MediBloc – Disrupting the way we handle electronic medical data
MediBloc - Cryptocurrency Review
The current healthcare model is fragmented and poorly coordinated, which causes many inefficiencies in healthcare. For instance, have you ever visited a hospital, gotten blood work collected then followed up with your primary care doctor only to then be sent to a lab in order to have blood work collected again? What about test or procedures? In many cases the reasons for this inefficient healthcare system in the current model is because your information is not transferable from one healthcare setting to another.
Now yes, you or your provider may call in order to get your medical records sent from one medical facility to another but this process is time consuming and inefficient. This inefficient exchange of medical information is due to incompatibilities in the current system.
According to the U.S. Center for Disease Control and Prevention (CDC), only about 50% of all medical institutions have an electronic medical record or electronic health record system in place. This lack of digitalization of data causes many errors in healthcare and is overall extremely inefficient.
In addition, government regulation considers private healthcare information, HIPAA (Health Insurance Portability and Accountability Act), highly classified information. According to HIPPA, sharing medical information is only allowed between medical facilities to a minimum level, and only when the information is necessary to share.
Thus, overall, the current healthcare system is fragmented due to a lack of autonomously utilized healthcare information. The reason for this lack of autonomously utilized healthcare information is due a lack of digital data security, which increases the possibility of data breaches, personal information leakage, and thus HIPAA breaches. In fact, in 2015, more than 112 million healthcare records were breached resulting in a financial loss of over $6.2 billion in the United States alone.
MediBloc – The New Medical Information System
MediBloc’s aim is to improve healthcare access by enhancing access to personalized healthcare data. Using blockchain technology, MediBloc is planning to re-shape the healthcare data system to be consumer-centered by providing a personal health record platform.
The MediBloc team has designed an interoperable healthcare data system that is both secure and transparent. Thereby empowering patients by providing real time access to their own healthcare data records. Nonetheless, using the MediBloc dataset, healthcare professionals and other stakeholders can build a variety of health-related applications and services. This can be achieved by using the open-source API and SDK to create services using the MediBloc platform. In addition, MediBloc uses Medi token (MED), which will help to build a medical information economic ecosystem centered around the consumer.
The MediBloc platform consist of three layers
1.) The Core is a healthcare data network with a distributed database that utilizes the lastest in encryption technology. This data is generated and transferred using the MediBloc-SDK which ensures the data is encrypted, allowing only the owner of the data to decrypt it using a private key.
2.) The Service layer connects the Application layer and Core layers. This Service layer utilizes blockchain based smart contracts, which allows for data input/output, effectively connecting the Core layer and the Application layer.
3.) The Application Layer is an EVM-based decentralized application (DApp), which makes it compatible with multiple platforms such as Ethereum, Qtum, and EOS.
Medi Token
The MediBloc platform will utilize MP within the system, which is a points based system that measures users participations within the platform and provides a reputational score within the MediBloc ecosystem. Thus, the MP score will be an indicator of the amount of contribution of a user to the MediBloc ecosystem. Much the same way as the reputation score used within Steemit. The photo below illustrates the acquisition and utilization of points within the MediBloc system.
- MP is rewarded to medical practitioners for creating medical records
- MP is rewarded to general users to manage personal healthcare information
- MP is rewarded for all activities within the platform to encourage continued activity.
The collected MPs can then be converted to MED after a 3 month reservation period. Much the Steem Power is non-transferable and requires 3 months to convert back to Steem. MED and MP can also be utilized to pay for the cost of services associated with the platform, thereby supporting the socio-economic ecosystem of MediBloc.
For more information on the uses of MediBloc such as within automatic insurance claims, P2P healthcare data, artificial intelligence, clinical trials, telemedicine, and social networking services you can visit the whitepaper.
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