Medicalchain is building a platform for secure storage and utilization of electronic health records on the blockchain. The company is also building a telemedicine platform to allow users to directly connect with healthcare professionals, share their records and get consultations, second opinions, online through a secure channel.
The company was originally founded in February 2016 to provide a software solution inside hospitals. The solution is known as ‘Discharge Summary’ and it uses a workflow tool to accurately write an assessment of a patient as they are being discharged from surgery or a long hospital visit. The software is currently being used by hospitals in UK and the team decided to extend this project and go further with Medicalchain.
Medicalchain wants people to have access to their health records everywhere. Today, you can travel far and wide and you will have access to your phone, contacts, photos, files, bank accounts but not your health records - probably the most important and life saving information you need. In most developed countries around the world you, as a patient, have a legal right to request your records. Medicalchain is providing you with a platform to do that. But more importantly, Medicalchain wants its users to be able to use it immediately by communicating and sharing (on a time limited basis) with other doctors.
The bigger vision is to allow pharmaceutical, insurance and other healthcare organisations and stakeholders to be able to interact with health records on patients' terms. Medicalchain believes that health records should be a part of everyone’s life and not just referred to when someone is ill.
Legal Overview:
Please note that we have hired KPMG in Lugano and have applied for a FINMA ruling on our utility token for Medicalchain. I can provide you evidence of our FINMA ruling application but this cannot be published publicly.
Technology:
Please note that we are using Hyperledger for our technology and ERC20 token for the ICO. We are members of Hyperledger and Linux Foundation.
Medicalchain uses blockchain technology to store health records. The different organisations such as doctors, hospitals, laboratories, pharmacists and health insurers can request permission to access a patient’s record to serve their purpose and record transactions on the distributed ledger.
Medicalchain provides solutions to today’s health record problems. The platform is built to store and share electronic health records. By digitizing health records and empowering users Medicalchain can leverage countless industry synergies.
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Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
MEDICAL CHAIN
Health record entails important database of the health treatment of the patient involving immunization records, screening records and lab results. It has played an important in history as an important legal document for monitoring of health, planning and administering treatment to the patient .It should therefore demands the to be securely stored to avoid mishandling of the health records many individuals.
POSITIVE VALUES
Secured patient rights: The digitalization of the health sectors assures the patient of their medical rights as their medical records will always be available. The techniques applied ensure that the records are safe and accessible without majorly relying on the operators’ existence. The project is therefore very important as it eliminates undefined processes of transmission of health details which can result to disposal of health documentations.
Easy sharing of health records. The electronic health recording ensures easy access of the individual health details with a lot of transparency from any place. This enables patient to have an easy follow up of their health progress from place to place without consulting many doctors. This can only be achieved when the health records system is fully secure making the project viable.
Health security: Confidentiality in terms of the specific health details is a key value for all patients; this builds the trust of the patient with the different operators handling their details allowing easy diagnosis and treatment. The medical chain of ensuring the health data and information is highly secured is therefore of great importance in safeguarding the health details and building their trust.
NEGATIVE VALUES
Inadequate laws of access: There are no clearly outlined laws for retrieving the health details in case of demise or retirement of the operators in charge of the system. This creates complications whenever the medical records are not clearly stated and hinders proper treatment.
RECOMMENDATIONS
This project promotes the implementation of the patient rights including privacy and easy access to their medical data hence making it viable and profitable.
Medicalchain offers an elegant proposal for mitigating deficiencies in a highly complex industry. The team who plan to bring that vision to fruition is superb and from the support they have already garnered within the crypto space, it’s clear the community feels the same. Still, with the ICO around the corner, some crucial indicators just aren’t there yet. With that said, we’re willing to make a small bet on the Medicalchain ICO as the situation stands right now. As always, we’ll keep an eye out for any further developments in the coming days before the ICO and update accordingly.
There are countless companies that seek to bring the blockchain technology to the existing EHR landscape. Nevertheless, the Medicalchain network has taken a head start and is developing at a tremendous pace. The company has already released its blockchain network in the hospitals in the UK. As a result of the platform’s robustness and a network effect it is relying on, it makes sense to invest in MedTokens.
Considering the lamentable situation in healthcare system in the United States including medical errors and lost health data, it’s obvious that Medicalchain is working on a real problem. The team having enough experience and expertise in healthcare and technology looks able to make this project successful. Medicalchain also good at self-promotion, they have more than 10,000 members on the Telegram group. But we must take into account a number of other projects competing with Medicalchain, such as Patientory or Medibloc.
