As issues at the moment stand, most hospitals across the globe use centralized servers to retailer affected person medical information. This severely restricts information sharing alternatives between healthcare professionals and reduces the alternative for sourcing third-party opinions to higher care for people. Instead, now we have legal guidelines resembling HIPAA (Health Insurance Portability and Accountability Act) which prohibit the sharing of affected person information between medical doctors, medical service staff, and researchers, thus blocking high-quality medical help from reaching sufferers who’re in want.
MediBloc is an open-source platform that makes use of a healthcare ecosystem constructed completely on the Ethereum blockchain. Owing to its decentralized nature, it permits for open interactions between sufferers, medical consultants, and researchers. From a practical standpoint, MediBloc permits customers to freely observe their medical information together with their well being information and physician visitations.
The platform accumulates all of 1’s delicate health-related data right into a single information financial institution which might then be shared reliably with consultants in a very discreet, non-public method. Additionally, MediBloc makes use of its personal financial system so as to facilitate record-sharing via an incentive-based monetary mannequin. Rewards will be obtained by each caregivers and sufferers, and the native tokens may also be used to facilitate inside transactions like insurance coverage funds and pharmacy costs.
Overview of MediBloc
- Offers sufferers a brand new method of interacting with medical consultants
- All information are maintained on a clear community
- Has enormous future market potential (the US healthcare market alone at the moment rakes in an annual income of $2 trillion)
- Has an intuitive interface
MediBloc was designed to make healthcare extra accessible to sufferers via using a redistributed information possession mannequin. What this mainly means is that hospitals not have a monopoly over a affected person’s healthcare information, and medical information are positioned again within the palms of the people themselves.
Another key function of MediBloc is its use of a knowledge loss protocol that ensures all delicate data is saved on a decentralized community always. Not solely that, solely licensed healthcare personnel are given entry to the blockchain, thereby minimizing the potential for unethical report alteration or tampering.
MediBloc consumer interface
Through using a token reward system, sufferers in addition to medical doctors can obtain incentives within the type of native currencies. Moreover, MediBloc is a cross-border platform, and thus isn’t restricted by issues of geographic distance. It was created to facilitate real-time information trade between sufferers and consultants throughout the globe, which makes prognosis and remedy way more streamlined and error-free.
How MediBloc Works
This platform was created on the EVM and has three elements that tackle key features of the system’s total performance. They embody the Core, Service and App layers.
MediBloc’s layer construction (from the official whitepaper)
Each of those layers is designed to carry very important data and course of information as wanted. For instance, the Core layer is designed to safeguard all of 1’s medical data saved inside the system. This is finished utilizing new encryption protocols which cryptographically lock all information through a non-public key (which might solely be accessed by the affected person).
Similarly, the Service layer serves as an middleman between the App and Core layers. Its coding facilitates seamless information trade and permits for the execution of sensible contracts inside the MediBloc ecosystem.
Simple illustration of the MediBloc working precept
MediBloc’s Application layer permits customers to entry varied native and third-party apps so as to handle and regulate private information in a straightforward and efficient method.
Lastly, it needs to be famous that this platform employs a Medi Point system (MP) that routinely tracks consumer participation and doles out related incentives and rewards accordingly. The MPs which are procured will be exchanged for MED tokens that may then be used to make funds and facilitate inside transactions.
Flowchart explaining the Medi Point system (from the official whitepaper)
The origins of MediBloc will be traced again to October 2017, when the corporate first launched its roadmap and whitepaper to the general public. Since then, the venture has garnered loads of momentum and it’s anticipated that by May 2018, the MediBloc SDK might be made out there for business use.
The venture is the brainchild of Dr. Allen Kho and Dr. Eunsol Lee. Dr. Kho additionally serves because the enterprise growth head of the corporate and beforehand labored at Samsung as a lead engineer. Dr. Lee is an authorized doctor and holds a medical diploma from Hanyang University. Other key personnel embody Chae Ho Shin and Saehan Park, who are the platform’s back and front finish builders, respectively.
Token Performance History
Since its introduction to the buying and selling markets in December of final 12 months, the worth of a single MED token has just about stayed the identical.
MED token lifetime efficiency chart (courtesy of CoinMarketCap)
As will be seen within the chart above, the preliminary worth of a single MED token (on the 25th of December, 2017) was US$zero.054. Its worth at the moment stands at US$zero.050.
MED’s all-time excessive was reached on the 10th of January, 2018 when the value of 1 coin touched US$zero.22.
With statistical information exhibiting that losses in extra of $6 billion each year are incurred by the US healthcare system, it could not be shocking to see a steep rise within the worth of the MED token in 2018.
Since this platform goals to restructure the stability of energy inside the medical area, it has critical market potential within the close to future. Currently, solely two on-line exchanges help the buying and selling of MED: Coinrail and Gate.io.