, a revolution in healthcare industry, backed by massive blockchain potential, is to be seen in the market soon as the company’s successful tokensale ICO is going in full swing and will end by September 5, 2017
. In one of the recent interviews, Ben Steffens, and James Billot, co-founder and advisor of the Medibond project, gave a presentation of this innovative platform, which leverages upon the capacity of blockchain to bring real changes in the global healthcare ecosystem.
Steffens and Billot attribute the project’s uniqueness and usefulness to its high security and privacy, ensuring full transparency in all functions related to healthcare database management and practices. A range of consumers including patients, medical doctors, pharmacies, and insurances would be able to utilize MediBond tokens as a mode of payment to buy space for storing medical data, employing contracts between parties over the network, and making use of computing ability of blockchain to process the assistance requests from MediBond’s neural network. This is important because healthcare data is precious and highly confidential and therefore, is extremely prone to hacking.
What problems does MediBond Intend to solve?
The founders of the platform believe that most of the healthcare technologies, especially in the United States, are obsolete and a lot of doctors and pharmacies are not currently using the best practices for ensuring data security, transparency, and privacy. The patients are not protected in a way that their data is used a couple of times without any explicit approval. Many times, it is not even encrypted. In addition, the current technology is not being used in the area of Artificial Intelligence that helps greatly with diagnosis and treatment plans.
MediBond platform, developed on the blockchain, is connected to the solution of these problems via its core feature of the verification system. The system carries out a trinary multi-signature protocol that necessitates a sign off from all parties that are involved in a transaction. This results in high data integrity to these healthcare transactions and avoiding fraud, keeping the process of filling all prescriptions in a transparent way.
Secondly, the platform cryptographically protects the storage, encrypting transfer of all medical record across insurances, pharmacies and hospitals, on the blockchain. Multi-signature sign off is required to dispense any data to the third parties.
Moreover, MediBond platform has been built with artificial intelligence powered neural network that is fully trained on medical record of people on the blockchain and is able to offer intelligent insights to the medical professionals, helping them narrowing their diagnosis for patients and identifying potential symptoms swiftly, much early on.