The Doctor Is In

Gary, CAO of Medallion XLN

As a card-carrying SAG-AFTRA actor, I’ve had the honor of playing many roles. I think I’ve played the role of a doctor more than any other role. Dr. Montague in Brotherly Love, Dr. Marshall Boyd in Prelude To A Kiss, and a print campaign as a doctor for Anthem Blue Cross/Blue Shield. However, in my numerous roles as a doctor, I never had to worry about HIPAA rules and protocol, juggling patients, delivering life-changing news, or prescribing prescriptions. I’ll leave that to the real doctors. Sorry, Meredith Gray. Real doctors deal with these situations and innumerable challenges daily. Having a loyal, dedicated, competent, and supportive staff makes all the difference in the world to the doctor and their patients. Many healthcare organizations, if not all, are always looking for a way to be better providers. Many have started looking at blockchain to do just that.

In an article from the Blockchain Council by Toshendra Sharma, one of the main reasons for healthcare providers to turn to blockchain technology is security. According to news reports, between the years 2009 and 2017, 176 million patient records have been exposed in data breaches. While a blockchain is transparent, it does not compromise the privacy of data as it conceals the identity of an individual by way of complex codes which protects the sensitivity of medical data. A blockchain is a distributed decentralized ledger that is spread across a network that is shared peer-to-peer. This means data exchange happens directly with no central authority which controls or manipulates it. A blockchain, composed of blocks, a collection of data, is immutable as it is impossible to change data once it is added to the blockchain. This is why blockchains are so trustworthy. It allows doctors, patients, and healthcare providers access to the same information quickly and safely.

BurstIQ, Medicalchain, Factom, Iryo, Guardtime, EncrypGen, Chronicled, SimplyVital Health, Coral, and Blockpharma are the top ten companies applying blockchain in healthcare security. Two of these companies stood out to me as I read what they were offering. EncrypGen helps people sell DNA information for cryptocurrency tokens. Yes, you read that sentence correctly. It plans to build a unique blockchain platform that will enable people to share genomic data securely for cryptocurrency in the genomic data market. Genomic data refers to the complete set of DNA, which includes all the genes. However, certain experts have warned that the de-identification process would reveal other private data. I feel like I just read the synopsis of a Stephen King movie that does not end well for humanity.

However, Blockpharma, a French startup, uses blockchain technology to fight drug counterfeiting. Which is a worldwide challenge. Counterfeit medicine refers to a fake medicine that is contaminated, contains the wrong ingredients, or has the right active ingredients at the wrong dose. In an article in healthy women, Counterfeit Medicines Kill People, Phyllis E. Greenberger states that many counterfeit medicines aren’t even drugs at all, but rather snake oil cures that make people sick. They may even contain dangerous ingredients such as heavy metals, highway paint, or even rat poison. The World Health Organization (WHO) estimates that over 1 million people die each year from these substandard drugs. It’s estimated that 10% of all pharmaceuticals in the global supply chain are counterfeit in normal times, and during COVID-19, the increased use of telehealth and the appearance of fraudulent doctors have led to a surge in drug fraud. Using blockchain technology aids in drug traceability. It allows participants to interact with the supply chain and alert labs in case of fake drugs. Blockpharma developed an app that will control the origins of purchased medication. Now that’s a great origin story.

At Medallion XLN, we aim to write our story with the help of all of our subscribers, investors, and the tireless work of our incredible team. Hang in there with us. Invite a few thousand friends. We’ll order more pizza and champagne. Don’t judge. Just get ready to toast to our launch. That baby’s about to pop!

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