you can see their smiles up close even when their thousands of miles away. Face-to-face video chatting is easier now than it has ever been. Whether you have an Apple device or an Android device, you have a variety of ways to connect.

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How to use WhatsApp, FaceTime, and Google Duo:

FaceTime for iPhone users: Go to settings on your iPhone or IPad and scroll to and tap”FaceTime.” There’s a slide-type switch next to it. Slide it over to activate it. Go back to your home screen and finger tap on the FaceTime symbol. Next, there’s a button in the top right-hand corner with a plus sign on it. Tap it. If this seems too difficult, text your contact and have them initiate a FaceTime call to you. That’s what I do.

Google Duo of Android users: So what, you don’t have an iPhone. You can use an Android tablet or phone to get the same thing. Simply use your browser to go to the Google Play Store. That’s where you can download Google Duo for free. Once you’re there, it couldn’t be more simple to use.

WhatsApp video calls for everyone: It’s the most used messaging application in the world. More than two billion people use it to message each other and video chat. Go to whatsapp.com and download the app for free. The rest is easy. That’s what makes it number one.

How to use a Ring Doorbell:

First things first, you can set up a Ring Doorbell anywhere. It doesn’t need to be at your front door. You can put it anywhere you want 2-way communication that features video and audio. When you use it at your front door, you can see who’s there, and you can tell them anything you like.

Buy one or more of the devices and create an account. If you have trouble with it, ask someone to help. Once you create an account, follow the instructions, and “presto,” you have a virtual butler to see who's at your door.

Hi, Echo, what is the weather forecast for today?

The Amazon Echo has been called a “gateway technology.” Once you use it, you’ll be hooked forever. Use it to set daily reminders, find out what the weather is going to be, or get a recap of the local news. It could not be easier to use.

Pretty soon, you’ll be asking it to tell you a joke or recite a recipe for you. Can you imagine? Just ask it anything. We can’t promise you’ll get the answer you want, but the fun you’ll have is guaranteed to make you smile.

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Tile: How to never lose anything again:

I don’t care what age you’re at; misplacing things is a pain. Keys, wallets, your passport, a scrap of paper with the combination to your giant safe – you can find anything with a Tile attached to it.

I have no idea how it works. Maybe it’s pure magic. What I can tell you is that it couldn’t be easier to locate whatever you’re looking for when you put a Tile on it and you search on a smartphone or tablet.

The easiest way to track your vitals:

The latest bracelet activity monitor can track your blood pressure. How about that? Of course, you can keep track of how many steps you take a day. It can measure your heart rate, and it can tell you what time it is.

There are quite a few of these products that are available today, so make sure you read the reviews before you buy.

How to get the technology you need

If you’re at a facility, the Executive Director will be more than glad to help. If you’re at home, try searching on Google. At Wytcote, our only goal is to help seniors live their best lives, and we’d be happy to help you find what you need, wherever you are.

The Difference Between Blockchain Technology & Cryptocurrency

It seems like everywhere you look these days, someone is talking about blockchain technology and cryptocurrency. But what do they actually mean? And are they the same thing?

This blog post will break down the differences between blockchain technology and cryptocurrency and explain why businesses should be paying attention to both. We’ll also give some examples of how businesses use both technologies to power their operations. So read on to learn more.

What is blockchain technology?

Blockchain technology is a distributed ledger technology (DLT) that records transactions in a digital public or private database in chronological order. “Blocks” of verified transaction data are added to the chain, creating an immutable record of all activity on the blockchain.

Blockchain technology can create both public and private blockchain networks. A public blockchain network is one where anyone can join and view the transaction history, while a private blockchain network is “permissioned,” meaning only authorized users can access it.

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Blockchain is distributed across a network of computers, with each computer or “node” having a copy of the entire database. This makes it incredibly difficult for someone to hack or tamper with the data, as they would need to update the copy on every node in the network simultaneously. In addition, blockchain technology enables users to anonymously record and verify transactions without a third-party intermediary. This not only makes transactions more secure but also reduces transaction fees.

Blockchain technology came to the surface with Satoshi Nakamoto’s white paper in 2008. It has vast applications, including in cryptocurrencies supply chain management and voting.

What is Cryptocurrency?

Cryptocurrency is a digital or virtual currency that uses cryptography for security. Most cryptocurrencies are decentralized and not subject to control by the government or financial institutions. They’re often traded on decentralized exchanges and can be used to purchase goods and services. Some popular cryptocurrencies include Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

The organic nature of cryptocurrency is its most defining feature. It is not issued by any central authority and is therefore immune to government manipulation or interference. Cryptocurrency is based on blockchain technology.

Blockchain constantly grows as “completed” blocks are added with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Cryptocurrency nodes use the blockchain to differentiate legitimate crypto transactions from attempts to re-spend coins that have already been spent elsewhere. This can’t be possible with a credit card.

Essentially, blockchain provides the backbone for cryptocurrency transactions by allowing for a decentralized ledger of all crypto exchanges. Cryptocurrency is built on blockchain and allows for digital currency transactions without a third-party intermediary.

What Are The Key Differences Between Blockchain Technology And Cryptocurrency?

There are a few key differences between blockchain technology and cryptocurrency.

Nature of blockchain vs. cryptocurrency

Blockchain is a decentralized technology with no central authority that controls it. On the other hand, Cryptocurrency can be decentralized or centralized, depending on the currency. Bitcoin, for example, is a decentralized cryptocurrency, while Ripple is a centralized cryptocurrency.

