Medicalchain (MTN) is a cryptocurrency and blockchain platform that is used to store health records and maintain a single version of the truth.
Privacy and Access Control
Medicalchain provides the patient full access and control over their data, they will have the capability to provide differing levels of access to various users, by assigning a set of access permissions and designating who can query and write data to their blockchain. The patient, being the owner of their own medical records, will be able to fully control who accesses their data and which information they access. The patient would have the ability to grant access to their EHR to other users and revoke access by setting up a time limited gateway, thereby improving data security.
Approved clinicians on the Medicalchain platform will have the ability to ‘read and write’ to the patient’s records. Moreover, the Medicalchain platform will provide the users with a full log of who has access to their medical data, the time of access and the particular types of data that can be accessed.
Telemedicine, an online consultation with a doctor and patient using a webcam interface, is set to be the future of consultations. Medicalchain not only provides this established and successful format of consultation, but will accommodate the doctor by enabling them to interact live with the patient’s records during the consultation. Patients would grant access to their records during the telemedicine consultations, allowing for a more in-depth, informative, and valuable experience for both the patient and doctor. There are also further benefits from the telemedicine experience which Medicalchain delivers.
Telemedicine platforms available today offer online visual consultations but do not have access to longitudinal health records. Medicalchain offers this unique value and provides patients with privacy controls. Patients will be able to choose the level of detail visible and allocate viewing rights to their chosen doctor for as long as they feel necessary.
Licensing Health Records
As with the founding principal of Medicalchain, patients should have control over their health records, and they should also benefit from the potential value that they possess. Medicalchain will connect research institutions with users who are willing to have their health data used in studies in a health data marketplace. Users will be given clear information as to how their data is being used and what data will be required. In many cases anonymised data will be permissible, ensuring the privacy of everyone involved. In return, participants will be compensated in MedTokens. Patients will be given the ability to unlock the monetary value that their health data holds, they will be more engaged with their health conditions and the next generation of cutting edge medicine will be powered.
Pharmaceutical and research companies will also benefit from the changes brought in by Medicalchain. They will be able to seek out patients who have opted in to being contacted by researches so that these institutions can interact directly with the patient. By doing so, companies will no longer need to approach a hospital or clinic and can go straight to the people whose information will be used. Not only will this increase efficiency, but it is a more transparent process that strikes a relationship which is symbiotic and sustainable.
App Development Platform
Medicalchain will allow third party developers to develop and showcase their applications within the eco-system. Health applications include assessment of medications, interactivity with wearable data, fat measurement, diet and nutritional advice. Such applications will connect to the Medicalchain platform directly. Patients will grant access to their health record to app(s) where they can be used in exchange for MedTokens.