Home Page
9 level
39 reviews
357.5 karma

Review on Medicalchain by Josiah Ayuba

Monetizing Patients data, providing better health care

Research doesn't usually come easily due to lack of data from which one can work with especially in the advanced countries whereby privacy of patients are valued. Medicalchain uses the power vested in Blockchain to provide this much needed data to investigators by directly sourcing it from the patients who also, get incentives for sharing their information. One thing I do like about this project is how they have been able to keep the price stable despite being more of a rewarding program than an Investment or security asset.

Through collaboration with pharmaceutical companies, medical chains and schools, value is driven up for the token while rewards are paid out to respondents who balance the equation for the token, giving it a good volume. The use of the token is just what's outlined here but although it may seem, the token is also used to access the data which when collected from the respondents are stored on the blockchain for immutability.

The project is mostly confined to some specific areas and will hopefully, get in contact with every part of the world thereby becoming a large bank of data for medical reasons.

Pros & cons

  • Medicalchain provides patients with incentives for sharing their health records which are then sold to pharmaceutical companies for research
  • Good token value, listed on two exchanges with good volume
  • Stable value has been maintained between investigators 🕵️ and respondents 🙎
  • Storage of medical information is put on the blockchain for immutability and secure 🔐 purposes
  • Yet to be a globalized project