Blockchain technology has successively broadened and has become one of the most popular innovation in the field of technology. The blockchain is now a mature field which is now being spun out into various applications and the definition says ‘The Blockchain is a public ledger for recording every transaction happening in a particular network'.

Here are some of the most familiar properties of Blockchain:
    1. Digitalized
    2. Decentralized
    3. Democratic
    4. Distributed ledger
    5. Transparent
    6. Immutable and Indelible
    7. Trackable
    8. Auditable
    9. Safe and secure
    10. Efficient
    11. Scalable
    12. Economical

    The blockchain is a distributed ledger, which can be used for recording transactions and storing transaction details. It tracks every asset placed on a network. There is no central authority in a blockchain system, meaning all transactions are recorded, stored and shared overall network participants. The applications of Blockchain are expanding beyond all the initially defined possibilities, For eg. trading, file storage, identity management, medical records management, and education etc.

    Through this blog, Let's look at how pivotal this new form of technology will help the healthcare industry grow.
   
    An accurate medical record is essential for proper healthcare management. Perfect medical records are fundamental for the care and safety of patients. One cannot consult his health with the same medical expert throughout his life. Sooner or later of life, he may need to approach some other specialist too. So the past medical records need to be displayed to the new one.

    The healthcare industry is completely immersed in data like clinical trials, patient medical verification, complex billing, medical research, drug development and more.

Let us take an in-depth dive of blockchain in healthcare industry.

'Globalization includes expanding economies around the globe, transacting cross-border trade across national to international levels, advancing worldwide exchange of goods and services, people, information, technology, capital and so on.'

    It has benefited the interaction between individuals and companies on a worldwide scale.

    Whenever the goods and services involved in cross-border trade, data should be passed between appropriate parties, regardless of whether privately owned businesses or open bodies, including providers, customs, regulative and administrative offices, dealers and purchasers. Though the transfer is between the two parties, it is the collaboration between two potential partners in the vast geographical area, time zones, and boundaries.

    However,  cross-border trade has a lot of barriers to reducing this process and improving unnecessary costs. The main problem is the handling of documents relating to fraud, human misconduct, mismanagement in shipping, and delayed removal of unwanted expenses. The documentation revolves around zillions of international business transactions. The three major documents include-

    1.Commercial documents
    2.Transparent documents
    3.Government customs documents
 
http://www.blockchainexpert.uk/blog/cross-border-trade-blockchain
 
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