As more and more people utilize the blockchain, it is becoming a key resource in the health care field. This immutable distributed ledger allows participants to cryptographically exchange information that is 100% secure and sourced back to the first transaction. As a result, health care professionals have identified several key ways to take advantage of this technology and deliver tremendous value to consumers. The United Arab Emirates based firm has combined an extraordinary team with excellent technology to produce a solution that may become extremely valuable.
Medvice enables preventative action
Medvice is a mobile medical e-consultation system that uses AI technology to route patient health questions to humans or computers for real time answers. With that information, patients will be empowered to take preventative action to avoid disease or serious medical problems. Additionally, if the patient finds that they need immediate medical care, the solution will direct them to the best means to do so. All of this occurs over the client app called the Medical Interactive Anamnestetics (MIA) solution.
One of the most important features of any online health product is security. Nobody wants to share the health questions they have with the public. In many countries, it is a crime for hospitals or doctors to release this information without the patient’s permission. Similarly, the patient will mostly likely not release it themselves.
For that reason, the blockchain is an ideal solution. Patients can use the private key of the Medvice blockchain to securely transmit questions and receive answers over the secure IPFS file system. No other device can hack or release this information without the private key of the patient or user. Additionally, they can create a private Electronic Medical Record (EMR) that contains all their confidential information.
In contrast to other health Q&A platforms, Medvice is natively mobile. That means it will be built with the smart phone app as the primary means to interact with the network. This is a level of convenience and safety that is unavailable elsewhere.
The platform will be built on the Stellar network which has a reputation for reliability and security. Stellar is already being used for financial institutions to process financial transactions due to its security, speed and low cost. Medvice’s solution builds on top of the Stellar network, accessing the benefits of this per-existing protocol.
The company is building out an advanced artificial intelligence (AI) solution. The MIA is able to scan patient queries and automatically route them to the correct response. Over time, with more queries the platform will become more accurate and precise. For questions that cannot be answered by an automated response, medical professionals that also use the platform will be able to receive the private communication. They may then respond in detail to the patient.
Medvice Token Economics
Medvice is working on an ICO which is proposed to take place in 2019. The token will represent a means for paying for services and having questions answered on the platform. Users will purchase tokens and use them for micro-payments. Medical professionals that answer questions will receive tokens. Any other programmers or experts that contribute data for the AI mechanism may also be rewarded with Medvice tokens.
If the company meets projections, as more and more people recognize the value of the platform, the price will rise to acquire the tokens. That means anybody that initially purchases the ICO will be able to sell for a profit. The Medvice token identity is still not available but will be released in the near future
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Brennan is a blockchain technical adviser in the healthcare sector and blockchain entrepreneur who has worked on developing proprietary concepts for both artificial intelligence and enterprise blockchain. He is a graduate of Rutgers University School of Health Professions where he earned a M.S. in biomedical informatics.