MediBloc is the world’s first company to merge blockchain technology onto a PHR platform. MediBloc has already developed a demo-app with the official version to be released in October 2018.

“The healthcare industry is larger than the electronic appliances industry, but the medical data system is lagging big time,” said Dr. Kho. “MediBloc allows individuals to take control of their medical records. Institutions will no longer be at the center of medical data handling.”

Dr. Kho pointed out:

“Hospital visits create a sizable amount of medical data regarding various diagnosis', treatments, and prescriptions. Under the current medical data system, the patient cannot collect his or her medical records easily. Patients, institutions, and doctors are all paying unnecessary costs under the current data management system.”

For example, a patient may have to take the same blood and x-ray tests again when he or she changes from hospital A to hospital B. A patient may also have to revisit and pay the hospital to issue a medical report. Patients are often the victims of this extra cost with the current record keeping system.

This leads to a lot of problems, since doctors may have trouble providing an appropriate treatment if a patient incorrectly communicates their medical history. Medical researchers can only have limited access to medical record data due to private data protection laws.

MediBloc believes blockchain technology is the key to solving this problem. Blockchain, the core technology behind crypto-currencies like Bitcoin, Ethereum, and Qtum, helps ensure credibility in digital data. Unlike existing institutions who save transaction records on a centralized server, blockchain distributes transaction records to all network users and has a distributed validation mechanism. Data forgery and hacking can thus be prevented while ensuring transparency and credibility.

MediBloc Demo

Dr. Kho stated, “blockchain’s credibility, transparency, and security have already been proven by the crypto-currencies currently being used throughout the world. MediBloc is developing a next-generation medical data system that fully utilizes blockchain’s benefits.”

Like the miners of bitcoin, MediBloc participants record medical data on Medi Token (MED) blockchain. MED will be the crypto-currency used as a reward in the MediBloc ecosystem.

The Medi Token (MED) can be used to compensate practitioners when they produce new medical data for a patient and researchers can directly purchase medical research data from individual patients.