Historical
Background of MEDICHAIN
Technology is developed
and always developing, improvement in any aspect using technology. Sport,
Education, Art, Social Environment, and most of human activities are touched
with technology. This rapid development of technology has penetrated also into health
sector. Technology had touched health sector in many activities, in diagnosing
the disease, to cure illness, using sophisticated machine for surgery, using
advance equipment to detect body, etc. Other type of technology penetrated into
health sector is information technology. Although the world of health (medical)
is an area that is information-intensive, but the adoption of information
technology is relatively lagging behind. On the other hand, the public realizes
that information technology is one of the important things in human
civilization to overcome some of the problems of the rapid flow of information.
Information and communication technology today is an important part of
information management. The rapid development of knowledge (approximately
750,000 new articles in nursing journals are published annually), nurses will
be quickly left behind if they do not take advantage of the various things to update
recent developments.
Formerly clinic and
hospital used conventional medical record to compile health data and history of
a patient, they are kept in hardcopy in a big filing system of paper documentation.
Nowadays There are still many hospitals use the traditional system of medical
recorders using paper, which has some problems such as mistakes in providing
medication by nurses. With the advance
of technology, nowadays an Electronic Medical Record (EMR) system can provide a
solution to this problem. Electronic Medical Record (EMR) is a systematic
collection of electronic patient-based health information that is connected and
integrated with information systems within the hospital network. These data
include demographic data, medical history, treatment, laboratory and radiology
test results, nursing process, discharge planning and even billing information.
In nursing documentation process, language treatment plays an important role in
explaining and defining nursing phenomena and actions to be carried out. Standardized
Nursing Language with its definition generally accepted allows discipline to
use electronic documentation system in form of EMR. With EMR, patient data can
be accessed directly and can be traced easily, beside EMR able to provide
protection that can help prevent medical errors.
Basically an Electronic Medical
Record is using of electronic methods for the collection, storage, processing
and access of patient medical records in a hospital that has been stored in a
multimedia database management system that collects various medical data
sources. Types of medical record data may be text (both structured and
narrative), digital images (if applied digital radiology), sound (e.g heart
sound), video or biosignal such as ECG recording.
From EMR technology that
using network in a hospital or clinic, then the more advance technology is
utilizing blockchain for better result and performance. Basic principle of
Medichain to use EMR and blockchain such as any data about a patient gathered
by device or medical professional, dispensing a prescription or even purchase
of a non-prescription medication, the patient (through an app) or the device
would get a chance to have a reference or “pointer” added to an Ethereum
blockchain—a decentralized digital ledger. EMR to capture data about patient
then the storage management is carried out by blockchain that provide an index
for storage and it contains the hashes that validate the offchain data. Using
this blockchain is allowing MediChain to provide innovation in electronic
medical records (EMRs) by providing a free-to-integrate open source API to add
MediChain to any EMR without regulatory barriers. MediChain is really a
solution tuned to the needs of patients, the treatment community, and medical
researchers. So far, some utilization of EMR are hampered by a rule from a
developing country rule. By this Medichain to combine EMR awith blockchain then
the obstacles will be removed or at least reduced. Using the blockchain can
provide decentralized record management system for EMRs to manage
authentication, confidentiality, accountability, and data sharing while storing
data off-chain in a secure cloud.
The blockchain environment
would record critical medical information off-chain except for payments, that
data will be indexed by a virtually incorruptible cryptographic database. This
database then will be maintained by a network of computers which allowing access
anyone who running the software and possess the patient's permission to access
the specific cryptographic keys.
In this MediChain no
need to worry about incompatibility issues as every point at which a doctor
logs on the blockchain (or the patient logs on for themselves with their
smartcard, giving them control of their own data) would become part of a
patient’s off-chain record, no matter which electronic system the doctor was
using.
Bu using this blockchain
technology, there are some benefits as below :
1.
Blockchain can give patients more control over
their information and streamline the exchange of medical records in a secure
way
2.
Blockchain can protect sensitive data from
hackers
3.
Blockchain can make sure that patients benefit
from sharing information
4.
Blockchain can allow a custom-built “healthcare
blockchain” will herald an industry-wide revolution in medical records at a far
deeper level than has been postulated previously
5.
