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ICO MediChain — https://medichain.online

MediChain is aiming to revolutionise the way that patient data in Electronic Health Records (EHR) is stored and ultilised. Blockchain is the perfect application for EHR as it’s secure, anomimised and easy to access.

Before I go any deeper I just want to outline that MediChain is not the only company out there who are trying to put EHR on the blockchain, but that’s where the similarities end. MediChain has a massive point of difference that could solve not only existing EHR issues, but discover cures to the world’s most common diseases.

One of the biggest hurdles for mass adoption of a new EHR is the cost. Many existing systems not only have astronomical licencing costs, but they also have on-going fees that make it difficult for health care providers to utilise any one particular EHR platform. What makes MediChain different is that there is no cost for patients or medical institutions to use MediChain’s EHR system. While this may seem impossible as the infrastructure running costs would be expensive to say the least, MediChain’s EHR different.

The system is funded by medical researchers that pay to use anonymous patient medical data stored in their blockchain. What this means is that patients who store their medical record on MediChain’s EHR will be able to share their anonymous data to help find cures for diseases such as obesity, diabetes and heart failure. Research institutions who utilise patient data will pay MediChain using tokens which are then distributed to MediChain as well as the medical institutions who uploaded the data to the blockchain and most importantly the patients themselves. Basically everyone wins, researchers can leverage big data at lower costs, and users of the system are rewarded for enriching the system with new data.

You may be thinking, why you would want to hold this particular token as you may receive tokens for free by using the system? I imagine that the amount of tokens (or fractions of tokens) received from researchers will be very small — meaning that it would likely take a long time before you would receive any particular benefit — although those that are chronically ill may receive more tokens due to the fact their dataset would be larger and fit into more research programs (don’t quote me on this).

Token ownership (especially in larger quantities) has many benefits, and the largest of these would be the right to vote on future medical research grants. Basically what this means is that universities and institutions that may not be able to afford to use MediChain’s database could put forward a proposal to to receive a research grant. Imagine the feeling that you’ve been partially responsible for of a cure of a widespread disease simply by holding a token and voting on a medical grant. Also, if a significant medical breakthrough is found, that research would reference MediChain as their data source — meaning that the system would gain widespread knowledge in the medical field as a viable source of medical data.

Not only will token holders be able to vote on research grants, but they will also be able to utilise their tokens with participating medical services participating in the system. For example, you may break your arm and require an X-RAY — this could potentially be paid for with MediChain tokens.

Another benefit of token ownership is access to discounts with MediChain partners. As they are actively forming relationships with device manufacturers including Fitbit, you would be able to purchase health tracking devices at discounted prices. If you extrapolate from here, you could imagine that this could mean that these devices would link up with MediChain’s EHR database. This means that you wouldn’t even need to visit a doctor to enrich the system with new data.

Lastly, I want to outline the benefits for average people who use MediChain to store their EHR. The largest benefit would be that users have ownership and access to their medical history. I can’t imagine that many readers of this article would have access to their EHR easily. By having all of your medical history in one place, you would allow medical practitioners to provide better recommendations when receiving assessments. Many of us rely on our memory to recall previous medical issues when providing information to doctors which can potentially result in serious consequences. Another benefit to users of the system if implemented is that Medical Insurers could assess your EHR and provide you with the best suited policy without the need for unnecessary cover. Another patience use-case, is that if you were use a health tracking device and the MediChain system recognises a harmful trend in your health data, it could notify you early enough so that you could correct whatever issue is causing you harm.Hello guys, welcome back with “yenkkney”. Now, I will explain new project. Why this project looks interesting?

What is MediChain?

MediChain is a medical big-data platform. It allows patients to store their own data in a secure way and give access to specialists anywhere regardless of the payer network or EMR (Electronic Medical Record) used.

What is the plan?

Working from our existing demonstrator, MediChain system will be developed on an Ethereum framework with offchain data stored in secure clouds in appropriate regions. It will initially be launched in collaboration with a number of medical specialities such as epilepsy and rheumatology and specific diagnostic devices. The next phase will be building up the chain data warehouse through an open access API and medical partnerships. MediChain will then be made publically available through the API and through partners for data acquisition. Then an exchange will been developed to allow secure controlled anonymized data access to patient data.

What are the Tokens?

MediChain Utility Tokens (MCU) represent the value of arbitrary patient data blocks. MCU Utility tokens can be purchased via the platform during the tokens sale. A rule of thumb is that initially, the data from each consultation or piece of data is arbitrarily given a value in MCUs equal to buyer cost of the consultation in US dollars. Over time this value is adjusted for token availability, different data types, diseases, patient demographics etc., to reflect the buyer’s market. Data is available (subject to rules and anonymization) through one or more marketplaces to buyers.

How this tokens are used

Token Holder Benefits

Institutional Medical Data Services (including Diagnosis)
Medical Research Data Services
Any/All additional future business transactions on the MediChain Platform
Research Program Voting. Get the chance to determine the focus of future research
Personal Medical Data Storage and transfer
Personal Medical Data Services
MCU Discounts

Social Benefit

Population-based de-identified patient data has already produced advances against WHO top ten diseases such as obesity, diabetes, hypertension, and heart failure. Population data lets researchers tackle the big issues in medicine. By patients opting in and sharing their data, they promote the research breakthroughs that can one day improve their own health and help people who are suffering from similar health issues. Where there are commercial interests involved, such as drug development, the same applies, but pharmaceutical companies pay for the data and patients are paid for their contribution

What about emergency access to medical data in MediChain?

In an extended version of MediChain, information that is normally available to doctors in an emergency needs to be readily accessible even if the patient cannot give consent. Access needs to be customer defined with defaults consistent with current practice. It seems likely that most patients’ doctors will have access to the same level of records that they let them have now. Because there are multiple rules, the emergency services will have access to the level that the patient would normally grant them now (e.g. diagnostic levels). Neither of those levels would have mass access to raw data that might be useful to pharma or insurers and if necessary anonymity could be preserved while allowing access to the complete medical record.

What are the use of funds?

The funds are used to develop and promote the MediChain infrastructure and API and carry out the initial population of the chain with data which gives the chain market value. Promotion will be through wearable, desktop and kiosk devices including Apple Healthkit, Healmet Inc and through the Scripps Medical Research Center. A proportion of the development and promotion funds will be used to mature and integrate hardware used with the MediChain system including Smart Card ID systems and IoT devices.

Token Allocation

Total token : 100.000.000 MCU