MediChain

Elevator Pitch: Imagine a world where your medical records are securely encrypted, stored on a decentralized platform, and accessible only by you and those you authorize. MediChain makes this possible, revolutionizing healthcare data management by ensuring privacy, control, and seamless sharing for research— all while reducing costs and empowering patients.

Concept

A decentralized platform for securely storing and managing user medical records using blockchain and IPFS technology, with a focus on privacy, user control, and facilitating authorized data usage.

Objective

To revolutionize the management and utilization of medical records, ensuring data privacy, user controllability, and commercial usability while reducing costs for healthcare research access.

Solution

MediChain leverages EVM-compatible blockchain and IPFS for decentralized data storage, employing Proxy Re-Encryption (PRE) for enhanced privacy and control. It enables secure and efficient access to medical records for authorized users, utilizing smart contracts for user consent and data integrity.

Revenue Model

Subscription fees from healthcare providers and research institutions for access to the decentralized medical records platform, transaction fees for data access requests, and premium services for advanced data analytics.

Target Market

Healthcare providers, medical research institutions, and patients seeking secure, controllable storage and sharing of their medical records.

Expansion Plan

Initially focusing on partnerships with hospitals and research institutions, followed by scaling to include insurance companies and eventually integrating wearable health tech companies for real-time health data updates.

Potential Challenges

Technical challenges in maintaining data consistency and accessibility, user adoption barriers, and ensuring global regulatory compliance.

Customer Problem

Lack of control over personal medical records, privacy concerns, and the inefficiency in sharing medical data for research and treatment purposes.

Regulatory and Ethical Issues

Compliance with global data protection and privacy laws (e.g., GDPR, HIPAA) and ensuring ethical use of medical data without compromising patient privacy.

Disruptiveness

MediChain disrupts traditional healthcare data management systems by empowering patients with control over their data, ensuring privacy, and simplifying the process for medical data usage in research.