Medifakt, a groundbreaking enterprise-grade blockchain platform tailored to the healthcare sector’s unique requirements, is set to revolutionize the industry. By harnessing the power of blockchain, the Internet of Things (IoT), and Machine Learning (ML), Medifakt enhances data security and establishes a decentralized network for the seamless exchange of medical information. This cutting-edge project aims to address the challenges faced by the medical industry, including security, disability, and interoperability, by offering a comprehensive platform that caters to the diverse needs of healthcare providers.
“Currently, the medical industry grapples with various challenges related to security, disability, and interoperability. We aim to alleviate these challenges by leveraging blockchain technology and improving the smart healthcare ecosystem. Our platform enables the secure transfer, storage, interpretation, and evaluation of medical data and images, promoting collaboration across subtherapeutic areas and medical specialties,” explains Aditya Tallapragada, CEO of Medifakt.
Developed by AKT Health, a prominent healthcare consulting firm with expertise in clinical research, commercial strategies, and consulting, Medifakt represents a significant breakthrough in the industry. Interakt, a blockchain-based technology firm specializing in decentralized solutions, including CeFi, DeFi Exchanges, Dapps, and gaming, collaborated on the project, contributing their expertise to solve the most pressing healthcare challenges.
At the core of Medifakt lies the Medifakt Network, which comprises four main blockchain modules: the Data layer (leveraging Data Fabric & Data Oracles concepts), the Asset Layer, the Service Layer, and the Security Layers. Together, these modules create a blockchain-secured platform with an incentivization model called HealthNode. HealthNode encompasses electronic health record management, integration of patient-reported data, clinical data management, health economics outcomes research, and supply chain management.
“Patient healthcare records/data are among the most valuable digital assets that healthcare systems process, yet they remain complex. Medifakt aims to ensure transparency in healthcare costs, such as drug development, payments, and insurance premiums, by utilizing real-world data collected through medical devices. Advanced machine learning capabilities will be employed to support secure and compliant patient healthcare outcomes,” says Rashmi Gurnani, CEO of AKT Health.
Medifakt’s ultimate goal is to build a Cross-Chain Patient Data Aggregator with robust identity storage, authentication, and ownership features. With a strong focus on compliance, including HIPAA standards, this solution enables secure digital health communications, encompassing telehealth, chat, voice, and permission-based data sharing.
“We are committed to creating an efficient and convenient platform that leverages blockchain and advanced machine learning capabilities to enhance patient healthcare outcomes and provide a secure and compliant operation. Medifakt Network will grant patients custody of their data, foster data interoperability, reduce operational costs, improve efficiencies, and enhance patient outcomes for healthcare providers,” affirms Aditya Tallapragada, CEO of Medifakt.
The asset layer within the Medifakt Network manages and operates the Token Economy, incentivizing patients for integrating their data and introducing transparency in calculating health insurance premiums. Innovative applications like FAKTR.finance, a healthcare insurance marketplace utilizing a dynamic pricing model, and CONTAKT, a cross-chain patient identity management system, further showcase the platform’s versatility and potential.
“The Medifakt architecture empowers individuals by providing them with significant control over their information. This unique project incorporates functional and technical perspectives, combining traditional pharmaceutical industry practices such as commercial excellence, digital transformation, health economics, and outcomes research, with interoperable and secure technologies such as IoT, blockchain, and AI,” adds Aino Tsukamoto, CEO of Interakt Japan.
For more information, please visit: Website: https://medifakt.com/
