Company to Store Healthcare Data on Blockchain Platform for Simple and Secure Data Sharing
Data storage in healthcare industries is of critical importance. Security breaches in this sector will not only have an impact financially — in terms of health insurance — but could also compromise patient safety. The new platform Timicoin aims to enhance patient data safety through blockchain technology.
Describing themselves as the “Tokenized Healthcare Ecosystem,” Timicoin claims to offer a solution to the current fragmented and isolated nature of patient health data, which results in inefficient and ineffective use of the information. For example, medical institutions transferring information on patients is currently more complex than it should be, because of isolated facilities and user data. Timicoin propose that their blockchain solution will secure healthcare information within a Health Information Exchange (HIE).
The Timicoin white paper defines an HIE as “a reliable and interoperable electronic sharing of clinical data obtained by the patients, physicians, nurses, pharmacists and other health care [sic] providers across unaffiliated institutions which in turn creates a network effect.” The team claims that this will allow for the simple transfer of patient data, no matter where in the world they are being treated. This, in turn, would avoid wasting resources — for example, retesting patients when results have already been obtained elsewhere.
TimiHR is the name given to the “mobile health record” accessible via a mobile app, enhancing the portable nature of personal health data. The TimiHR ecosystem will be powered by the Timicoin Utility Token and also feature the HIPAA compliant TimiChat private messaging service to allow secure communications between patients, providers and other data users. TimiCloud is a secure storage platform also featured on the app, used for all blockchain backups and data index references. The separate TimiPaitent app will also allow patients to manage permissions for consumers requesting to access their data and maintain their health records, as well as control Timicoin payments and deposits.
The team outlines the four steps of how the system works. Firstly, daily activity data from wearable smart healthcare devices is provided with the patient’s permission.