Use

Blockchain is the underlying technology that powers cryptocurrency. It is a digital ledger of cryptocurrency transactions. Cryptocurrency is built on blockchain and is primarily used for digital financial transactions (storing wealth, making payments, or investments).

Blockchain has a wide range of other potential applications beyond powering cryptocurrency. It could be used to create a decentralized database of medical records or track the movement of goods through a supply chain.

Value

Blockchain doesn’t have monetary value and, therefore, cannot be used to measure wealth. On the other hand, cryptocurrency has monetary value and can be used to measure wealth.

 

Potential Security Risks Associated With Blockchain Technology Or Cryptocurrency

As with any new technology, there are always potential risks associated with implementing blockchain or cryptocurrency into business operations.

a.    One of the biggest concerns of security in cryptocurrency or blockchain is the possibility of hacking. Because blockchain is a decentralized system, it is less vulnerable to hacking than traditional systems. However, there have been cases where hackers have been able to access wallets and steal funds.

b.    Another risk to consider is the volatility of cryptocurrencies. The prices of Bitcoin and other cryptocurrencies can fluctuate wildly, making them a risky investment for businesses.

c.    Finally, businesses should be aware of blockchain and cryptocurrency's regulatory environment. In some countries, such as China, ICOs are banned outright. In others, such as the United States, regulations are still being developed.

 

How Businesses Are Already Using Blockchain Technology Or Cryptocurrency To Power Their Operations  

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While still in its early stages, blockchain technology is beginning to be adopted by businesses across various industries. Here are a few examples of how businesses are using blockchain to power their operations:

Get Blockchain Technology for Healthcare

Blockchain technology is something that is often misunderstood. However, it has the potential to revolutionize how data is shared in a secure way between different parties. If you are looking for a way to use blockchain technology in your business or industry, please contact us. We have experience implementing this cutting-edge technology and can help you get started on using it in your organization.

Can A CRM Help With My Senior Care Community?

The National Investment Center for the Senior Housing and care (NIC) recently reported that senior housing occupancy in the United States has been lowest since 2020. Therefore, your senior care community needs to stand out to get more clients.

The method you use to store, collect and retrieve data on leads in your community’s sales cycle is important. It helps determine how easy it will be to convert prospects to residents in your senior care community.

Initially, senior living communities tracked leads and managed client relationships with spreadsheets or the usual pen and paper. However, with advancements in technology, spreadsheets may no longer be efficient. Most successful senior care communities use a software called Customer Relationship Management (CRM) to track leads and manage client relationships.

This article discusses CRM in detail. We will look at what it is, how it will help your senior care community, and why you should consider it.

What is a CRM?

CRM software is a tool that senior care communities use to market, manage sales, and build relationships that provide referrals and build occupancy. The software achieves this by centralizing customer data from various sources, thus making it easier for you to make intelligent business decisions.

A CRM also allows you to maximize referrals and leads through automated communications and tracking interactions. You can actively engage with people listed in your software. Doing so goes a long way in converting them to residents.

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How CRM helps you engage with prospects

Seniors, especially those living with dementia, Alzheimer’s disease, and cognitive impairment, require a high level of care. For instance, if the senior has dementia, they will need to select one out of many memory care facilities that prioritize dementia care.

Since relocating to a senior community involves uprooting their entire lifestyles, seniors or family members taking care of them know it’s a big decision. It is only natural that prospects will research senior care communities as much as possible and ask questions when they need clarification. Your job is to provide them with all the relevant information and answer any questions.

Actively engaging with prospects makes them perceive your community as knowledgeable. It also shows that you care about their welfare.

CRM makes engaging with prospects relatively easy through automation. Additionally, when your community’s representatives contact prospects in real life, you can track and monitor their performance. Generally, CRM platforms ensure you don’t lose any leads.

Why use a CRM in your senior care community?

Building relationships is critical in every senior living community. You may initiate relationships through interpersonal interactions, personalized tours, and marketing campaigns, but you still need to turn prospects into clients.

Since most communities have several team members and prospects, there is a need to maintain trusting, consistent, and strong relationships between prospective clients and the brand. This is where a CRM comes in.

A CRM system consolidates client information and manages client relationships on your behalf. Below are ways a CRM can help your senior care community.

Capturing leads and critical information

With CRM, you can easily capture and store data on prospective residents in a centralized location. By doing so, you can see what information they are interested in and track your interaction with them.

This information will also come in handy in care planning when the prospect becomes a resident.

Nurturing prospects to increase occupancy

A CRM enables you to stay in touch with your prospects and build relationships with them. You can collect data on their goals and interests and save the information to your CRM to deliver a personalized experience.

The CRM can easily create personalized communications to tailor-fit the prospects’ profiles so that the information they get is what they need.

Increased insight

A CRM software enables sales and marketing teams to view relevant data and prospect statistics. This way, you can tell which audiences you have been more successful with and which ones require more effort.

A CRM solution also helps you and your staff make appropriate follow-ups.

With increased insight, your sales process will be highly effective since you know exactly where you need to focus. The prospect report from a CRM helps you prioritize the strong prospects you can potentially convert to customers. You can use various marketing and sales tactics on these prospects, including direct mail and targeted online advertisements.

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Automation

A CRM will reduce the response time of your senior care community through automation. The CRM tools change the reporting process from manual to automated. You can filter the automated dashboard to display as little or as much data as you want.

Additionally, the software can schedule follow-up e-mails or calls and issue post-tour surveys. Using this technology can also reduce human error, saving you a lot of time and resources.

Automation also allows you to reallocate valuable resources. Instead of focusing on data entry or management, you can build meaningful relationships with prospective clients. Additionally, you can follow up on your prospects faster. This way, they will deem your senior care community reliable and responsive.

