Smart contracts are lines of code that are stored on a blockchain and automatically execute when predetermined terms and conditions are met, in this case a successful validation of medical video content. The benefits of smart contracts are most apparent in business collaborations, in which they are typically used to enforce some type of agreement so that all participants can be certain of the outcome without an intermediary’s involvement.
Blackchain & Smart Contracts on Quorum
Traceability and control is possible without the blockchain. There are for example services where you can look up the origin of fish at www.thisfish. info or with fTRACE. However, there are three major benefits with the blockchain:
The data cannot be manipulated, transactions are immutable;
The medical professional, patient, educator or student can secure traceability and control without all participants disclosing all their details to a central party. The level of privacy to enforce can be decided by the participants;
The blockchain creates trust in low cost IT solutions. You can use email, Word, mobile phones etc. and still be sure data is accurate. This allows for example medical staff and patients in rural or less developed areas to consume content with trust and engage with the system.