Medibloc ( Rethinking Medical Data With Blockchain Technology
In this article we shall look into a new Blockchain based project called Medibloc which strives to reinvent the medical data field.
Table of content.
- Introduction
- What Is Medibloc?
- Platform Overwiew
- How Medibloc will change the medical data industry
- People Having Control of Their Medical Records ( Use Case)
- Blockchain Data Storage of Medical Records VS Traditional Methods.
- Established Partners with Major Corporations Once the Main-net is launched.
- The Team
- Final Thoughts
1. Introduction
2. What Is Medibloc
- Med Token is used to reward patients for sharing their info with researchers.
- It is used by patients to pay for insurance coverage.
- Used by practitioners to list themselves on the system and pay for advertising.
- Used to reward anyone that brings value to the system and is trade-able on exchanges.
Mission Statement
Improve healthcare access and experience by redistributing value of personal healthcare data,
accelerating the world’s shift to private information decentralization.
3. Platform overview
The Medibloc system will incorporate a Personal Health Record (PHR) platform run partially on Medibloc's own personal Blockchain in the form of an EVM ( Ethereum Virtual Machine) DApp which is the same smart contract development used for Etheruem, Quntom and EOS, making it quite possible to pivot between blockchains if need be . Most information will be stored off the blockchain however the hash value is stored on the blockchain so it is backed up and easy to identify . The patient is at the core of the system and rightfully so. Medibloc encrypts data using a private key that can only be decrypted by the owner making the system very secure and reliable. Personal devices such as smartphones and PCs will be the primary storage and Medibloc the incorruptible back up.
The platform has three categories of information
- MED balance
- Personal information
- Healthcare data.
Three different types of accounts that can be created using Medibloc's are:
- General user
- Healthcare provider
- Data Researchers
Medical facilities can integrate their current system to the platform using APIs and SDKs. Researches can also integrate into the system. Medical practitioners and institutions must give proof of certification which gives them validity in the system.
4.How Medibloc will impact the medical data industry
Medibloc will change the medical data industry by putting the data in the hands of the people it belongs to and giving them the power to decided how and when it is used.
By doing this, Medibloc is giving the customer ( the patient) what they need before they even know that they need it, changing the dynamics of the entire industry.
Everyone will be able to serve the customer better through Medibloc.
Doctors will be able to get the information they need swiftly in order to do what they need to do to help patients. Medibloc information is easily transferable between medical facilities. They will also be able to advertise their services on the platform reaching the right customers through targeting.
Insurance companies will be able to lower the cost of health insurance for the patients because fraud which cost them billions of dollars yearly will be eliminated due to the nature of blockchain technology ( That is, if they want to lower the cost). They will also be able to gather credible information. Patients will also have rates of different insurance companies at their fingertips and they can easily join and pay for coverage using Med Tokens. Patients'medical bills will automatically be sent to their insurance company once they are on the platform.
Researchers can also get the information they need to carry out their work ethically by getting information direct form patients and rewarding them for doing so. Researchers will have a wealth of trustworthy and constant information available to them to carry out work to better the health of patients in the form of new procedures, new drugs and general knowledge.
Just by putting the data in the hands of the individual, the entire industry flourishes and the patients are better served as a result. The patients now have full access to their medical history. We shall discus the benefits of patients having control of their medical records in the following section.
5. People having control of their Medical records ( A use case)
"중지" (STOP!), the doctor shouts and stops the nurse from administering aspirin. On further check of Mr Suziki's records, they realize a doctor in Japan used Rivaroxaban successfully with the patient and quickly administers the drug to Mr. Suzuki. He is feeling much better, the doctors check Mr. Suzuki's last few blood pressure logs on the Medibloc platform and realize the last 3 logs from his smartwatch were high. They decide to keep Mr Suzuki at the hospital for observation while administering treatments other doctors gave him successfully in the past. While recovering at the hospital, Mr Suzuki decides to sell his medical information to various researchers to earn Med Tokens. He then looks to see if this medical emergency will be covered by his insurance company. To his surprise, the bill was automatically sent to his insurance company through the Medibloc platform via smart contract. Mr Suzuki is pleased with MediBloc and the hospital's service, but he wants to get a second opinion because the doctor now thinks he needs surgery. So he shares his current information with his doctor in Japan for a second opinion. He patiently waits.
6. Blockchain Data Storage of medical records VS traditional methods
The current system has so many flaws that MediBloc will fix. I saw it best to illustrate this in the form of a table to give a clear vision of what MediBloc has to offer. See below.
