Iryo ICO Token: Distributed Blockchain Healthcare Network?
Iryo.io aims to redefine global healthcare using blockchain technology. Find out how it works today in our review.
What Is Iryo?
Iryo.io wants to provide medical data through a decentralized, blockchain-based network. Iryo will create a globally interoperable medical data storage system using openEHR archetypes, allowing patients to take their medical histories with them wherever they go.
Iryo is one of a number of companies aiming to disrupt the healthcare industry using blockchain technology. Today, healthcare data – including patient data – is stored in siloed data storage systems in different medical institutions. These storage systems are rarely interoperable. That means medical clinics don’t always know all relevant details about each patient.
Iryo seeks to solve that problem by adding medical data to the blockchain. Patients are responsible for controlling their own healthcare data. They can choose to share it with whichever healthcare organizations they like.
How Does Iryo Distributed Blockchain Healthcare Network Work?
Iryo is based on the following five core concepts:
Useful Health Data On The Iryo Network:
The Iryo Network will offer globally interoperable medical data with openEHR archetypes. Patients will be able to store data on the Iryo Network, then take their medical histories with them.
Iryo’s public blockchain will have zero knowledge encrypted health data. Patients can securely share their medical history via the public blockchain access control.
Iryo tokens are used to create incentives in the system. Patients are incentivized to share their own medical data with researchers. Patients who choose to share their data will receive compensation in the form of Iryo tokens.
Iryo supports the creation of cross-platform medical apps within the healthcare ecosystem, allowing open source collaboration.
Iryo will have a global network of Iryo-certified clinics that “will create a global shift towards patient-driven healthcare,” explains the official website.
What Problems Does Iryo Seek To Solve?
Iryo believes the medical industry is facing serious problems with data ownership, data storage, and data usability. Some of the problems mentioned by Iryo include:
Problems For Patients
- Patients are forced to store their data in institutions where they have limited access to their personal medical records
- There’s limited inoperability between institutions, and patient medical data is fragmented across a variety of incompatible systems
- Medical institutions often use low-level security, which means unauthorized parties can exploit personal medical data
Problems For Medical Staff
- Redundant medical systems mean staff are forced to enter similar data across multiple systems, reducing efficiency, increasing costs, and decreasing the quality of patient care
- Medical institutions use outdated user platforms, increasing wait times for treatment and disrupting medical workflows
- A lack of IT support can lead to improper decision-making and decreased working efficiency
Problems For Researchers
- Researchers face limited capabilities due to vendor-specific medical data, hindering effective AI and big data analysis and disrupting the development of advanced medical AI systems
- Fragmented data leads to a narrow research scope, inhibiting the ability to accurately target specific populations
- Ineffective data gathering leads to increased research spending, raising costs unnecessarily across the industry
Problems For Clinical Managers
- Hospitals and clinics are locked into vendor-specific IT ecosystems, making it difficult to choose the best technologies for the task at hand
- Legacy medical systems disrupt workflows and increase managerial overhead, leading to ever-increasing medical costs
- Locally stored medical data is subject to cybersecurity attacks due to centralized, low-level security
Iryo Features And Benefits
Iryo aims to solve all of the problems above with the following features:
Patients have complete access and control over their own medical record.
Interconnected systems allow for highly effective treatment options. When patient data storage systems can communicate with one another, it leads to lower costs and better patient care across the industry.
Healthcare records are stored in a zero-knowledge (i.e. anonymous) blockchain, then secured with modern cryptography.
Single Entry System For Staff:
Iryo keeps data points consistent across all systems within the clinical workflow. Staff only need to enter data once.
Iryo is built to make medical systems more efficient, and an easy-to-use UI is a big part of it.
Iryo has IT support staff standing by to assist with operations.
Augmented Research Capabilities:
Iryo will collect patient data into standardized medical data sets, enabling the utilization of big data for AI development and machine learning.
Broad Research Scope:
Researchers can gain targeted access to large pools of highly-effective, anonymous medical data.
Standardized data gathering solutions lead to a decrease in institutional expenditure, which means lower research costs for organizations.
Companies are no longer restricted to a single vendor. Iryo will enable medical institutions to be flexible when choosing third party providers.
How Does The Iryo Network Suite Work?
Key features of the Iryo Network Suite include all of the following:
Standardized Health Data:
The Iryo network is built on openEHR archetypes to enable globally interoperable healthcare data.
Zero Knowledge Data:
Medical data is encrypted using blockchain-based zero knowledge protocols for maximum security and privacy.
Iryo provides unified electronic health records (EHR), enabling the efficient exchange of patient data between subjects of trust.
Open Source API:
Iryo encourages developers to create their own solutions using Iryo’s open source API.
Who’s Behind Iryo?
Iryo is led by Vasja Bočko (CEO), an entrepreneur with a background in corporate financing, investing, and product development. Vasja has 8+ years of experience building and deploying digital solutions, including positions at UniCredit, 3fs, and Bitstamp.
Other key members of the team include Dominik Žnidar (CTO), a senior developer with a proven track record of creating secure and robust back-end systems.
Iryo is based in Kranj, Slovenia. The company was founded in 2017.
How Do Iryo Tokens Work?
Iryo tokens will be the main transaction method within the Iryo ecosystem.
Medical researchers can use Iryo tokens to reward patients for sharing medical data (anonymously), for example.
There will also be a token locking scheme that holds institutions for any mismanagement of medical data.
Iryo IRYO ICO Details
The ICO for Iryo tokens (IRYO) is scheduled for March 28 to April 10, 2018.
Iryo is accepting ETH and EOS during the token sale. There’s a soft cap of 8 million Iryo during the token sale and a hard cap of 26 million.
Iryo is a Slovenia-based company seeking to disrupt the global healthcare industry by creating the first open-source openEHR platform. The platform will allow patients to securely store medical data, then share medical data with researchers in exchange for Iryo tokens.
To learn more about how Iryo aims to disrupt the global healthcare industry, visit online today at Iryo.io. The platform is scheduled to launch in 2019.