Timi Coin is a health information exchange built on the blockchain. Find out how it works today in our review.
What Is Timi Coin?
Timi Coin aims to simplify the process of sharing healthcare data between institutions. Today, medical institutions struggle to share patient data with one another: there are privacy concerns and security issues throughout the process, for example, and siloed electronic health record (EHR) systems inhibit interoperability.
Timicoin aims to solve these problems by creating a blockchain-powered health information exchange, or HIE, that would establish the interoperability that’s lacking in today’s healthcare infrastructure.
The end result of the Timicoin HIE would be coordinated patient care, efficient medical systems, the elimination of unnecessary services, and improved data integrity, among other benefits.
How Timi Coin Blockchain Healthcare Exchange Works
With Timicoin, all patient records are stored on the blockchain. Patient records can be accessed securely and in real-time by authorized parties. Data can only be accessed via a smart contract after patient authorization.
The Timicoin Health Information Exchange, or HIE, will revolve around the use of Timicoin Utility Tokens. The HIE is officially called TimiHR. TimiHR users will be able to make Timicoin transactions to validate smart contracts, request or provide data permissions, access invaluable data via the TimiPatient app, or connect proprietary software via APIs.
Patients can use the TimiHR ecosystem to securely store and share their own medical data. However, this patient data can also be utilized by healthcare organizations willing to pay for it.
Pharmaceutical companies could spend Timicoin tokens to access patient data, for example. They could segment patient data on demographic info like age, gender, and illness, for example. Patients would need to authorize the transfer of data to these parties, then receive Timicoin tokens as a reward for doing so.
You hold Timicoin tokens in your TimiWallet, which is connected to the TimiHR system and can be accessed through your TimiPatient app.
How Does The TimiPatient App Work?
The TimiPatient app is the center of the Timicoin ecosystem. The app provides multiple utility functions to patients connected to the TimiHR network. Some of the core features of the app include:
- View data sharing statistics, including how your data is being shared or used based on your previous authorizations
- Manage data access and connected providers who are multicasting their data
- View updated health data in real-time, including sugar levels, disease information, and blood group, among other characteristics
- Access real-time health monitoring information from smart devices connected to the TimiHR ecosystem
- Analyze the effectiveness of diagnoses and treatments, allowing patients to maintain a synchronized medical history from multiple healthcare facilities
The Timicoin whitepaper features mock-up images of the TimiPatient app. The app lets you create your profile after asking for characteristics like your blood group, marital status, sex, country, name, age, and ethnic group. You can also view your records over time, including your glucose readings, cholesterol levels, and weight.
Using the app, you can see how many identity sharing requests are available. You can also see how many times your data has been shared anonymously (say, when selling your data to medical researchers) and how many times it has been shared with your identity (say, when sharing your data with a new doctor or clinic).
Timicoin Health Information Exchange Products & Services
The TimiHR ecosystem will come with all of the following products and services:
This is the decentralized blockchain on which patient data is stored. It enables a profitable ecosystem between patients, hospitals, healthcare organizations, and medical researchers.
This is the electronic data management system that will be used in provider facilities as their lead EMR system or as the connecting point between their existing EMR system and the TimiHR network.
TimiReports is the online portal to view the allowed healthcare data for organizations and patients.
This is the online data management and data search portal where all users can request new data, grant access, or manage available data.
Users interact with the TimiHR ecosystem through the TimiPatient app, individually approving or denying requests for data.
Timicoin Smart Blockchain Features And Benefits
Why do we need to implement blockchain technology into healthcare? Timicoin aims to offer all of the following features and benefits:
Blockchain technology secures patient data to ensure it remains consistent and immutable over time.
Patient data is stored on the blockchain, then connected to each patient using a unique ID. The patient’s identity will not be exposed anywhere on the network unless the patient individually authorizes that request.
Patient information is available in real-time and accessible around the world. Medical researchers, pharmaceutical companies, and other healthcare organizations can reach out to patients in the Timicoin network to purchase data.
What Problems Does TIM Coin Seek To Solve?
The Timicoin whitepaper explains that today’s healthcare sharing ecosystem is fragmented and disconnected. Isolated facilities and siloed user data break healthcare continuity. This means patients struggle to move between organizations, and healthcare organizations struggle to securely manage patient data.
Timicoin aims to take electronic health record (EHR) management out of the hands of healthcare organizations and put it in the hands of the blockchain and patients.
Today’s system is unreliable, unsecure, and inefficient, and it’s difficult for organizations to share patient data. Timicoin wants to solve these problems.
Who’s Behind Timicoin?
Timicoin is headquartered in Austin, Texas. The company appears to have close ties to Mexico, and they appear to be focusing their business on markets in Latin America and Mexico.
In February 2018, Timicoin announced it had appointed IT healthcare expert Dick Escue to their advisory board. Other notable members of the Timicoin team include the UFC’s Michael Bisping, who is an investor in the company.
The website and whitepaper don’t have a “Team” section or an “About” page to provide further information about the company. However, it appears to be a very new company. Most of what we know about the company comes from basic press releases like this one from February 27.
TIMIcoin (TIM Coin) Conclusion
There are a number of companies seeking to use blockchain technology to improve electronic health record (EHR) management for patients. Timicoin wants to create an ecosystem where patients can securely share data with healthcare providers or medical research companies over the blockchain in exchange for Timicoin tokens.
To learn more about Timicoin and its ongoing development, visit online today at Timicoin.io. The company appears to be in the early stages of development, and we don’t have any further information about a Timicoin ICO or token sale at this time.