Medchain ICO
System Components
Tokens
The MedChain solution works by using several data layers on top of MedChain’s blockchain protocol. The system uses two distinct tokens types.
The external token, MedCoin, will function as a tradable ‘Security Token’.
The internal token, Record Tokens, have the function of adding hashes to the blockchain, which serve as a map of the distributed patient record. Each record could include plain text, database objects, scanned documents, pictures, etc. pertaining to a particular patient.
Patient dApps
Decentralized applications can be built on top of the MedChain platform by third parties, to facilitate a world-wide interoperability solution for the healthcare space. As we are developing our framework, we will be deploying the initial applications ourselves. The MedChain Patient dApp is being developed for iOS and Android smartphones, tablet and desktop use as a web application. This dApp always provides the most up-to-date information, such as medical test results, as well as the documentation all patients are entitled to under HIPAA and EMR guidelines. The MedChain applications will also notify users of access requests from service providers, doctors, hospitals, and health insurance providers. Realizing that patients are not always privy to full documentation from all sources (e.g. full psychiatrists records), the access control will allow for segmentation of view privileges, while still affording subsequent determination for distribution by the patient to approved providers.
Service Provider dApps
Following the deployment and integration of patient applications, we envision collaboration between MedChain and providers to tailor-make custom applications fit for each institution’s needs. The initial rollout of The MedChain Service Provider dApp will function as an automated intermediary of interoperability between the provider’s current HIPAA & GDPR-compliant software database and the MedChain blockchain and distributed storage network. While functions already exist to encrypt data prior to distribution, MedChain is developing additional ways to ensure encryption before fragmentation and subsequent transmission.
Nodes/Hardware
Nodes are essential to the function of a blockchain as they hold and verify the blockchain ledger, and can ensure tamper-proof ePHI records and patient information. Multiple nodes form the stronghold of the network’s Federated Servers which ensure the blockchain is kept decentralized and functioning as the immutable record keepers. These Federated Servers will likely be existing healthcare storage services within and outside of existing service provider facilities. The Federated servers will serve several essential functions in the MedChain ecosystem. These nodes perform the storage and retrieval of data as necessitated for our business model and is explained further in the Technical Details section.
Blockchain as a Service
MedChain will provide a rapid, low-cost, low-risk platform for healthcare organizations to share ePHI between each-other. In other words, the MedChain Network is a service that allows any existing and future EMR systems to access the security of the blockchain infrastructure: blockchain-as-a-service (BaaS) or platform-as-a-service (aka PaaS). MedChain enters the world of BaaS alongside IBM, Azure and AWS to offer a specialized BaaS platform that will tie together all medical related systems.
Software as a Service
With software-as-a-service (SaaS), MedChain will be able to provide continuous and automatic updates and full-time support for our software. SaaS is provided on a “pay as you go” and “pay for what you need” basis. The MedChain solution accommodates providers from the smallest private practice, to the laboratories supplying test results or durable equipment, to the largest hospital systems in the nation by providing a SaaS model that fits each. SaaS is another of the long-term funding mechanisms MedChain will implement to ensure company growth. Future growth phases of MedChain will expand on the SaaS models that will fund new software and services and new features/functionality.
All the storage and retrieval request will function with the use of the Incoming Token rather than MedCoin. The mining node of the Federation will be compensated with MedCoin to execute the transaction is a valid and verified.
How it Works
The MedChain Network will be launched in multiple phases. The first phase will establish the“common data layer” that all existing and future software providers can plug into, and that all future phases will build upon. That common data layer is called the Secure Medical Record Chain (SMRC). Subsequent phases will release complementary blockchain networks that buildfeatures and capabilities on top of the SMRC. Two distributed applications (dApps) will also be distributed during Phase I. Those are the Patient dApp and the Service Provider dApp.
The Patient dApp will be available free to patients around the nation and globe. With this dApp,the Patients can view their medical files, see who has used them, and give their specific service providers access to some or all of those files. In future phases, the patients will be able to schedule doctors visits, manage insurance bills, and see alternative options to improve their well-being.
