A person in his lifetime can visit multiple doctors each for different ailments, or they might change doctors while moving from one geographical location to other or even if they are not satisfied with their current doctor. But the hassles associated with changing doctors is that , the patient’s medical data remains fragmented amongst various organisations and no one can access the data possessed by other doctors without paying money or without going through long list of formalities.
On other hand there are many pharmaceutical companies which are struggling to find a study group sample for their further studies on understanding of diseases.
Medi Chain is the solution to this problem.
CONCEPT:
Medi Chain in simple words will be a Medical-Big-Data-Platform where the users can store their medical data – ranging from doctor reports to scans to prescription or even purchase of any non prescription medicine. This data will be stored on the Blockchain and can be accessed by anyone who has the application and also has the patient’s permission to access the cryptographic keys and the medical information. The doctor too can log in the patients data. This data can then be used up by a pharmaceutical and research companies who will pay for users data. It creates a win-win situation for both the parties involved.
This application is patient –centric, which means its giving the patients the control of their data- whether they choose to keep it to themselves or monetize to gain out of it depends entirely on them.
WORKING:
The working is as follows
Patient will use the services of doctor and store their medical data by themselves using their cryptographic keys through the app.
Or, if the doctor is using the app can upload the same medical data for the patient and become a part of the patient’s record. Otherwise if they aren’t on the system they can provide the report through any electronic system they are using for giving away the record and become a part of patients off- chain record.
Now the medical data to be integrated doesn’t include just medical records but also data from other sources –eg from wearable health monitors.
Now the pharmacy/research comes into picture, they can buy this data only if the patient wants to monetize it.
Here comes the interesting part - utility tokens (here MediChain Utility Tokens or MCU).
The MCU will be representing data and as the number of tokens will be fixed, greater the value of data, greater will be value of each token.
While patients have the option to pay for any medical service through money, they can even pay through the tokens.
Same goes for Pharmacy companies, when they want to buy data they will pay Medi Chain, who will in turn pay for buying tokens and data from patients and then pass off the data to research company.
FEATURES
• The patient’s data that is given out is in anonymous form, in the sense that the patient won’t be trackable even with his medical information with companies.
• The application uses smart contract for transferring patients data to researchers or pharmacy companies- what the application does is that it converts the money they receive from companies into token and then they transfer it to a smart contract . This smart contract receives a message with address and hash of patient’s data which will be added to the delivery result. After this all the data is compiled into a single package and then delivered to the company.
• Another attractive feature is that the patients whose data was purchased receive some tokens and some tokens are also given to providers who might have helped in adding the patients info on system.
• Another feature of this application is the quick speed it is planning to offer . They are doing this by working on a system that has designed by Mark Baker and will soon be patented. This system will help in parallel processing of the medical Blockchain. And this will thus help in speeding up transactions up to a theoretical increase of 14,400 times with the data planned.
• They are also working at predictive modelling, which means that the application will learn from the data input by the patient and predicts the future behaviour.
• A prototype is available which has restricted features of the final product and can be tested by people interested in the application
TEAM
Dr Mark Baker: CEO & Founder: He has graduated from Oxford and after that he worked on Data Driven Medical and Healthcare related projects followed by working on big data in Pharmaceutical Development thereafter at Cryptography and Machine .
Dr Nicolas Roydon Smoll: Medical Doctor, Epidemiologist/Big DataAnalysist -He is not only an experienced clinician but also academic and is currently developing software on a web-based eHR app u for clinical and research usage.
Ron Cafferky : Electronic Health Records Specialist - He has a bachelor’s degree focused in computer science and is experienced in clinical informatics and has previously worked in the hospital & health care industry..
Katy Blackwell : Chief of Operations- She is a highly experienced attorney and has a business in consulting for operations and also deals in contract negotiations.
VERDICT:
This application is very similar to a few more ICO’s which are somewhat providing the same product –access to patients information on Blockchain “Medical Chain” “MediBlock” .
There is nothing new in their offering apart from the claims that they are planning to improve the speed constraint by working on a system that has designed by Mark Baker and will soon be patented- However when they were asked the same on their telegram group there was no surety about the answer.
Another thing to be noted is the telegram team has no idea about the project or its working , which can put great doubt in any potential interested persons mind about authenticity of the whitepaper.
All in all, the underlying concept is common and there is no solid reason as to why an investor will chose this project over others.
LINKS:
Website: https://medichain.online/
Whitepaper: https://medichain.online/
Facebook: https://www.facebook.com/MediChain.Online/
Twitter: https://twitter.com/medichainonline
Telegram: https://t.me/medichainonline_group
TOKEN MATRIX
Token Symbol : MCU
Token Type : ERC20
ICO Token Price
1 MCU = 1 USD
Soft Cap= 2,000,000 USD
Hard Cap 40,000,000 USD
Platform: ETHEREUM
Total Tokens : 100,000,000
Whitelist: YES JOIN THE WHITELIST
Know Your Customer (KYC):YES
Countries that can't Participate:UNITED STATES
Accepts:BTC, ETH, USD, LTC, DASH, BCH, NEO, ZEC