Medifakt, an enterprise-level Decentralized Healthcare Ecosystem, uses a combination of Blockchain, the Internet of Things, and Machine Learning to enhance the security of the collected data through IoT devices and feeding them to a decentralized network built on the Polkadot network. It has pioneered an enterprise-grade blockchain platform tailored to the sector’s regulatory, operational, and market needs.
The project’s primary aim is to securely share medical information with complete traceability along with aggregation of medical information from multiple sources and utilizing medical information for Big Data Analytics.
Medifakt is a project developed by AKT Health, a healthcare consulting firm with capabilities in clinical research, commercial strategies, and consulting & Interakt, a Blockchain-based technology firm building multiple projects in decentralized space including CeFi, DeFi Exchanges, Dapps, and gaming.
The team is building a network called Medifakt Network which will have four main modules in Blockchain – The Data layer (using the concept of Data Fabric & Data Oracles) of , Asset Layer, Service Layer and Security layers integrated to create a blockchain secured platform with Incentive model – HealthNode covering electronic health record management (including integration patient reported data), clinical data management, health economics and outcomes research and supply chain
Medifakt aims to build a Cross Chain Patient Data Aggregator with Identitiy Storage, authentication and ownership on substrate (Polkadot) Our HIPAA compliant solution securely enables all modes of digital health communication, including telehealth, chat, voice and permission-based data sharing. The Medifakt network gives a custody of data to the Patients and create data interoperability, reduced operational costs, improved efficiencies and improved patient outcomes to the providers.
The Asset layer of Medifakt network will manage and operate the Token Economy incentivising the Patients for their Data integration, creating a transparency in calculating the health Insurance premiums.
“Medifakt will ensure the real-world data collected through medical devices will solve the transparency in healthcare costs in drug development, payments, and insurance premiums. Along with that, it will aim to use advanced machine learning capabilities to support the patient healthcare outcomes in a more secure and compliant way,” said Rashmi Gurnani, CEO, AKT Health.
This unique project has two main directions from a functional and technical perspective, “the functional aspect of the project looks into how the traditional pharmaceutical companies have been dealing with commercial excellence, digital transformation, health economics, and outcomes research while the technological aspect goes beyond the traditional methods to complement the existing technologies with interoperable and secured technology combined with IoT, Blockchain and AI.” said Aino Tsukamoto, CEO, Interakt Japan.
Medifakt is currently launched on UniSwap and PancakSwap. Learn more by visiting their website and join them on Telegram.