The Service Provider dApp will be a user interface for service providers to add files to a patient’s EMR, as well as an application programming interface (API) for existing software providers to interface directly with the SMRC to help their customers store EMR data. This dApp will give the provider access to all medical results ever produced for a patient (no matter who ordered theprocedure) and track the orders they have specifically prescribed. In Phase II, the Service Provider dApp will also have access to a wealth of data that can be deduced from other similar patients across the nation/world using data analytics, machine learning, AI, and diagnosisautomation.
Once any of the dApps receives a new file to add to a patient’s record, the nodes on the
blockchain will securely handle all the encryption, data transfer, utility tokens, storage, storage invoices, pricing, compliance, re-assembly and delivery. As regulations change and get updated, the MedChain blockchain will also evolve to ensure data is always stored andtransferred in a correct and legally compliant manner.
Each subsequent phase of the MedChain deployment will add features and capabilities. In Phase II, a Secure Medical Discovery Chain (SMDC) will accept only anonymous EMR and runanalyses against millions of records. This is currently not possible because patient data is locked up in multiple proprietary systems. The MedChain common data layer realizes the true potential of machine learning and telemedicine that is stymied by today’s limited data sets.
Once any of the dApps receives a new file to add to a patient’s record, the nodes on the
blockchain will securely handle all the encryption, data transfer, utility tokens, storage, storage invoices, pricing, compliance, re-assembly and delivery. As regulations change and get updated, the MedChain blockchain will also evolve to ensure data is always stored and transferred in a correct and legally compliant manner.
Each subsequent phase of the MedChain deployment will add features and capabilities. In Phase II, a Secure Medical Discovery Chain (SMDC) will accept only anonymous EMR and run analyses against millions of records. This is currently not possible because patient data is locked up in multiple proprietary systems. The MedChain common data layer realizes the true potential of machine learning and telemedicine that is stymied by today’s limited data sets.
Mission
MedChain’s mission is to use blockchain technology to establish a better, more secure and transparent framework for Electronic Medical Records (EMR) that vastly improves the quality of care for patients while reducing healthcare providers’ costs. This allows companies and individuals to build software and applications within a globally compliant framework facilitating secure storage and transparency.
Summary
MedChain is offering a blockchain and distributed storage solution for Electronic Medical
Records (EMR) and electronic Protected Health Information (ePHI). The MedChain Network (MCN) is an extensible, layered architecture and protocol system governed and secured by multiple blockchains that utilizes a multi-crypto-token framework. The architecture has been thoroughly vetted because of the highly regulated healthcare arena and the personal interests of all the developers involved.
According to a 2014 CNN report, “no industry has been hit harder by hacking and data
1.breaches than healthcare”, and the problem continues to grow. Additionally, not only is healthcare data being stolen, it is also being lost with “as many as half of patient records mismatched when data is transferred between healthcare systems.” .
2.MedChain’s goal is to secure patient data, improve patient outcomes, reduce costs and put control back into the hands of the patient — both literally and figuratively.
The MedChain solution benefits providers from the smallest private practice, to all the
laboratories supplying the test results or durable equipment, to the largest hospital systems in the nation by improving the interoperability between each EMR system involved. Cost savings will be realized throughout the industry by streamlining data flow and user experience, reducing IT overhead, and ensuring true and accurate data for each patient
Personal:
Tokens
The MedChain solution works by using several data layers on top of MedChain’s blockchain protocol. The system uses two distinct tokens types.
The external token, MedCoin, will function as a tradable ‘Security Token’.
The internal token, Record Tokens, have the function of adding hashes to the blockchain, which serve as a map of the distributed patient record. Each record could include plain text, database objects, scanned documents, pictures, etc. pertaining to a particular patient.
