Company to Store Healthcare Data on Blockchain Platform for Simple and Secure Data Sharing

Data storage in healthcare industries is of critical importance.

The new platform Timicoin aims to enhance patient data safety through blockchain technology.

The Timicoin white paper defines an HIE as "a reliable and interoperable electronic sharing of clinical data obtained by the patients, physicians, nurses, pharmacists and other health care [sic] providers across unaffiliated institutions which in turn creates a network effect." The team claims that this will allow for the simple transfer of patient data, no matter where in the world they are being treated.

The TimiHR ecosystem will be powered by the Timicoin Utility Token and also feature the HIPAA compliant TimiChat private messaging service to allow secure communications between patients, providers and other data users.

TimiCloud is a secure storage platform also featured on the app, used for all blockchain backups and data index references.

Firstly, daily activity data from wearable smart healthcare devices is provided with the patient's permission.

TimiHealth's "Query Engine" can then mine patient records when a consumer requests access to the data, and once the contract and payment have been confirmed and processed, the private data records can be shared - via blockchain - directly between the provider and consumer.

Finally, the Hyperledger system will enhance privacy by implementing a "Permissioned blockchain network that will define user roles and access based on the type of user and the payment contracts." This data will remain on the healthcare institution's computer, unless shared on the Hyperledger channel after the contract has been initialized.

According to the company, this approach to healthcare data storage has been welcomed by some prominent medical professionals, with Jim Bonnette, M.D., outlining the positives that tokenization can bring to healthcare.

Timicoin, with their advisory board based in the U.S. and technology teams in Puerto Rico, India and London, could be set to simplify and secure how healthcare data is stored, as well as enhancing how it can be best used to further the development of modern medicine.