Control Your Health Records. MedChain ICO rating – not rated.
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Ended ICO : 30/07/18 – 29/08/18
About MedChain ICO (token sale)
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.
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 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.”
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.
The goal of MedChain is not to become yet another silo of data, but to open up all the silos to form a “common data layer” where all patients’ records are accessible by all the service providers on the network. This interoperable common data layer is a disruptive concept to the status quo, but will prove mutually beneficial to both the patient who wants control of their medical records and those who are storing medical records.
The two primary challenges of data security and interoperability are solved by MedChain by decentralizing Electronic Medical Records and putting control in the hands of the patient.
MedChain’s combination of cutting-edge blockchain protocol technology, military-level encryption, distributed storage, coupled with open-source framework will set a new standard in HIPAA/GDPR/globally-compliant medical record-keeping.
Healthcare providers that implement MedChain infrastructure will have access to vastly more secure storage and a far more effective data transfer mechanism.
Finally, by putting control of EMR in the hands of the patient, MedChain ensures that critical medical records are no longer trapped in isolated, inaccessible silos. Patients can quickly grant access to any authorized healthcare provider, ensuring that the right information is in the right hands at the right time.