Improved reporting and analytics

Your CRM allows you to manage all your data in one place. You can use it to generate reports which present and interpret essential data.

Additionally, you can monitor your sales and marketing team’s performance and analyze sales activity, trends, and referral sources.

Revenue tracking

A CRM automatically allows you to cross-reference the revenue you have earned with your marketing efforts.

With a CRM, you can quickly evaluate how effective your marketing methods are by tracking your margins and comparing your expenditure and revenue. Together with demographic insights, this information will help you focus on audiences with a higher purchasing power.

Get started with CRM for your senior care community

CRM is an essential tool for every senior care community. It promotes efficiency and helps turn prospects into customers.

Our CRM is tailor-made for senior care communities. Contact us to get more information on how our CRM tool will help you. It is designed to build occupancy in your senior care community and make more profit in the process. We would be delighted to show you how our CRM tool can seamlessly integrate into your community.

 (877) 472-5587

Tracking Vaccinations In A Senior Living Community

Immunization records are essential records that track your vaccination history from when you were a baby to the present. It is essential for older adults, especially those 65 and older, to have an immunization record. Additionally, the record should be up to date.

This article discusses immunization records for seniors. We will discuss its importance, tracing vaccination records, and what to do if you don’t get any records. Additionally, we will discuss the best way to keep track of vaccinations in senior living communities.

Importance of vaccines

The Centers for Disease Control and Prevention (CDC) revealed that every year, thousands of people are hospitalized, develop long-term illnesses, and even die after contracting illnesses that could have been avoided had they been vaccinated. Older adults are especially at high risk.

Some of the vaccine-preventable diseases that prove fatal are; flu viruses (including seasonal flu), pneumococcal disease, HPV (which is a risk factor for cancer), tetanus, influenza viruses (including influenza flu), shingles, and pertussis, among others.

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The CDC ensures that the vaccines people get are safe. Some studies suggested there is a link between the flu vaccine and Guillain barré syndrome (GBS), especially in older adults. Research has shown that the exact cause of GBS is still unknown, and there is no evidence that the flu vaccine causes GBS.

Are vaccination records vital?

Most people assume that vaccines are just meant for kids, but that is not the case. Although you will receive most vaccines when you are just a few months of age, you may require booster shots when you become an adult.

Vaccination records are critical for seniors because other than health care providers in senior living communities knowing which vaccines they require, they can also give them booster shots for vaccines administered when they were younger, some of which are relatively new.

Tracing vaccination records for seniors

Unfortunately, no organization maintains vaccination records, including the Centers for Disease Control and Prevention (CDC). The only records you may find are those parents or caregivers are given when the vaccines were administered and the medical records of the clinic where the vaccines were administered. Therefore, it is up to every individual to gather their vaccination records.

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Tracing vaccination records for seniors can be a daunting task. Therefore, it would help to have a comprehensive plan on how to go about it.

To trace vaccination records for seniors, there are specific places you can check. Here are a few tips.

  1. Ask whether they have records of their childhood immunizations. Most times, the records are passed on from their parents or caregivers.
  2. Check documents they saved from their childhood; this includes any baby books.
  3. Check with their previous employers. Some employers have specific vaccination requirements, so you’ll be able to tell which vaccines the senior got.
  4. Check with schools that the seniors attended. Some high schools and colleges keep such records for several years.
  5. Check public health clinics where the seniors frequented.
  6. Consult their doctors.
  7. Check with state health departments. Some of them keep immunization records, but they may not be for people of all ages.

Once you get all the necessary vaccination records possible, take them to the senior’s doctor and request that they be compiled and uploaded on an official immunization record and other relevant registries.

After that, store all the documents you gathered in a safe place for future reference.

What if you can’t get any records?

If you tried all means but couldn’t get any records, consult your healthcare provider. There are specific blood tests that can reveal whether or not the senior received certain vaccinations.

However, there are instances when the senior will have to be vaccinated again, especially when there are no records and the blood tests do not prove that the senior is immune to specific vaccine-preventable illnesses. 

Note that the vaccines are safe whether or not the senior received them earlier. In the long run, the vaccine will reduce the risk of them succumbing to various illnesses.

Keeping track of vaccinations

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Today, most people move every few years and change healthcare providers in the process. Therefore, getting old vaccination records may prove difficult as well as time-consuming.

You must keep track of the vaccinations of seniors in senior living communities. The records should also be accurate and up-to-date.

Draw up an immunization record for each senior and store them safely together with other vital documents. Alternatively, you can ask a vaccine provider, pharmacist, or doctor for a vaccine record form and use it to fill in the necessary details for each senior.

It would be best if you had the vaccine record form present during any hospital visits. Ask the vaccine provider to sign the form any time you receive a vaccine. They will sign against the type of vaccine the senior received.

Note that the Centers for Disease Control and Prevention (CDC) recently started an initiative to store immunization records. Therefore, it would be best to ask the vaccine provider to update the seniors’ information on the CDC Immunization Information System (IIS). This way, the senior’s vaccination records will be readily available on the system.

Another advantage of the IIS is that it makes it easy for a vaccination provider to determine the appropriate vaccinations for the senior. It combines all vaccination records into a single record so that they can access them easily.

Covid -19 vaccinations for seniors

Most seniors live in senior living communities. More often than not, the seniors in these settings have underlying conditions since they belong to a specific age group. Therefore, they are at a higher risk of contracting the virus that causes COVID-19.

