Blockchain Technology as a Decentralized Solution for Data Security and Privacy: Applications Beyond Cryptocurrencies in Supply Chain Management and Healthcare

Decentralized and promising, blockchain technology brings enhanced security for data along with privacy issues particularly in health and supply chains. Here, we aim to show the usage of blockchain towards the secure data of devices that come under Internet of Medical Things or IoMT by providing data integrity and further sensitive medical information protection. A secure, transparent, and tamper-proof system in health care management can be supported by an IoT framework that uses blockchain. Four data security and privacy algorithms based on blockchain have been considered and tested with excellent results to show a clear indication of how much prevention in un-authorized access can be done in ensuring authenticity, tracking products in the medical supply chain. Some experiments were demonstrated where the blockchain-enabled system had reduced the data breach by 95% from traditional systems. Supply chain traceability had improved by 92%. The combination of machine learning and blockchain increased real-time threat detection by 88%. The outcome shows that blockchain can deal with problems like tampering, privacy violation, and counterfeiting in medical products. However, scalability of applications and adoption by regulators are two major challenges towards full integration. This paper aids in the development of a complete holistic framework that may make use of the usage of blockchain to secure health care and other supply chain systems to allow further avenues for digitizing data safety.