Traditional medical data | Medibloc medical data |
---|---|
Information not transferrable | Information flows easily through the blockchian |
Centered around medical institutions and insurance companies | Centered around the patient |
Information is centralized, stored by individual healthcare providers, according to government regulations (HIPAA privacy rules) and is hard to access | Information is easy to access as it is decentralized on the internet and is in the hands of the patients who grant access to others |
Information moves slow to those who need it ( patients and Doctors) due to regulations | Information moves swiftly as the patient is in control and can grant access easily |
No guarantee of reliable information | Highly reliable information due to blockchain |
High risk of data loss or hacks | Low risk of hacks and data loss as all is backed up and encrypted. |
Patients have no control over their medical info and how it is used | Patients have full control and determine how their information is used. |
115M record breaches in 2015 cost the USA $6.2B | Breaches are eliminated reducing cost pushed onto patients |
Fraud cost insurance companies $487B worldwide in 2011 | Reduced insurance rates for the patients worldwide |
Researches have a hard time obtaining relevant and ethical information | Researches have access to direct patient information and it is ethical. |
Patients are not rewarded for sharing their information and may not know it is being shared | Patients are rewarded in MED tokens for sharing info with interested parties. |
Not transparent, no one knows exactly who accessed, edited or provided information | All is transparent, we know who did what and when |
No interoperability of the current data systems | Fully interoperable, highly scalable and ease of integration of any system |
Patients can manipulate the system and get their hands on large amounts of drugs | Everything the patient does at various medical facilities is logged. Though the information is private, they can't cheat the system |
Medical practitioners pay large sums to be listed in medical " yellow pages" | Minimal fees to list on Medibloc |
The current centralized system is prone to hacks and breaches, MediBloc keeps our medical data secure using blockchain technology.
7. Established partners with major corporations once the Mainnet is launched.
MediBloc already has huge parnerships within the industry including Hanyang University Medical Center one of the most prestigious medical institutions in Korea and Kyung Hee University Dental Hospital the third largest dental hospital in Korea as well as many other major institutions.
By having partnerships with these major institutions at the launch of the mainnet, it will drive adaptation of the system as others will see first hand how the system benefits all the parties involved. Any major flaws in the system if any, will be spotted early, before wide scale adoption. The extensive list of partners can give feedback on the system and they can hold mastermind sessions to iron out and sharpen the system to perfection. Most projects are not in the position to work with so many partners right after launch. This is a key advantage that will get the system running right, fast and set MediBloc apart form its competitors. These partnerships will also lead to more partners in Asia and eventually to the rest of the world.
8.The Team
This is only a representation of the extensive team at MediBloc. I didn't want to fill up the article with loads of faces. They look so happy and vibrant don't they? Team dynamics is important.
Dr. Eunsol Lee ( Left) Co-Founder, is in charge of System Architect and has experience with Software Engineering in finance and is a Medical Doctor Certified Physician in Biomedical Bioinformatics.
Dr. Allen Wookyun Kho ( right), Co-Founder, is in charge of Business Development and has software engineer experience at Samsung . He was also a Dental Surgeon. They are the perfect individuals to carry out such a grand idea as they have the necessary experience in the fields required. It seems like something meant to be, don’t you agree?.
Road Map
9. Final thoughts
This is the greatest real world use case for blockchain technology I have seen thus far. MediBloc is necessary to transform the current inefficient medical data industry in which insurance companies are the main beneficiaries. Patients should be the ones benefiting the most. The current system puts money over the welfare of individuals and this needs to stop. Doctors realise the need for MediBloc and many have invested in the project and are looking forward to its manifestation. Wouldn't you want to have power and control over your own medical records?
See the video below for a quick summary
For more information, see the links below
MediBloc WhitePaper (ENG)
MediBloc About, with Graphics
MediBloc Medium
MediBloc Twitter
MediBloc Facebook
MediBloc Github
MediBloc Telegram
medibloc2018
Interesting you really took your time with this one, unlike your last entry.
This takes the game to a whole new level. Might just follow this format of yours. Only reason you aren't the winner is personal/team preference. Still waiting to see you there. Cheers
Thanks man ,
My last entry the final draft got deleted by accident , still not sure how it happened, had to revert to an early version that sucked lol.
Yeah let’s see how many peeps gonna start doing this style. I think I started the bordering trend in this contest, folks took it and morphed it into something even greater.
Congrats to your consistency bro, you stay UP.
That sucks big time.
Will be paying extra attention to this space then :)
Thanks bro. Enjoy the rest of your weekend
To be honest, I loved this post.... especially your Mr Suzuki's story....
Is he still waiting?😏
Thanks man! Glad you loved it. Hahaha, Mr. Suzuki is doing fine, he won’t be needing that sugary, just rest and then some exercise 😉
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