Atif Farid Mohammad & Waseem Ahmed
In today’s complex environment organizations are embarking on Digital Transformation journey. Compared to existing systems, blockchains are faster, cheaper, more reliable, and much more secure. For example, in healthcare, patients often have medical history scattered among various medical records maintained in several health-care establishments. The data is available only in the scope of those specific systems. Having a Blockchain Medical Profile to store an individual’s medical profile that is accessible from anywhere at the time of need. This omnipresence of the medical data will be a boon for the field of medical informatics.
Similarly, in financial institutions, transactions that happens within and among financial institutions can be delivered, provided immediately, shared, and completely transparent stored on an immutable ledger via Blockchain technology.
The faster the information is received and the more accurate it is, the better. Blockchain is ideal for delivering that information because it provides immediate, shared and completely transparent information stored on an immutable ledger that can be accessed only by permissioned network members. Blockchain technology and its infrastructure (hardware, software, and facilities, connectivity, mobility, performance, and security and such can be easily deployed and managed using ITIL best practices.
Atif Farid Mohammad PhD, Adjunct Professor, Artificial Intelligence, Machine Learning, Blockchain, UNC Charlotte
Waseem Ahmed, VP IT Production Operations, Citibank NA