US-based eHealth startup, Timicoin, has developed the world’s first cryptocurrency Blockchain mobile platform, TimiHealth, for storing medical records that can be safely accessed from anywhere.
Timicoin believes that their patent-pending Blockchain platform will unleash the power of healthcare data while at the same time empowering the healthcare consumer. Not only does the platform secure patient data, but it also provides unprecedented portability.
Through TimiHealth, consumers can access their healthcare data immediately irrespective of their location, making it ideal for tourists, for example.
Furthermore, TimiHealth provides rewards or payments to individuals for their data. According to the startup, tokenisation opportunities such as Tokenized Healthcare™ and Tokenized DNA Data™ will be branded tools to be used in partnerships and collaborations with organisations both inside and outside of healthcare that wish to engage with the consumer in a model where the individual’s contribution is part of the equation. Meanwhile the consumers can monetise personal healthcare data through tokenisation.
“The revolutionary tokenisation of healthcare is a testament to how humanity now has the knowledge and power to create better, more secure ways of doing things,” said Managing Partner at TimiHealth, Will Lowe.
“It took until 2018 to grasp and truly utilise Blockchain technology, which in the case of TimiHealth leverages the value of healthcare data and fairly distributes it,” continued Lowe.
The TimiHealth platform will also combat against ransomware and other attacks by providing a healthcare ecosystem with a readily adaptable infrastructure, which according to Timicoin eliminates many threats and challenges.
Timicoin’s Blockchain, TimiChain, gives the individual control of their data. The user will have the decision to grant or deny a provider, medical researcher and other healthcare participants permission to access personal data, whether identified or de-identified.
“TimiChain Blockchain provides an impenetrable, decentralised method of storing health information bringing peace-of-mind to a healthcare eco-system continually under threat of attack,” said Head of the Timicoin advisory board, Joyce Lignell.
“Using TimiChain to deploy a decentralised, audible and immutable infrastructure into the healthcare marketplace is a transformative step towards mitigation of such threats,” continued Lignell.
TimiChain Blockchain incorporates HIPAA regulatory standards. Consumers can tap a one-stop-shop location to securely access their records from across the healthcare continuum through the TimiHR mobile app. Any healthcare provider can access the secure record eliminating duplication of services, medications, tests and time spent.
Timicoin has also developed the TimiWallet, a token ledger and first wallet app for the healthcare industry allowing users such as clinical researchers who want to mine consumer data the ability to pay the data owner for use of data.