Using blockchain allows to be available of specific rules which is flexibly added to the protocol
enabling it to radically improve health care, while adding value along the
whole chain. The rule network is flexible and extendible and will facilitate
the exchange of complex health information between patients and providers,
between providers, and between providers and payers, remaining secure from
malicious attacks and giving previously undreamed of control over privacy.
6.
Using blockchain allows the modular design
integrates with providers' existing, local data-storage solutions, facilitating
interoperability and making our system convenient and adaptable.
Economic View of MEDICHAIN
History
To further consider feasibility
of a project, it should also consider economic view beside technical issue. Above
presented in previous part some technical background about MediChain that
combine EMR with blockchain technology. From economic view, the MediChain
developed from the fact that data needs to develop a new drug averagely can cost
$2.6 billion US taken over 106 samples and 10 companies. The annual development
budget in the US is $153 billion dollars per year. Founder Mark Baker has first
hand experience in this sector doing big data analysis for a crucial part of
the development of a highly successful drug as well as big data experience as
CTO in a major predictive analytics player.
Above can be seen the
potential medical big data market that can be significant portion of the future
drug development market. It is found also from other source that Electronic
Health Records (EHR) Market values the global EHR market at $15.56 billion
USD nad now is growing to be $23.98
billion USD. Not to mention if added with Pharmaceutical research expense and
also insurance, the market of this data needs will be bigger that more than 30
billion USD. It is very fantastic value…!!
From above history, then
MediChain team are starting to develop this MediChain project for more benefit
to the health environment specifically
and society in general.
What is MEDICHAIN?
MediChain is a Platform
containing Medical Data in big size. This data are coming from patients who
store their own data off-chain in an appropriate geographic domain or the
storing can be done also by doctors or hospitals. By certain scheme, the
platform will give access to doctors and specialists anywhere, regardless of
the payer network or EMR used. This access surely with the permission of the
patients itself as part of scheme organized by transcending individual
electronic medical records systems.
As said above in
historical view that the data could be useful to many parties such as researchers,
insurers and pharmaceutical companies, and perhaps the data may also be used
for prescription management. They are the data user would access that big data
in fully anonymized form. This MediChain has unique architecture which can
provide fast access and small downloads then this platform is practical for
everyday medical use. MediChain protocol brings enhanced transparency and
reliability in medical data exchange at every level, from devices to EMR to
unprecedented opportunities for privatized big data sharing. This performance
achieved as MediChain is based on smart cards (optional), Homomorphic encrypted
access rules tables, json data formats, lightweight and strong cryptography and
blockchain technology. This MediChain protocol can also provide connections
between patients, service providers, and medical researchers located anywhere
in the world, regardless of systems used so long as the systems can work with
the almost universal and open json format.
MediChain aims to allow
better conditions for all related and concerned parties such as patient
themselves, doctors, researchers, pharmaceutical companies, insurers companies,
etc. That aim is achieved by :
a.
Creating a better way of handling patient data
than anything available today
b.
Improving patient data sharing and availability
c.
Being open to add to any existing system or be
managed automatically by doctor or by patient.
This
MediChain surely protect patient data as well while neutralize patient’s risk
and increase their benefits by including different levels of access.
Generally,
there are benefits by using MediChain as below :
-
Patient can take data anywhere, move the data
between healthcare providers, specialists, insurers or even countries
-
Keep patient data safe and anonymized, it just patients
to decide how anonymized they want for their medical data to be
-
Patients or Doctors will not be charged for
data using, and this data usage will depend on patient permission to let
medical scientists and companies use the data for research and other purpose.
-
By using this Medichain, transaction speed for
data will be much faster that can reach 14,400 times of speed than common
access of EMR.
Above
benefits can be found also in MediChain website at this link : https://medichain.online/. Continued to
explore the website, it can be found also the team who are working to develop this
MediChain project. We should know the team work for this MediChain
to review the strength of the performance. Here they are team that can be found
at this link https://medichain.online/#Team :
Other teams are as below :
a. Key team are :
1. Samuel
Dare: Blockchain Engineer
2.