Patient dApps
Decentralized applications can be built on top of the MedChain platform by third parties, to facilitate a world-wide interoperability solution for the healthcare space. As we are developing our framework, we will be deploying the initial applications ourselves. The MedChain Patient dApp is being developed for iOS and Android smartphones, tablet and desktop use as a web application. This dApp always provides the most up-to-date information, such as medical test results, as well as the documentation all patients are entitled to under HIPAA and EMR guidelines. The MedChain applications will also notify users of access requests from service providers, doctors, hospitals, and health insurance providers. Realizing that patients are not always privy to full documentation from all sources (e.g. full psychiatrists records), the access control will allow for segmentation of view privileges, while still affording subsequent determination for distribution by the patient to approved providers.
Service Provider dApps
Following the deployment and integration of patient applications, we envision collaboration between MedChain and providers to tailor-make custom applications fit for each institution’s needs. The initial rollout of The MedChain Service Provider dApp will function as an automated intermediary of interoperability between the provider’s current HIPAA & GDPR-compliant software database and the MedChain blockchain and distributed storage network. While functions already exist to encrypt data prior to distribution, MedChain is developing additional ways to ensure encryption before fragmentation and subsequent transmission.
Nodes/Hardware
Nodes are essential to the function of a blockchain as they hold and verify the blockchain ledger, and can ensure tamper-proof ePHI records and patient information. Multiple nodes form the stronghold of the network’s Federated Servers which ensure the blockchain is kept decentralized and functioning as the immutable record keepers. These Federated Servers will likely be existing healthcare storage services within and outside of existing service provider facilities. The Federated servers will serve several essential functions in the MedChain ecosystem. These nodes perform the storage and retrieval of data as necessitated for our business model and is explained further in the Technical Details section.
Blockchain as a Service
MedChain will provide a rapid, low-cost, low-risk platform for healthcare organizations to share ePHI between each-other. In other words, the MedChain Network is a service that allows any existing and future EMR systems to access the security of the blockchain infrastructure: blockchain-as-a-service (BaaS) or platform-as-a-service (aka PaaS). MedChain enters the world of BaaS alongside IBM, Azure and AWS to offer a specialized BaaS platform that will tie together all medical related systems.
Software as a Service
With software-as-a-service (SaaS), MedChain will be able to provide continuous and automatic updates and full-time support for our software. SaaS is provided on a “pay as you go” and “pay for what you need” basis. The MedChain solution accommodates providers from the smallest private practice, to the laboratories supplying test results or durable equipment, to the largest hospital systems in the nation by providing a SaaS model that fits each. SaaS is another of the long-term funding mechanisms MedChain will implement to ensure company growth. Future growth phases of MedChain will expand on the SaaS models that will fund new software and services and new features/functionality.
All the storage and retrieval request will function with the use of the Incoming Token rather than MedCoin. The mining node of the Federation will be compensated with MedCoin to execute the transaction is a valid and verified.
How it Works
The MedChain Network will be launched in multiple phases. The first phase will establish the“common data layer” that all existing and future software providers can plug into, and that all future phases will build upon. That common data layer is called the Secure Medical Record Chain (SMRC). Subsequent phases will release complementary blockchain networks that buildfeatures and capabilities on top of the SMRC. Two distributed applications (dApps) will also be distributed during Phase I. Those are the Patient dApp and the Service Provider dApp.
The Patient dApp will be available free to patients around the nation and globe. With this dApp,the Patients can view their medical files, see who has used them, and give their specific service providers access to some or all of those files. In future phases, the patients will be able to schedule doctors visits, manage insurance bills, and see alternative options to improve their well-being.
The Service Provider dApp will be a user interface for service providers to add files to a patient’s EMR, as well as an application programming interface (API) for existing software providers to interface directly with the SMRC to help their customers store EMR data. This dApp will give the provider access to all medical results ever produced for a patient (no matter who ordered theprocedure) and track the orders they have specifically prescribed. In Phase II, the Service Provider dApp will also have access to a wealth of data that can be deduced from other similar patients across the nation/world using data analytics, machine learning, AI, and diagnosisautomation.
