Smart Contract technology is bringing transparency and security to digital processes by disintermediation. A smart contract is a computer protocol which facilitates a transaction between parties through pre-defined terms which are locked into the digital contract. The terms of the contract are self-executing and cannot be manipulated or interfered with.
How Is PHC Utilizing Smart Contracts.
PHC is deploying smart contracts in its business processes to remove intermediaries from processes, to create better trust and transparency. If processes are auto executed based on terms, instead of human opinions, we can reduce errors, fraud and manipulation. For example, in our research programs, we use smart contracts to allow the sharing of non-identifiable data, which protects the patients’ identity but allows access to generic data for analysis.