Timicoin: Your Health Information Is About To Hit The Blockchain
Blockchain and cryptocurrency are revolutionizing the way we use money and how we can keep accurate record of how we do many things in our society.
In fact, blockchain promises to solve a lot of challenges we currently face, the challenge is, many seem to still not understand what it is. For example, if blockchain technology was used throughout the United States’ voting system, there would be no way for any party to corrupt the system and rig the election as they have in the past. No more recounts, losing ballots, not knowing accurate count numbers etc. Citizens would even be able to see who voted for who (with anonymity of course) and verify all records. After all, how can the average citizen truly verify accurate voting numbers? Trust? When has our government given us reason to trust them? Blockchain could change the entire world of voting, and this is why the elite are terrified of it, not only for currency, but for many other things. While Bitcoin steals the limelight in terms of blockchain and crypto news, there is so much going on in the space, it’s incredible. In fact, the fact that most people still have no idea what the blockchain is and how crypto works is a true sign of how terrified the elite are of its capabilities. Very little is done within mainstream news to cover crypto and blockchain, primarily because it seems to not suit powerful interests.
The result, minimal coverage and focusing on doubt and fear. Another creative use case for blockchain technology is our health information. Did you know that your health information is a commodity that is collected and sold via third party companies? Most people were unaware of this, including myself. I had no idea that selling health data around the world was a multi billion dollar industry, much like how your data collected from Facebook is. What if you could make decisions on who sees your health information and or make sure you’re compensated for it instead of third party corporations? This is essentially a demand that many people will be making as news of data collecting and selling becomes more popular. Timicoin, a platform bringing together a crypto token and the blockchain, is pioneering the tokenization of health information through a decentralized blockchain ecosystem.
They promise to allow users to monetize their own data, have access to their health information whenever they need it and verify that it is accurate.
The Timicoin platform is built on their own custom blockchain and it’s already fully functioning. This means that in a short time, you will be able to begin using Timicoin’s blockchain to monetize your health data. Analysts believe that Healthcare information on the blockchain will grow aggressively in the coming years given the global need for ease of sharing healthcare information. As mentioned, it’s often difficult for people to fully grasp what exactly the blockchain is and how it will work, so let’s use Timicoin as an example. Patient data would be collected via smart healthcare devices and added to the blockchain where it is encrypted and private. Users would then have access to their own personal data. If they chose, they could then make their data anonymously available to third party companies who could then access that data at a cost. Users who choose to monetize their data would be paid in Timicoin when their data is used. Prior to this however, the data would have to be verified within the blockchain structure. As with standard blockchain structure, miners mine transactions, (verify transactions on the chain) notification is then sent to the patient to verify and confirm. This is necessary given the patient would want to verify their healthcare data is in fact correct. After the patient confirms the accuracy and authenticity, their block of information is encrypted and stored on the blockchain.
The data would then be ready for the community to use.
The end user benefits are monetization and access to their healthcare information instantly anywhere they are in the world. But because Timicoin has built their own blockchain, the possibilities are endless for what the platform can be used for. A full release date has not yet been set, however you can follow Timicoin on Twitter to stay up to date with everything they are doing. .
Read the full article at the original website
References:
