While there are a vast amount of medical records available online, it is not easy to find the right data to be used for research. This is due to poor quality data and lack of transparency. Obtaining accurate, reliable data can improve medicine and therefore people’s everyday lives on a global basis. These data issues could be solved by blockchain technology.

Aimedis was founded in 2020 and is a platform that uses blockchain technology to offer a variety of affordable, effective services such as teleconsulting and appointment management. It also offers medical records and prescriptions.

It is currently active on almost all continents, with many patients already signed up and the goal to have 1 million by 2022.

Aimedis will launch the first medical and scientific NFT marketplace starting in November with a trial for cancer.

Ben J.O. and El Idrissi were the founders Aimedis. El Idrissi, and Michael J. Kaldasch are both doctors who have been in the medical and pharmaceutical fields for more than ten years. Kaldasch spoke out about the problems in the pharmaceutical industry and the ways that blockchain technology can help improve the quality of healthcare data and research.

It is time to revitalize the pharmaceutical industry

It is difficult to find time and money for pharmaceutical trials. Trials are costly for the pharmaceutical industry, with around 90% of them failing. The medical industry has a lot data, and sometimes dummy data is used for trials. However, drugs sometimes work and can be verified even after unsuccessful trials using inaccurate data.

“We’ve been working in the pharmaceutical industry for quite some time and we know well the insights of it. While I worked as a drug safety officer, I also did trials with large pharmaceutical companies. Problem data was something I dealt with, so I got to see the entire process of data generation and use.

There were often a lot more paper sheets than necessary with difficult-to-read and accidentally deleted information. Even when you take a look at electronic documents, you still don’t know what has been changed, and whether the data is real and genuine,”
Kaldasch explained.

People are often exploited, particularly in developing countries. They participate in drug trials and don’t even know it. This is why corporations and individuals make a lot of money collecting data while the patients suffer.

Blockchain Could Bring Medical Industry High Quality Data

Aimedis hopes to transform the entire system with the NFT market. NFTs can be generated by doctors, nurses, researchers and other health care providers. These NFTs will allow them to insert anonymized data and to sign and sell the data to AI and pharmaceutical companies, as well as researchers and researchers. It is crucial because even though artificial intelligence is a powerful tool, it is not possible to use advanced technology if data are inaccurate or of low quality.

Kaldasch explained that the platform works in such a way that no one would have any access to patients’ information. Patients will have to opt in actively to having their data stored or used by NFTs. The trial will have a dashboard that provides information. Individuals will be allowed to choose whether or not they want to submit data, but this depends on how much data is needed. To avoid creating dummy or false data to make money, participants will need to be referred to healthcare professionals. Only healthcare professionals are allowed to upload the data, which is called an NFT. Participants can remain anonymous and be treated as such by their doctors.

“Another important fact is that we finance the trials that we do while we are selling the NFTs. We are therefore independent of the pharmaceutical sector. Consider a drug being tested. Normally, the pharmaceutical company that produces the drug finances the trial, which can be problematic,”
The CEO of Aimedis stated this.

Aimedis is also trying to prevent the issue of falsified data in the pharmaceutical sector. This allows companies to save time, money and effort. Each NFT that is purchased has a particular structure. These companies can rely on NFTs to purchase valuable data and they will be able to rely upon them for that.

When someone asks about the price of medical data from patients with cancer or heart conditions, it’s impossible to give an accurate quote, because for each trial there are separate prices. It all depends on how much effort and how much money was put into the generation of patient groups and the study’s design. After some time, NFTs will allow you to price your products.

“We also have the opportunity to start trials and examinations regarding orphan diseases, where the pharmaceutical company is not so active because there are not many people suffering from such illnesses,”
Kaldasch underlined.

Since the pharmaceutical industry must earn money from what they do, producing certain drugs and looking for cures for rare diseases isn’t profitable, due to the low number of people who would buy the drug.

The AIMx Token & the New Project

NFT’s AIMx token can be found in the marketplace. The token is available for purchase or minting. Users who use the token will receive a discount. It is intended to be a motivator for the token’s use in the NFT market. AIMx is a multifunctional token that can perform a variety of functions, including utility, governance and DeFi. It even has the potential to be used as a social one.

With the launch of a social medical platform, patients will have access to each other and can create support groups. Next year’s social component will also be available. The information will be valid before it is shared by healthcare professionals. The token holders who have the ability to decide the functions and the content of Aimedis as well as those within social media channels will exercise governance.

Flipside

• Blockchain technology cannot be used in healthcare without being combined with other systems and having enough people participating in clinical trials.
• The industry will need to adapt technological changes slowly.

What Are You Responsible For?

Global demand exists for transparency and improvements in medical data. The medical sector can benefit from blockchain technology, which can help provide transparency and clarity in medical records and tools to doctors and researchers to connect with patients and hospitals around the world.

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