Agustin Cassani: Blockchain
Engineer
3. David
Forbes: Software Developer
4. Mark
Shorter: Creative Director/UX Specialist
5. Naomi
Ellis: Public Relations, Marketing & DesignTechnology:
6. Rob
Moya: UX/UI Designer
7. Giannis
Stathopoulos: Business Development & Digital Marketing
8.
Yilin (Linda) Wen: Business
Development
9.
Matt Ganeles: Business
Development
b. Advisors:
1.
Simon Cocking: Blockchain Advisor
2. Jon Matonis: Cryptocurrency
Specialist
3. Mike Raitsyn : Specializes in fintech, internet marketing and
process automation
4. Keith Teare : Accelerated
Digital Ventures
5.
Gabriel Zank : Fintech entrepreneur
6.
Chris Fennell: US Legal & Legal Compliance
7.
Amarpreet Singh: Blockchain Engineer
8. Simon Choi: International Legal
Compliance
How is the service provided by MediChain?
Basic functionality of MediChain as above described to
connect data flow and managing big data to be utilized by concerned parties
such as pharmaceutical companies and others. To simplify the utilization, it can
be described in below figures :
From above figure, it is
shown the flow of MediChain token called MCU and also data as shown in the
remark. Let’s say a patient to be check through Diagnostic or Analysis Service,
patient can pay service provider by MCU. Diagnostic or Analysis result is
returned to patient, and patient upload to EMR / HER to enter blockchain system
of MediChain. Data are managed by MediChain, if there is a Pharmaceutical
Developer need big data, they send MCU token then receive data needed.
In other words, MediChain
token called MediChain Utility Tokens (MCU) will give benefits to MCU holderas
below :
a.
Institutional Medical Data Services (including
Diagnosis)
b.
Medical Research Data Services
c.
Any/All additional future business transactions
on the MediChain Platform
d.
Research Program Voting. Get the chance to
determine the focus of future research
e.
Personal Medical Data Storage and transfer
f.
Personal Medical Data Services
g.
MCU Discounts
MediChain Project
At current
time, MediChain is still being developed to be realized after sufficient fund
collected. Execution of this project was planned in the Road Map to be shown
below :
To execute
the project, team are gathering fund through Initial Coin Offering (ICO).
Detail ICO is presented below :
Distribution,
initial rate, and token exchange
1. Initial MCU token rate
|
1 USD
Time is
set in Universal Time (UT) [Greenwich Mean Time (GMT)].
|
2. Founder's Sale
Until
February 5, 2018, 00:00
|
BONUS 50%
Min
purchase - 1000 MCU tokens (1000 USD) NO SOFT CAP
|
3. Pre-Sale
February
5, 2018, 00:00 -
February
19, 2018, 00:00
|
BONUS 15%-50%
Min
purchase - 1000 MCU tokens (1000 USD) - 10% bonus
5000
MCU tokens (5000 USD) - 15% bonus
10,000
MCU tokens (10,000 USD) - 20% bonus
20,000
MCU tokens (20,000 USD) - 25% bonus
100,000
MCU tokens (100,000 USD) - 35% bonus
200,000
MCU tokens (200,000 USD) - 45% bonus
500,000
MCU tokens (500,000 USD) - 50% bonus
|
4. Run up to main sale
February
19, 2018 00:00 -
March
01, 2018 00:00
|
Deposits
are possible, purchases are not possible.
|
5. ICO
March
1, 2018, 00:00 -
May 1,
2018, 00:00
|
Min
purchase - 10 MCU token (10
|
MediChain Utility Token will present detail planning of the fund
collected in connection with The Token Generation
Event (“TGE”) will be allocated as
follows :
1.
Pre-Sale
Maximum 6.5%
2.
Public
Sale 40%
3.
Partner
Fund 15%
4.
Team
& founder Fund 18%
5.
Advisors
6.5%
6.
Medical
Data Fund 10%
7.
Bounty
4%
1 MCU has a nominal
release value of $1 US. All unsold tokens will be burned. In graph can be shown
as below :
While the fund raised from Pre
Sale in TGE Crowdsale to be allocated for 1-3 years as below figure :
From what presented above hope can
be seen the benefits of this MediChain to utilize data from current EMR in a
big system using blockchain technology, related parties will know the benefits
and can experience the benefits.
Further information can be
referred to below link :
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