Consumer data is worth billions, yet individuals have little control over how it is used. Consumers’ obscure day-to-day activities are capitalistic opportunities for profit-driven corporations—resulting in privacy abuse, manipulative ads, and volatile insurance costs. Leaking medical data would be even more disastrous for regular individuals.
This is where OpenMed comes in. We’ve developed a secure blockchain platform that enables regular people to control their medical data. OpenMed allows signups for two different types of users: patients and researchers. Patients’ medical records are stored and encrypted in a peer-to-peer network. Using the RSA algorithm, public and private keys are generated for all users. This approach ensures that patients may selectively grant data access to researchers while blocking third parties and alleviating consumers’ concerns for data privacy.
We built OpenMed on BigChainDB, which uses Tendermint and MongoDB to enable high transaction rates, low latency, indexing and querying of data. Tendermint is used for all networking and consensus protocols and ensures that the system is byzantine fault-tolerant (BFT), which further secures the database. Additionally, users can give conditional access to researchers based on the terms of a smart contract on the Ethereum blockchain network.
With the need for data growing exponentially in the research space, OpenMed is crucial. OpenMed is a digital and consumer-centric model of a medical data marketplace; one that would not only alleviate the lack of data security and accessibility in the healthcare industry but also drive sustainable medical research.
What inspired you (or your team)?
Medical data, from electronic health records to clinical studies, is a valuable digital asset that is heavily exploited. In the first half of 2019, 32 million patient records were breached. This is more than double the 15 million hacked in all of 2018, according to a recent study done by Protenus Inc and DataBreaches.net
To solve this problem, we created OpenMed. Our mission is to ensure data privacy and accessibility in the digital transformation of healthcare. OpenMed’s focus is to help create a patient-centric system to improve the quality of care for everyone.
As visionaries who aim to solve some of the world’s most complex problems by leveraging exponential technologies, we zeroed in on the healthcare industry to enact this vision. Our mission is to empower patients with an immersive platform that will enable them to gain full control over their personal health data. We each have a burning passion to create disruptive and innovative applications of technology in fields ranging from blockchain and autonomous vehicles, to artificial intelligence and quantum computing. In combining our unique skill sets, we developed OpenMed.