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Medifakt, is a decentralized healthcare ecosystem, harnessing the power of Blockchain, the Internet of Things (IoT), and Machine Learning (ML) to ensure the safety and accessibility of health data gathered via IoT devices earlier today announced its move to distinguish itself by bridging the gap between technology and medicine.
By creating an enterprise-grade blockchain platform, Medifakt addresses the specific regulatory, operational, and market requirements of the healthcare sector. Medifakt’s primary objective is to securely aggregate and share medical information from multiple sources.
Leveraging blockchain technology, the platform aims to streamline healthcare processes by enhancing data security and enabling comprehensive medical data analytics. This integration of high-level technologies is targeted at overcoming present challenges in the medical industry related to security, interoperability, and data management.
Revolutionizing Healthcare With Medifakt Network
Medifakt Network, a brainchild of the healthcare consulting firm AKT Health and the blockchain-based technology firm Interakt, consists of four fundamental blockchain modules: The Data layer (based on the concept of Data Fabric & Data Oracles), The Asset Layer, The Service Layer, and The Security layers.
These modules, when integrated, form a blockchain-secured platform, HealthNode, an Incentive model. HealthNode is designed to manage electronic health records, patient-reported data, clinical data management, health economics outcomes research, and supply chain effectively.
This platform strives to increase transparency in healthcare costs associated with drug development, payments, and insurance premiums, and to utilize advanced machine learning capabilities to improve patient healthcare outcomes. The resulting product of Medifakt’s dedicated efforts is a secured, compliant platform that processes and stores complex healthcare records and data.
Creating Cross-Chain Patient Data Aggregator
In a move to further optimize healthcare data management, Medifakt is working on building a Cross-Chain Patient Data Aggregator. This solution, adhering to the stringent norms of HIPAA, enables digital health communication via telehealth, chat, voice, and permits data sharing based on permissions.
By ensuring data custody for the patients, Medifakt seeks to enhance data interoperability, operational efficiency, and patient outcomes while reducing costs.
The Medifakt Network asset layer is tasked with operating the Token Economy, incentivizing patients for their data integration, and creating transparency in the calculation of health insurance premiums.
Its applications such as FAKTR.finance, a healthcare insurance marketplace, use a dynamic pricing model to trade various health insurances. Another application, CONTAKT, manages a cross-chain patient identity system.