Medchain : Decentralized Health Record storage

MedChain facilitates for Electronic Medical Records (EMR) and electronic Protected Information (e PHI) with the assistant of Blockchain and distributed storage solution.

MedChain network (MCN) is governed and secured by multiple blockchains which uses a multi-crypto-token framework.

There are several issues in the current healthcare industry such as,

Hacking and data breaches and it could be highly cost
Mismatching half of patient records when data is transferred between healthcare systems
Losing the patient’s data
Medical errors
MedChain aims to address these issues by,

Securing patient data
Improving patient outcomes
reducing costs
putting control back into the hands of the patient
It achieves cost saving by,

by streamlining data flow and user experience
reducing IT overhead
ensuring true and accurate data for each patient

MedChain provides “common data layer “where all the service providers are accessible into all patient’s record. It will be easy for both patents to control their medical record and service providers to store medical records.

MedChain solves the primary challenges of data security and interoperability faced by EMR and ePHI by,

Decentralizing Electronic Medical Records
Putting control in the hands of the patient.
using a Hyper ledger Fabric BlockChain
Implementing permissioned Distributed Storage Network
Verification of Ethereum BlockChain for transparency and auditability.
Inaccessibility to unauthorized parties
The solutions provided by MedChain are properly certified by the Health Insurance Portability and Accountability Act (HIPAA) and GDPR rules and regulations. It provides an unprecedented level of reassurance to ensure the integrity of an investable BlockChain market.

The MedChain system comprises with following components.

Tokens
Patient dApps
Service Provider dApps
Nodes/Hardware
Blockchain as a Service
Software as a Service

The security Token of this project is MedCoin. It is based on Ethereum-network. The initial supply of MedCoin is 100,000,000 and it is worth of 1,000,000,000.

Capital is raised by MedChain through three funding events. They are,

Regulation CF Seed-ICO – It has been raised $467,000
Anticipated Regulation D 506(c) Pre-ICO – It is expected to raise funds between $5-15M
Anticipated Regulation A+ ICO - – It is expected to raise funds between: $15-30+M
Due to this nature of ICOs the financials of MedChain, it is audited by the public accountant(s) who are independent of MedChain.

Final MedChain Token is allocated among below mentioned parties.

Community -94%
Business Development – 2.5%
Research and Marketing – 1.5%
Reserves – 1%
MedChain Development and Executive Team – 1%
The funds raised by MedChain as above will be used for the development of below-mentioned areas in the respective percentage.

Engineering Development – 30%
Operations – 25%
Marketing – 15%
Regulatory – 10%
Business Development – 10%
Reserves – 5%
Legal – 5%
Misc. – 5%
MedChain has planned their main activities up to 2020. It is included,

Developing Block Chain and Apps
Public verification Chain Coding and Development of Incentives
Deployment of SMRC ‘s DevNet and V1PVC
Development of MainNet
Release the MedCoin
Deployment of SMRC TestNet open platform to outsiders
Deployment of external and internal dApps
Conduct audits. Tests and compliance with certification of protocol

MedChain has a team which has excellent experience in healthcare, IT system, and Block Chain. Altogether there are fifteen members of the team. They drive the project towards the success in a manner that patients, service providers and the community in the healthcare industry can obtain benefits out of that.

For More Details of Medchain:Official Website: http://medchain.us
Whitepaper: http://medchain.us/doc/Medchain%20Whitepaper%20v1.0.pdf
Telegram: https://t.me/MedChain
Twitter: https://twitter.com/MedChainInc
Medium: https://medium.com/medchainofficial

Author: SanZoldyck

My BitCointalk profile: https://bitcointalk.org/index.php?action=profile;u=1045517;sa=summary