Review of Zcash and Potential Applications for the Healthcare Industry


Zcash for the healthcare industry, providing ultimate privacy for patients and providers

Review: Zcash, additional privacy for medical transactions.

Zcash is the latest bitcoin-derived cryptocurrency, rolled out on Friday October 28 of 2016. Where Zcash differs from other cryptocurrencies is that all transactions offer full anonymity with every transaction. This privacy is further guaranteed by the use of public blockchain structures as the platforms of use.

Complex cryptography to create true financial privacy.

Zcash goes even further in providing private transactions by employing a form of cryptography called zero-knowledge proofs. Without getting too deep in the crypto speech, what zero -knowledge proofs create is the knowledge that something happened, but the outside observer has no way of knowing any particulars about that event.

An example of Zcash

You start with ten wallets with one bitcoin each in them. 2 users employ Zcash transparency protocols. What is recorded on the blockchain is 10 bitcoins, 2 of them shielded. This is an oversimplification, but you get the picture.

Who needs this kind of privacy?

Lots of people. The era of cryptocurrencies being associated with nefarious deeds and transactions is ending. Here are some examples of people wishing to shield their financial transactions from scrutiny.

  1. Families wanting to shield the health status of one or more members from their insurance company.
  2. Patients paying for sensitive medical procedures that they want to hide from scrutiny. This can include plastic surgery, vasectomies, etc.
  3. A health care company that wants to protect the privacy of their patients medical records and status.

Zcash and the Ethereum blockchain.

The newest update of the Ethereum blockchain will include almost full functionality with Zcash protocols. Ethereum blockchain technology is revolutionizing the healthcare industry for the better. As Zcash protocols thrive and diversify, all blockchain applications will start providing zero knowledge proof technology to their clients large and small.

Decentralizing the health care industry for superior security.

Most noteworthy, blockchain technology and applications like Zcash make it easier for the individual or health care provider to access secure and private networks for their patient data and transactions. This creates a situation where both end-user and recipient benefit

In conclusion

Blockchain technology is changing the way health-care professionals and organizations do business. From providing better security and safety protocols for patient records and transactions to creating safe data storage for massive amounts of patient data, health care providers are leaping onto the blockchain bandwagon. Any additional structure that aids in that process is a welcome. Zcash is another tweak to provide stable security and privacy during medical transactions.