The CDC recommends that all seniors get COVID-19 vaccines. Seniors have two options: schedule a vaccination appointment and get the vaccine from a health facility or request an on-site vaccination. Note that they may experience a few side effects after getting the vaccine, but it will be beneficial in the long run.

Centers for Medicare and Medicaid Services (CMS) require senior living communities to upload COVID-19 vaccination data for their residents. Therefore, you must keep track of COVID-19 vaccination data for all seniors in your community.

Conclusion

Vaccine records are vital. It would be best to keep track of all seniors’ vaccinations in your senior living community. By doing so and keeping your information up to date, you can ensure the seniors get the vaccines they require and dodge potential complications from flu, COVID, & more.

Can Blockchain Technology Be Used For Things Other Than Cryptocurrency?

Cryptocurrency is perhaps the most publicized use for blockchain technology. Perhaps this is why most people assume that cryptocurrency and blockchain are the same. In this article, we will show you that blockchain can be used for more than just finance and banking. This exciting, new technology has a wide array of applications that extend far beyond the implementation of digital currencies.

 

Cryptocurrencies, like Bitcoin and others, merely use the blocks on the blockchain as a means to transparently and securely record a ledger of payments. Blockchain can also be used as a secure way of keeping data about other types of transactions.

 

In theory, people across various industries can use blockchain to store different data points immutably. This could be in the form of votes in an election, financial transactions, titles to properties, product inventories, and much more.

 

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Blockchain can be useful in any application where data security is paramount.

This explains blockchain’s wide adoption in vast industries like healthcare, supply chain, cloud storage and so on. We'll expound on these and other applications of blockchain in this article. But first, let's look at the technology, as it relates to cryptocurrency.

 

Cryptocurrencies and Blockchain

While people use cryptocurrency and blockchain interchangeably, these two aren't the same thing. Bitcoin was the first example of blockchain in action when it was introduced as an open-source code.  

 

Cryptocurrencies serve as an exchange medium. They are a disruptive fintech designed to make international transactions secure, faster, and easier, by putting control straight into the concerned parties' hands. These digital assets use cryptography and proof-of-work to create global currencies, secure transactions, control rate issues, all while removing aspects of government control.

 

The immutable, decentralized feature has fueled blockchain's adoption beyond its original use of supporting Bitcoin transactions. Here's how blockchain technology can be used for things other than cryptocurrency.

 

Blockchain Uses in Monitoring Supply Chain Data

 

The supply chain industry is challenged with enormous complexity, utilizing vast amounts of data. Information is often fragmented, inconsistently formatted, making it difficult to access or analyze. Blockchain technology seeks to address these and many other challenges.

 

Blockchain integration in the supply chain allows businesses to record a wide range of information effectively from date, price, location, certification, quality and other forms of critical data. This enables a more accurate and transparent end-to-end monitoring. It can also reduce disputes, as well as blockages of assets throughout the entire supply chain. By eliminating paper-based trails, companies can quickly identify inefficiencies and locate the assets in real-time.

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Blockchain integration in supply chain management will help save time and money.

 

Most companies agree that one of the biggest benefits of using blockchain technology for supply chain management is cost reduction. The ability to use real-time tracking in supply chain management proves to be one of the largest sources of cost-reduction.

 

Plus, there are other incredible benefits such as increasing automation through smart contracts, the provenance of tracking, scalability, and security.

 

Blockchain Uses In the Internet of Things (IoT) Systems

IoT is changing the way businesses run through the use of sensors and other edge infrastructure and devices. While a great thing, this poses a unique challenge for companies that have to protect data at all levels of the IoT environment. And with the ever-growing number of connected IoT devices, the need for data security has never been this complex. Blockchain technology is helping businesses resolve the security challenges in their IoT systems.

 

Blockchain combines with IoT to facilitate the machine-to-machine transaction. This blend also provides a range of potential benefits, like allowing smart devices to run autonomously without a centralized authority. It can also monitor how IoT devices send and receive information. The distributed ledger technology with IoT applies in automotive, agriculture, and banking sectors while, also, extending to smart homes, logistics and smart contracts. Blockchain application allows businesses to manage information on smart devices in an IoT system. This lowers costs linked to data transfer and IoT device maintenance.

 

 

Blockchain Uses in Smart Contracts

 

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Smart contracts are transactions that are secured by a distributed blockchain network.

A smart contract is a transaction protocol or computer program meant to automatically execute, document, or control legally relevant actions and events, as per the terms of an agreement or contract. It aims at reducing the need for external enforcement or a central entity as well as fraud losses.

 

Smart contracts use blockchain to capture, verify, approve and enforce agreements between parties. Blockchain-based smart contracts are irreversible, traceable, and transparent transactions. They are immutable, secure, and exist across a distributed blockchain network. Once recorded, it becomes impossible to change, delete or lose an agreement. The uses of smart contracts are vast, but they are common in property ownership and cross-border financial transactions. Other uses include: monitoring origin and the path of goods, banking and credit card services, among others.

 

Blockchain Uses in Cloud Storage

 

Dropbox, Google Drive, Gmail are great examples of cloud storage. Many companies are using these and other premium cloud storage services to streamline their operations. Data in the cloud is easy to access, edit and share. It also cuts out the need for physical storage and security. 

 

Blockchain applied to cloud storage breaks down user data into small chunks and adds an extra layer of security before distributing it across the network. This is thanks to its features like transaction ledgers, private/public key encryption, and hashing function. Blockchain stores these chunks of data in a decentralized location. So, when hackers try to access the data, they’ll find encrypted data that’s only in parts. They will never be able to access the entire file.

