Blockchain enterprise provider Gem is constructing a distributed network for global healthcare. The firm announced the project with the launch of its initiative Gem Health, which uses a digital ledger protocol to optimize medical data management.
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Gem Health: Medical Management on the Blockchain
Gem Health’s mission is to provide a more secure and globally integrated healthcare system with the use of blockchain technology. The organization plans to use a private fork of Ethereum to develop use cases and applications for the clinical field. Gem’s announcement also reveals the one of the first digital ledger healthcare services, Philips Blockchain Lab will be joining the project. The Gem team explains that its partnership with Philips is just the beginning as it will continue to collaborate with tech companies, care providers, and financial institutions to broaden this emerging market.
Founder and CEO of Gem, Micah Winkelspecht, says that the healthcare initiative will create a new design that connects the medical industry together. Winkelspecht explains in the announcement:
Blockchain technology will create a new fabric that connects the entire healthcare industry, weaving together critical data from every stage of the continuum of care.
Medical records and patient information are crucial to the healthcare system around the world. However, Gem says the industry is plagued with errors, saying, “medical history is fragmented and siloed, preventing doctors and patients from building a complete record of health.” Blockchain technology gives a solution to shared networks with added security and the ability to save tamper-proof data. Winkelspecht says, “Blockchains address the trade-off between data availability and data security— For healthcare, this enables hospitals, insurance companies and labs to connect in real-time and share information instantly and seamlessly— without exposing those channels to theft or forgery.”
The company’s operating system, GemOS, accesses data, queries, programs, and authenticates information on its private blockchain. The use cases go on forever in the medical field, but some of them include open standards for data, patient identification, end-to-end visibility to pharmaceutical company’s inventory, and a lot more. Gem Health will also work with the Internet of Things (IoT) concepts as medical devices are integral to the clinical field and growing more popular every day.
The team researching and developing Gem Health plan to discover the best attributes applied to the healthcare system with the use of digital ledger techniques. The initiative wants to create new and open standards within this field and revolutionize the medical management industry.
“Disconnected agents— within an organization or across an entire industry— can now securely converge on the same information— This will enable a new class of applications that will unlock wasted resources and solve problems in ways we never thought possible,” said Winkelspecht.
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Images courtesy of Gem Health, Pixbay, and Shutterstock