The medical industry is in a new kind of crisis. It is the crisis of information. It affects the healthcare and medicine in the country. Doctors do not have access to the data they vitally need. No access is given in a straightforward manner. Data that could potentially be pioneering the cure of coming generations lies around untouched. It is just not accessible to even the top notch doctors. This isn’t about secrecy or classified information. The data flow just needs some corrections. The lack of proper data flow is costing hundreds of millions of dollars every day. Even worse, they cause loss of lives.
How big is the problem?
Putting things in context, pharma is multi-billion dollar industry. There are some big players in this industry. US pharma invests $157 billion annually for research. In spite of such investments, there is a lack of efficient data flow that causes medical errors. Medical errors have now become the third largest cause for loss of lives. It costs more than a trillion dollars in the US alone, as per BMJ and Boxer report. These are some of the problems MediChain wants to solve. They want to turn things on its head and they are turning head to blockchain technology.
How MediChain works?
Patient’s medical data will be encrypted and stored on public blockchain. Blockchain makes the data accessible and it is encrypted to secure patients data. Access is open to all and records can be created by any party. The structure of the blockchain helps integration in doctor’s office in minutes. It enables doctors and patients to update their records swiftly. Patient blockchain is designed to store complex data. These data comes from medical analysis and scans. A top ledger stores blockchains of patients in a distributed cloud environment.
All types of data are stored and appropriate type of data is made accessible. Patients can share data anonymously and still be rewarded for their contribution. Brilliants minds from Oxford and Cambridge universities are always working on the project. The native architecture of MediChain is scalable for the future. At MediChain you own your medical data and you can even make money from it. You control who gets access to your medical data. You transform from being just a pile of data to an active player in multi-billion dollar pharma industry. MediChain is the world’s most safe, private and accessible blockchain network.
ICO Details:
Crowdsale will be organized for tokens via icobox.io. The presale starts on 5th of February 2018. The ICO progress will be displayed on front page of website. The public crowd sale has clear soft cap and hard cap. The soft cap is $2 million and hard cap is $40 million. The tokens comply with ERC20 standard. They can be transferred to third party Ethereum wallet. The tokens offer you no right to ownership of the company. MCU tokens imply value of voting rights and patient data blocks. The proceeds from the ICO will be used for commercial version in 2018.
Conclusive Comments and Important Links:
Personally, I see Medichain as a really noble concept, not only it serves humanity by creating big data of patients, diseases, medicines and diagnosis, it will make the overall healthcare system more efficient, it will reduce interactions, adverse effects, wrong dosage, wrong diagnosis and many other problems in our present healthcare system, the biggest beneficiary will be the patient as the chances of recovery and treatment will be increased and cost will be significantly reduced due to efficiency that will be brought by the use of blockchain technology into healthcare system by medichain.
Please find the important links related to the project below and stay updated:
Website: https://medichain.online/
Whitepaper: https://docs.google.com/document/d/1M4j-ertE4Couj0tdVzNQeE_y3YgXZbJXAafiPO_v5C8/
Twitter: https://twitter.com/MediChainOnline
Facebook: https://www.facebook.com/MediChain.Online/
Telegram: https://t.me/medichainonline_group
Kind Regards!