 

Blockchain Technology in Healthcare

 

There are vast applications of blockchain in healthcare. Uses include protecting healthcare data, point-of-care genomics management, managing electronic medical record data, electronics, and personal health record data management.

 

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Protecting personal health information is one of the main ways blockchain tech can be used in the healthcare industry. It can also be used to track disease outbreaks and enable doctors to monitor patients, remotely.

Specific applications of blockchain in healthcare include:

· Research

 

· Collecting data

 

· Interoperable electronic health records

 

· Mobile health apps and remote monitoring

 

· Tracking outbreaks and diseases

 

· Safeguarding genomics

 

· Health insurance claims

 

· Tracing and securing medical supplies

 

· Data security

 

Blockchain Uses in Privacy and Security of Chats and Media

Media companies are now adopting blockchain to secure intellectual property rights of content, minimize costs and eliminate fraud. Blockchain in Media and Entertainment Market report 2021 by MarketWatch reveals that the sector will reach USD 1.54 billion by 2024. Messenger services are also not left behind. With billions of devices and users, there's an inherent danger of hacks, social engineering, and so on. Blockchain technology prevents identity theft, fraud, and data tampering while also protecting critical infrastructure.

 

How Secure is Blockchain Technology?

Blockchain is spreading across all industries far beyond its initial fintech applications. Companies in different sectors are expanding and diversifying their blockchain initiatives. Indeed, blockchain appears to be entering a new era of broader, more practical adoption, even as those who were skeptical start to grasp its long-term potential. So, how secure is blockchain technology?

The demand for blockchain is soaring at an alarming rate as companies see it's potential. Blockchain promises transparency, scalability and, most importantly, security. Let's take a look at the challenges and vulnerabilities of this burgeoning field of technology.

Security by the blocks

The term blockchain refers to a chain of digital blocks with transaction records. Each block connects with other blocks on either side to form a chain. This makes it hard to alter a single record as one would have to change the block with the record and those connected to it to avoid detection. In addition to this, blockchain has other built-in characteristics that offer extra security. These include:

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Cryptography

Cryptography seeks to prevent third-parties from accessing data from private messages during a communication process. Blockchain uses two types of cryptographic algorithms: hash functions and asymmetric-key algorithms.

Asymmetric cryptography (or public-key) securely encrypts messages between two computers. Anyone can use another person’s public key to encrypt a message. However, one can only use a corresponding private key to decrypt an encrypted message.

Paired private and public keys let users send and receive payments. Private keys generate digital signatures for the transaction. Network members then use the wallet's public key to confirm the signature’s authenticity before adding the transaction to the blockchain. After approval, the transaction is immutably recorded into the ledger, and balances are updated.

On the other hand, the Hash function receives data input of any size and returns an output with a predictable and fixed size. Irrespective of the input size, the output will always have the same size. So, for as long as the input remains constant, the resulting hash will be the same. Hashes are used as unique data block identifiers in the blockchain. Each block's hash is created in relation to the previous block's hash, creating a chain of blocks. If someone changes a block, they will also have to change the entire history of that blockchain. The hash identifiers are what make blockchain secure and immutable.

Decentralization

Blockchain technology relies on a decentralized, digitized, and distributed ledger model. Meaning, it distributes data to nodes (users) on the blockchain network. When a user makes a change, the network validates it; then, miners add the transaction into a new block that’s then added to the blockchain. Miners are users rewarded for updating the blockchain.

Decentralization makes blockchain more robust and secure than proprietary centralized models that are currently in the market. If a user attempts to change a single block, they'd need to change the previous blocks before any new blocks could be mined. If not, the nodes would detect the fraudulent behavior and discard the changes. And since thousands of nodes confirm new blocks, it's less likely for anyone to beat their computing power to add a bad one.

Consensus

Consensus is another attribute that makes blockchain technology secure and fault-proof. It involves all peers of a blockchain network coming together and agreeing about the distributed ledger's present state. Consensus ensures that every new block added to the chain is the only version of the truth agreed upon by all the nodes in the blockchain.

The consensus protocol is reliable as it bases on goals like mandatory collaboration, cooperation and participation of every node. It also ensures that every node has equal rights and that a joint agreement is achieved. Consensus is the brain of blockchain. Without it, blockchain would fail. A good example of consensus is the Proof of Work (PoW). In PoW, 'miners' in a network have to provide the computing power needed to verify transactions and maintain the blockchain – which is a lot. They also need to ensure the network's immunity against hackers. Miners compete to chain the blocks together and can achieve that if they get 51% of votes from the nodes.

But the 51% vote is perhaps the biggest threat to this model. If a minority of colluding nodes own more than 50% of the mining power, they will control the network. They could prevent other nodes from adding new blocks. They'd also expose the network to fraud. But the good thing is that consensus is too expensive. It needs lots of energy and computing power to succeed.

Security challenges

Blockchain produces tamper-resistant ledger transactions that make it immune to fraud and hacks. But people with bad intentions can manipulate the known vulnerabilities in the blockchain infrastructure. In fact, they've been successful in a range of scams and hacks over the years. Some common examples include DAO's code exploitation, Bitfinex's stolen keys, and Bithumb's insider hacks. These security issues have been a point of concern for many businesses that want to explore blockchain technology. Blockchain creates unique security challenges for a range of reasons:

Blockchain security threats

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Blockchain security threats fall into three main groups:

Endpoint vulnerabilities: this is where technology and humans meet. Think devices, digital wallets, private key and password, breach, client-side of the application. A hacker can gain access to an account if any of this endpoint is compromised. But the threat is only limited to a victim's account and nothing further. Besides, companies are now using cold wallets along with hardware security models (HSM) that are difficult to compromise.

