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Medifakt: Empowering Healthcare through Decentralized Blockchain Technology

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Medifakt, an enterprise-level Decentralized Healthcare Ecosystem, uses a combination of Blockchain, the IoT, and ML to enhance the security of the collected data through IoT devices and feed them to a decentralized network. It is working on an enterprise-grade blockchain platform tailored to the sector’s regulatory, operational, and market needs. The project’s primary aim is to securely share medical information and data with complete traceability, aggregation of medical information from multiple sources, and utilize medical information for Big Data Analytics.

“Currently Medical industry has a lot of challenges in terms of security, disability, and interoperability so we want to help and solve those challenges. We created a platform using blockchain technology to improve the smart healthcare ecosystem for patients that permits and supports the transfer, transmission, storage, interpretation, second opinion, and evaluation by artificial intelligence of medical data and medical images across all subtherapeutic areas and medical specialties which we could cater to the needs of the healthcare industry,” –Aditya Tallapragada, CEO of Medifakt.

Medifakt is a project developed by AKT Health, a healthcare consulting firm with capabilities in Clinical research, commercial strategies, and consulting. Interakt, is a Blockchain-based technology firm building multiple projects in decentralized space including CeFi, DeFi Exchanges, Dapps, and gaming.

“Spinning off a new domain in this area is an opportunity for us to combine the powerful technology which is built by the Interakt team of domain leaders to solve the biggest challenges in healthcare.” – Aino Tsukamoto, CEO, Interakt Japan.

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The team built a network called Medifakt Network which has four main modules in Blockchain –

  • The Data layer (using the concept of Data Fabric & Data Oracles),
  • The Asset Layer
  • The Service Layer
  • The Security layers

which integrated to create a blockchain-secured platform with an Incentive model – HealthNode covering electronic health record management (including integration of patient-reported data), Clinical Data Management, Health Economics Outcomes Research, and Supply chain.

“Patient Healthcare records/data are one of our most valuable digital products that healthcare systems process and one of the most complex. Medifakt will ensure the real-world data collected through medical devices which will solve the transparency in healthcare costs in drug development, payments, and insurance premiums. It will also aim to use advanced machine learning capabilities to support the patient healthcare outcomes in a more secure and compliant way.” – Rashmi Gurnani, CEO, of AKT Health.

Medifakt aims to build a Cross-Chain Patient Data Aggregator with Identity Storage, authentication, and ownership. Our HIPAA-compliant solution securely enables all modes of digital health communication like telehealth, chat, voice, and permission-based data sharing.

“We are on a mission to create an efficient and convenient platform using blockchain & advanced machine learning capabilities to support patient healthcare outcomes and provide a more secure and compliant operation that allows patients to access medical records, manage and communicate. Medifakt network will give custody of data to the patients and create data interoperability, reduces operational costs, improves efficiencies and improves patient outcome for the providers. – Aditya Tallapragada, CEO of Medifakt.

The Medifakt Network asset layer will manage and operate the Token Economy incentivizing the Patients for their Data integration and creating transparency in calculating the Health Insurance premiums. Applications like FAKTR.finance  is a Healthcare Insurance Marketplace to trade different health insurances using a Dynamic Pricing model and application CONTAKT covering cross chain Patient Identity Management system.

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The Medifakt architecture provides individuals great control over their information. This unique project has two main directions from a functional and technical perspective, the functional aspect of the project looks into how traditional pharmaceutical companies have been dealing with commercial excellence, digital transformation, health economics, and outcomes research while the technological aspect goes beyond the traditional methods to complement the existing technologies with interoperable and secured technology combined with IoT, Blockchain and AI.” – Aino Tsukamoto, CEO, Interakt Japan.

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Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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