When used correctly, healthcare data can save lives and improve quality of life. Unfortunately, the current process by which healthcare data is accessed can be challenging since many participants aren't willing to comply. It is also expensive for smaller organizations. The result is that delivering life-changing medicine is only possible for larger organizations, although it does take time to collect the required data. In time-sensitive situations, this can cost people their lives. As a result, companies and governments worldwide actively seek better ways to gather medical data for research.
On the other side, medical associations must be careful in their use of data. Many patients are fearful of divulging their medical information lest it is shared beyond their physician and the hospital. Some patients have admitted to withholding information from their providers due to concerns over their security. When this happens, medical organizations risk missing data that can help them to develop new treatments for those who are critically ill, thereby further preventing the advancement of medicine.
Aimedis, an e-healthcare provider, aims to address these concerns by releasing what is believed to be the world's first medical and scientific nonfungible token (NFT) marketplace. The introduction of a standardized process will allow professional users to provide anonymized healthcare data on the blockchain. Institutions, researchers and related businesses can then pay to access this data for online trials.
According to their team, the NFT marketplace, also known as the Aimedis DataXChange, can "simplify and standardize the structuring, protection and monetization of scientific and medical data." This marketplace is positioned to be "a part of a future data market, [where] companies and institutions have access to a multibillion-dollar market."
Protecting patient data
In practice, patients from anywhere can volunteer to share their data through accredited healthcare providers as a nonfungible token or NFT. Due to the blockchain’s decentralized nature, patients are more likely to share their data anonymously, knowing that it is secured with strong encryption. Patients will earn the Aimedis Token (AIMX) in exchange for their anonymized data and may also be eligible for discounts on other services that the e-health platform provides. Participants are also rewarded through the ecosystem, which contains different forms of content and other member-only advantages.
With greater security, companies gain access to a more extensive database that they can then use to treat others who experience similar health problems with medications, treatments or vaccines, effectively democratizing research. Companies that need this data can easily access it further; their work can improve their products. Any revenue earned can now be predicted and determined as a part of this new standard for medical data. Therefore, companies that would otherwise be unable to reach this data can partner with other organizations to purchase the necessary data.
To make this model, as well as other e-health features possible, Aimedis uses a multi-blockchain system that implements a decentralized-nonpublic blockchain to save transaction IDs, vaccinations and organ donor passes. Tokens are handled in the public blockchain, while nonfungible tokens exist on either the public or private chain, depending on the level of encryption.
Each of the unique NFTs will produce data organized into carefully sorted sets to allow for easy follow-up on the blockchain. Using blockchain technology will also ensure that a transparent record of all transactions is maintained.
Aimedis is currently partnered with TDe.fi, a virtual decentralized finance (DeFi) accelerator and a consultancy platform NonceVC. However, the team also shares another major partnership for their NFT marketplace, which will be announced shortly.
The NFT marketplace is only one of the avenues Aimedis is exploring. The company is also striving to reinvent the hospital and practice information system with a software as a service (SaaS) solution and keep advancing its all-in-one platform for health data, video consultations with doctors, and more.
The e-health platform has noted steady growth as they expand to more countries, even sharing their goal to reach 1 million users at the end of 2021.
Aimedis’ IDO is going live on Oct. 19, with the presale and seed sale already open.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.