Untested code: the original code by Satoshi Nakamoto that resulted in the creation of Bitcoin Blockchain is unbreakable. But the same cannot be said for all code in apps built upon the blockchain. Developers who are in a rush to outdo their peers risk producing inadequately tested code on the live blockchain. Considering the decentralization aspect, the risk is higher because of the irreversibility of blockchain.

Ecosystem/third-party risks: the security of this technology relies on the entire ecosystem. This includes other solution providers like smart contracts, payment platforms, fintech, wallets, etc. With other parties in play, a blockchain application's security is only as strong as its weakest link within the ecosystem.

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Does this mean blockchain is not immutable?

No network is 100% secure. And blockchain is not any different. But since the nodes in a blockchain network are distributed, it is almost impossible to alter the chains. It takes a consensus of more than half of the nodes in the same distributed ledger to make any changes. And the fact that all this has to happen within 10 minutes makes it virtually impossible for a hacker to make changes.

Security and privacy

Blockchain technology resolves the security and privacy issues that most organizations struggle with today. Its public key infrastructure maintains the ledger size and prevents any ill-attempts from changing data. Inasmuch as the large and more distributed network makes blockchain more secure, there are concerns around various aspects. For example, by default, the blockchain design doesn't have confidentiality. All data on-chain is visible to all peers in the network.

Blockchain is hard to crack

The blockchain is still in its infancy stages. And like any technology, it is bound to encounter hurdles along the way. But the good thing is that the security issues are addressed quickly. Developers are also coming up with new versions of blockchains to ensure security. Besides, when compared to other technologies, blockchain does a great job storing and exchanging digital value. This explains why health care, supply chain, Wall Street companies, etc., are all adopting the technology.

 

The Future of Healthcare on the Blockchain

Blockchain technology has many applications in healthcare. It can improve monitoring devices, mobile health applications, and clinical trial data. It can also offer a new model for health information exchanges by making electronic medical records more secure, efficient, and decentralized. While not a magic bullet, blockchain technology offers a platform for investment, experimentation, and proof-of-concept testing.

There's so much hype around blockchain. You'd think it is the cure-all technology or one that will solve the chronic data security and interoperability issues that cripple health data sharing. Blockchain will be used to share health information securely and to approve and monitor health data usage. However, the technology alone won't make health data interoperable or ensure data is shared. A lot has to go into standardizing health data formats and coding and controlling data sharing for research and system-wide improvement.

The first blockchain applications will likely handle the secure exchange of well-defined healthcare transactions like tracking the drug supply chain to prevent counterfeiting or settling insurance claims, and so on. But it will take a while to address challenges like interoperability, sharing, and access.

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What is blockchain technology?

Blockchain is a distributed ledger technology (DLT) used to securely record transactions across many computers in a peer-to-peer network without the need of a third party. In the blockchain, every block of data (block) is secured and linked to the next one using cryptographic principles (chain). It's emerging as one of the most promising technologies of the 21st century and is widely applied in healthcare for these reasons:

But despite its potential in healthcare, blockchain remains immature. Gartner's research describes it as a technology in a "hype cycle,” meaning one that's marked with stages of innovation triggers, enlightenment, disillusionment, inflated expectation but ending in a "plateau of productivity." Health blockchain is still in its early days. It cannot be compared to sectors like supply chain, logistics, and financial services that have seen a much faster adoption rate.

Future of healthcare on the blockchain

From biomedical research, to insurance payments and everything in between, blockchain applications will impact almost all healthcare system aspects. This is because the healthcare sector thrives on data generation and sharing. Here is what the health blockchain may look like soon.

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Solution for the Drug Supply Chain Security Act (DSCSA)

Blockchain's ability to trace and store time-stamped data across a P2P network makes it perfect in solving DSCSA's traceability requirements. DSCSA upholds drug security standards by ensuring that all drugs are traceable from when they leave the manufacturer to the time they reach the dispenser. This is in a bid to boost tracking, detection, and removal of misbranded, counterfeit, or potentially dangerous drugs from the supply chain. A network using blockchain is uniquely secured and could be effective in drug fraud prevention. Today, various trials are underway as different vendors try to craft solutions that meet DSCSA's requirements.

A possible solution for EHRs

Electronic health record management is an important application area for blockchain technology. It deals with data exchanges across various health sectors and ensures to protect the data's source, integrity, and privacy for accurate analysis and insights. EHR is an excellent example of the blockchain-based privacy-preserving prediction model. Facilities are now applying machine learning to study data in their EHRs and using the learned model to predict patient outcome. But since no facility has enough patient records, there's the need to share various data across organizations. However, they have to apply privacy-preserving prediction modeling methods – like blockchain to avoid re-identification and data breach risks. Blockchain stores medical records securely and allows real-time updates. It can also allow secure access for all permissible users.

Solution for medical staff credentialing

Credentialing can be time-consuming and expensive when done through snail mail, faxes, and phone calls. Since blockchain can be approved and updated in stages, it may be a perfect solution in the credentialing process. Credentialing smart contract is an excellent example of a possible blockchain application. A smart contract is a self-executing contract with terms of the agreement between parties written into code lines. It facilitates trusted agreements and transactions to be carried out among disparate, anonymous parties without the need for a legal system, central authority, or external enforcement mechanism. Smart contracts can be used:

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Solution to the need for sharing and privacy

Many blockchain-based features can help facilities strike a balance between privacy and sharing. For years, healthcare organizations have depended on policy to maintain patient data and siloed. But without technologies to resolve the sharing and privacy issues, these organizations risk compromising data. In the coming years, blockchain will take care of such issues, allowing facilities to share critical data without the fear of breach and arising suits. This is thanks to its ability to audit who, when, and where the data is used.

