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.

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.

“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.