Massachusetts General Hospital (MGH) and MediBloc to Use Blockchain in Storing And Sharing Patient Data

The Massachusetts General Hospital, which is currently one of the Top 5 hospitals in the United States, is now having a partnership with MediBloc, a Korean startup. The partnership will see the company using the blockchain technology to manage the way it stores and shares their patient data better.

The director of the Laboratory of Medical Imaging and Computation, Synho Do, has affirmed that the main goal of the hospital is to expand its research in a range of different areas that will range from medical image analysis to other other ones using the blockchain technology as well as some cutting-edge technology like machine learning and artificial intelligence (AI). The institutions is a joint venture of the hospital and the Harvard Medical School.

After stating this to the media, the director has affirmed that the collaboration with Medibloc is very important and that the companies are aiming to explore all the inherent potential of the blockchain technology in an effort to provide secure solutions for health information exchange and a better integration of AI applications that can help in the workflow of healthcare.

The Sharing Problem

The main problem that this new solution is trying to solve is that people go to hospitals and information about them is created there and the hospitals keep it as safe as they can, but this creates an issue that the information simply cannot be shared very well exactly because of this issue.

If you have to keep it so secure, it can be difficult to share this information in a practical way and this is why the problems happen. Either the data is incompatible because the institutions do not share the same technology or it is simply too private and secured to be properly shared.

By using the blockchain technology created by MediBloc, the distributed ledger will be used to share information about the patients in a secure way because it is encrypted and only with the right tools it can be unencrypted. IT is also a good idea because the information would be compatible with all using the same blockchain.

While many companies are trying to develop a blockchain that can solve this important problem, most of them are not doing so in the company of big medical institutions like in this case. This helps a lot because instituions such as the Massachussets General Hospital are very important and the blockchain companies can learn a lot from them.

If everybody keeps their own data, it is harder for pharmacies, hospital and research bodies to collaborate. In Boston, cited by Kamran Khan, the CEO of Translo, an IT company that works with healthcare systems, there are 27 different systems for only 17 hospitals, more systems than hospitals, which is simply crazy.

Converting all these systems would be hard and this is the main reason why many companies are struggling to use this system.

Partners In Asia

MediBloc’s main advantage is that the company was able to get many major partners around the whole world. If things are somewhat difficult in America, at least in Asia they are better. Medibloc has partnered with eight medical institutions and 14 technology companies.

The medical institutions even include two important public hospitals in South Korea, the Bundang Seoul National University and Seoul St. Mary’s Hospital.

According to reports, the focus of the institution now is to create an ecosystem in which the companies will be able to exchange data and to build their apps an benefit their patients.

Some of the apps of the company will go live in the first half of 2019 in beta testing phase. One of the pilot tests will see around 300 users selling their information about symptoms and prescriptions to the company, which will analyze their data and sell it to pharmaceutical and insurance companies.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin Giving Strong Bullish Signals, Markets to Roar Higher into Next Year

Today, Bitcoin is on the move, aiming for $11,000, currently trading around $10,915. Adding to this bullishness is all the dry powder. $20 billion worth...

Bitcoin Re-Entering the ‘Intense Historical Trading' Area Following a Strong Uptrend

Bitcoin is back at near $11,000. The leading digital currency has been making its way upwards since the mid of last week. Today, to mark...

Alameda Research and Three Arrows Capital Outdoing Each Other to Mint Record WBTC

On Friday, FTX CEO Sam Bankman-Fried’s Almeda Research minted the biggest wrapped Bitcoin (WBTC) ever, as per WBTC Network. 2317 BTC was minted on Sept....

“Nothing Compares to My Bitcoin Bet,” Says Social Capital CEO Chamath Palihapitiya

Bitcoin was the best performing asset of the last decade, and in 2020, it remains a winner again. Compared to the S&P 500 hitting a...

The XRP Ledger Foundation Launches To Accelerate XRPL Adoption And Development

The XRP Ledger Foundation, a non-profit, announced its official launch on September 24. The Ledger Foundation would be responsible for supporting the development as...

Bitcoin Trading Like a ‘High Beta' But Social Sentiment Remains Subdued

After a somber start of the week, Bitcoin is all set to end it on a higher note. In the late hours of Thursday, the...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today