On top of that, the disruptive technology will enable open health data exchange markets run by patients. These markets will only have valuable, verified, and validated data from treatment outcomes, verified diagnostics, genetics, real-world evidence, etc. Permissioned blockchains will allow patients to decide how they want to use their data in exchange for health solutions and compensation.

Adoption of blockchain in healthcare

The perception that blockchain is fairy a new technology and closely linked to the Bitcoin cryptocurrency, hinders its adoption within the healthcare community. Besides, the technology cost can be high. The proof of work, for instance, consumes a large amount of computational power. Again, blockchain doesn't remove or replace modified records but adds blocks to the chain to represent modifications and deletions, which adds to the storage problem.

With that said, blockchain absolutely is a viable technology. And while it could take years for its practical application across the industry, blockchain adoption has already taken off with financial institutions and in dozens of companies. For instance, IBM is using AI to detect patterns with Block Chains to help find treatments or remedies for specific diseases. Mount Sinai also uses blockchain in AI to rapidly read chest CAT Scans of potential COVID-19 patients. There is no telling what the future holds, but we know that blockchain will immensely disrupt the healthcare sector, perhaps for the better.

 

Be Protected Online: 6 Tips to Protect Cybersecurity For Healthcare Staff

Cybercrime continues to be a significant concern across many industries, and healthcare is among its biggest targets. A 2018 State of Cybersecurity in Healthcare study by Horizon revealed that 100% of web applications linked to critical health details are vulnerable to attacks. Network penetration results also pointed out that cyber-attackers could easily access domain-level admin privileges of most healthcare applications.

The chronic underinvestment in advanced cybersecurity technologies has left many health care facilities so exposed that they cannot even detect cyberattacks when they happen. Since hackers may attack in a matter of seconds, it sometimes takes facilities weeks or even months to detect a breach, contain it and deploy resources to prevent the same attack from happening.

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Online data security is paramount in the healthcare and senior care industry.

Cybercriminals target health facilities for a range of reasons, but the main ones include:

Verizon’s 2016 Data Breach Investigations Report revealed that most attacks are about money, and cyber attackers often take the easiest route to assess the data they need. Sensitive data, like medical records are highly valued by identity thieves looking to sell identities on the black market. And since health care facilities are easy target, it explains why they account for 25% of all data breaches annually.

Facilities – including those that specialize in senior care – continue to face threats like:

Although cyber attackers are smart and fly under the radar, healthcare facilities can increase their security fast. Here are some cybersecurity tips for outsmarting attackers:

Install a firewall

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A firewall can protect your facility's network from outside attacks.

A firewall is a firmware or software that prevents unauthorized access to a network – think of it as a gatekeeper. It is the first line of defense against unauthorized access and malicious attacks as it inspects incoming and outgoing traffic to detect and block threats. Senior care facilities can install a firewall at their network perimeter to safeguard against threats and record events to identify patterns and improve rule sets. Firewalls protect networks from worms and viruses along with rootkits and phishing tools.

Update operating systems and software

Most impactful cyber-attacks have one thing in common – they target vulnerabilities in outdated operating systems and software. The Equifax and BA hacks are good examples of successful attacks on unpatched systems. Both these cases were easily preventable. They had access to software updates but neglected to download and install them.

Cybersecurity is only as strong as its weakest link. If a senior care facility uses outdated software or systems, endpoints become susceptible to attacks even from the most unskilled hackers. Luckily, facilities can prevent attacks with regular system and software updates.

Create a strong username and passwords

Strong usernames and passwords are essential to keep the facility’s devices safe. These devices hold information about patients and their prescription drugs, histories, billing, etc., which hackers’ favor.

Senior living facilities need to set solid passwords – those that are free of any identifying information. A strong password should leave out addresses, phone numbers, family names, first names, and real words as attackers easily deduce them. Instead, it should possess a combination of lowercase and uppercase letters, random symbols and numbers.

Those who have a hard time coming up with hard-to-crack login information can use online tools that generate strong passwords. Once a password is created, it should not be shared with anyone. It could easily land in the wrong hands, especially since 53% of cyber-attacks are from within. Experts also recommend using a password manager to store all passwords instead of writing them in books.

Use a VPN

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A virtual private network, or VPN can mask your identity online and protect private information.

Virtual Private Network (VPN) is a network built by use of public wires – often the internet – to connect regional offices or remote users to a facility’s private, internal network. It is used by facilities to secure their digital information and internet activity. A VPN can help boost cybersecurity by:

Protect mobile devices

Senior living facilities can monitor and protect facility phones. But it can be a little bit challenging when it comes to individual phones. Older adults who have their smartphones may want to access social media or download stuff, which may expose them to attacks. The same applies to when they need financial assistance from staff members or even strangers. Therefore, it is good to train them on cybersecurity matters to avoid a breach. It also pays to control in-person access so that only trusted members can visit the elderly.

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Mobile devices are popular targets of hackers. Understanding how cybercriminals access your network is crucial.

Maintain good computer habits

Facilities should maintain all IT systems, including the EHR systems, to function correctly and reliably. Maintenance includes things like configuration management, operation system (OS) maintenance, and software maintenance. These involve a range of things, like

Create and maintain backups

Backups are more like the last line of defense – should everything else fail. If the attackers manage to penetrate through all the tight security features, the backup will come in handy. Malware attacks are known to delete or even corrupt files. But backup ensures that information is readily available. However, facilities should check and test the backup device regularly to make sure everything is working correctly. The last thing they’d want to deal with after an attack is to realize the previous backup was months ago.