Once any of the dApps receives a new file to add to a patient’s record, the nodes on the
blockchain will securely handle all the encryption, data transfer, utility tokens, storage, storage invoices, pricing, compliance, re-assembly and delivery. As regulations change and get updated, the MedChain blockchain will also evolve to ensure data is always stored andtransferred in a correct and legally compliant manner.
Each subsequent phase of the MedChain deployment will add features and capabilities. In Phase II, a Secure Medical Discovery Chain (SMDC) will accept only anonymous EMR and runanalyses against millions of records. This is currently not possible because patient data is locked up in multiple proprietary systems. The MedChain common data layer realizes the true potential of machine learning and telemedicine that is stymied by today’s limited data sets.
Once any of the dApps receives a new file to add to a patient’s record, the nodes on the
blockchain will securely handle all the encryption, data transfer, utility tokens, storage, storage invoices, pricing, compliance, re-assembly and delivery. As regulations change and get updated, the MedChain blockchain will also evolve to ensure data is always stored and transferred in a correct and legally compliant manner.
Each subsequent phase of the MedChain deployment will add features and capabilities. In Phase II, a Secure Medical Discovery Chain (SMDC) will accept only anonymous EMR and run analyses against millions of records. This is currently not possible because patient data is locked up in multiple proprietary systems. The MedChain common data layer realizes the true potential of machine learning and telemedicine that is stymied by today’s limited data sets.
Mission
MedChain’s mission is to use blockchain technology to establish a better, more secure and transparent framework for Electronic Medical Records (EMR) that vastly improves the quality of care for patients while reducing healthcare providers’ costs. This allows companies and individuals to build software and applications within a globally compliant framework facilitating secure storage and transparency.
Summary
MedChain is offering a blockchain and distributed storage solution for Electronic Medical
Records (EMR) and electronic Protected Health Information (ePHI). The MedChain Network (MCN) is an extensible, layered architecture and protocol system governed and secured by multiple blockchains that utilizes a multi-crypto-token framework. The architecture has been thoroughly vetted because of the highly regulated healthcare arena and the personal interests of all the developers involved.
According to a 2014 CNN report, “no industry has been hit harder by hacking and data
1.breaches than healthcare”, and the problem continues to grow. Additionally, not only is healthcare data being stolen, it is also being lost with “as many as half of patient records mismatched when data is transferred between healthcare systems.” .
2.MedChain’s goal is to secure patient data, improve patient outcomes, reduce costs and put control back into the hands of the patient — both literally and figuratively.
The MedChain solution benefits providers from the smallest private practice, to all the
laboratories supplying the test results or durable equipment, to the largest hospital systems in the nation by improving the interoperability between each EMR system involved. Cost savings will be realized throughout the industry by streamlining data flow and user experience, reducing IT overhead, and ensuring true and accurate data for each patient
- Website: http://medchain.us/
- Telegram: https://t.me/medchain
- Whitepaper: https://www.medchain.global/doc/Medchain%20Whitepaper%20v1.0.pdf
- Instagram: https://www.instagram.com/medchain.global/
- Facebook: https://www.facebook.com/MedChainOfficial/
- Twitter: https://twitter.com/MedChainInc
- Youtube: https://www.youtube.com/channel/UCJo6KiJFnc8UcO5mM-V1O5A
- Medium: https://medium.com/medchainofficial
- LinkedIn: https://www.linkedin.com/company/medchain/
- Reddit: https://www.reddit.com/r/MedChain/
- Bounty: https://bitcointalk.org/index.php?topic=4397564.0
Personal:
- Twitter: @duyhenryerr
- Telegram: https://t.me/duyhenry
- Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1348563
- Bitcointalk Username: duyhenry
- My ETH WALLET: 0xe4e4738ed64f115c8e9d28A1817e24d7D16cDA32
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