These are a just few of our suggestions for protecting your data security at your healthcare facility. It may be a good idea to speak with your IT specialist about the steps they are taking to protect your facility's private health information from cybercrime attacks.

 

 

Is Blockchain Just for Cryptocurrencies?

Blockchain technology is an online database that offers information to organizations and enables them to record their transactions easily. The database is encrypted, so all communications are done between the organization and the peer-to-peer network only when it’s veritable.

The technology offers an excellent way to transfer data from point X to Y without worrying about false data being stored in the database because that would falsify the whole chain of millions of instances. Blockchain provides accountability since the transactions recorded pass through multiple-party verification and no transaction in the database can be changed by the parties later on.

What is blockchain technology?

As the name implies, blockchain is essentially blocks of encrypted data stored in a database (or ledger). Many would like to think of it as a robust spreadsheet. A single block of data links to a previous block, thus forming a chain. What makes blockchain unique is the fact that it’s a network of interconnected computers that don’t depend on a centralized entity to execute interactions.

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A central authority manages most databases that keep financial information. But with the blockchain database, the ledger is amended and updated communally by all the computers that are connected in the network. Since the records are held communally, no financial institution or computer is in charge. So, if a single computer in the system gets knocked offline or is hacked, the others can still function without it.

Advantages and disadvantages of blockchain

Pros

Cons

Blockchain and cryptocurrencies

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In the context of cryptocurrencies, blockchain features a stable chain of blocks, each with a list of previously approved transactions. The blockchain network works as a decentralized ledger because its run by a network of computers spread worldwide. So, each participant (node) holds a copy of the blockchain data and communicates with the others to make sure they are all on the same page.

Blockchain transaction happens within a peer-to-peer network and is what makes Bitcoin and other cryptocurrencies decentralized digital currencies that are borderless and censorship-resistant. The whole point of using this technology is to allow people – especially those who don’t trust each other – to share critical data in a secure and tamper-proof manner. This is because blockchain technology holds data using innovative software and sophisticated math functions that are extremely difficult for hackers to manipulate.

Is blockchain just for cryptocurrencies? 

One of the first real-world uses of blockchain technology was in Bitcoin, a virtual currency that was announced in 2008 by Satoshi Nakamoto (pseudonym). But these types of projects are not tied to the Bitcoin network alone. In fact, most blockchains have nothing to do with Bitcoin. Once the Bitcoin blockchain had been around for a while – successfully recording all Bitcoin transactions and surviving vast attacks – many entrepreneurs and programmers wondered if the Bitcoin data security design might be applied to create other types of secure databases, unrelated to Bitcoin.

Today, startups, SMEs, and large scale companies across different types of fields are increasingly integrating blockchain into their daily operations. It is now widely used in banking and finance to facilitate payments, improve capital markets, trade finance, deter money laundering, and in insurance. It also has applications in business, especially in areas like healthcare, supply chain management, real estate, media, and energy. The government, too, can use the technology for record management, identity management, taxes, voting, regulatory/compliance oversight and a virtually infinite amount of other types of real-world applications.

Blockchain’s best features for corporations

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The growing applications and use cases of blockchain technology

Healthcare industry

One of the main challenges that healthcare professionals face is to share information across platforms securely. A seamless flow of data between providers could increase the chances of accurate diagnoses and effective treatment. It’ll also lower the cost of healthcare. Blockchain technology allows healthcare institutions and other related parties to share network access without affecting the integrity or security of data.

Critical infrastructure security

The internet infrastructure has proven vulnerable to attacks, particularly when it comes to the Internet of Things (IoT) devices. Since critical infrastructures like transportation and power plants have connected sensors, there’s a heightened risk to the civil society. Luckily, some companies are using the tamper-proof database to share critical information across their networks. Others are using blockchain to offer massive scale data authentication. A good example is using blockchain powered Keyless Signature Infrastructure (KSI) to tag and verify data transactions.

Supply chain management 

The supply chain involves a series of transaction nodes that connect to move goods from one point to another. The technology allows businesses to document transactions in a decentralized record, thus limiting delays, human errors, and added costs. Different companies are coming up with blockchain-based products that enable enterprises to engage clients at the point-of-sale with data collected collaboratively from suppliers along the supply chain.

Blockchain and Internet of Things (IoT)

Blockchain technology decentralizes cloud services, therefore increasing security, connectivity, and computational power. This solves the inefficiency problems – especially those surrounding data storage and computational resources – that are associated with launching IoT products.

Blockchain and cloud storage

Companies that provide cloud storage usually keep clients’ data in one secure server, which makes it vulnerable to attacks. Blockchain cloud storage services decentralize data storage, making it less prone to hacks that can lead to systemic damage and colossal data loss. Companies are now providing blockchain-enabled cloud storage to enhance security and also reduce the cost of storing data in the cloud.

Blockchain ensures the security of data. The information stored in blockchain is fully decentralized since it’s kept in multiple nodes across the globe rather than in a single place. This addresses the concern of data protection in case there’s an error or breach. Records that are uploaded in blockchain aren’t accessible to or controlled by an individual. But each party holding the data has a private key that they can use to access the encrypted files. So, even if a hacker gets to access a folder, he/she will only see a partial file –which won’t be useful. That’s why industries, other than cryptocurrencies, are taking advantage of blockchain to enhance their operations.