WHY WE NEED IVIRSE DATA MARKETPLACE

IVIRSE
4 min readNov 4, 2022

Health information exchange is a challenge of the healthcare industry because it is time-consuming and high cost. With IVIRSE data marketplace (DataHub), the problem will be solved as citizens can take part in health study programs. DataHub applies blockchain technology which allows researchers to perform better research with high-quality data. A centralised database is used to operate the whole healthcare system and organizations.

Source: https://wallet.ivirse.com/data-hub

Overview Of Data Marketplace

Data Marketplace was built to help patients share their medical health records from their IVIE app to IVIRSE platform. Datahub was developed to make it possible for the patient to profit from the health record, the buyer has more information in the record (when buying-selling) to do research and development in the field medical. Additionally, the identification of novel strains and pathogens from medical records contributes to the development and expansion of the medical sector. All business dealings between buyers and sellers are conducted under tight confidentiality agreements that protect both parties’ assets and financial information.

IVIRSE cooperates with IVIE so that users can share data from the IVIE app easily and securely. All health data will be certified by ISOFH, ensuring an accurate and transparent source of information. Users would have complete access to their data and be able to sell it to any buyer agents they choose. On the other hand, these buyers are also safeguarded since blockchain technology provides data integrity protection and non-interference, and guarantees their full agreement to data usage.

Data Marketplace Provides Transparency

Accessibility to and transparency of patient health data is a problem in the healthcare sector. This information is a valuable resource for medical facilities, but unfortunately it cannot be accessed owing to user data privacy. Because doing so would violate individuals’ privacy, personal health information cannot be made available to the general public.

With Data Marketplace, patients have complete control over the packaging, sharing, and monetization of their data thanks to IVIRSE. Patients can use their own Electronic Medical Records or Personal Healthcare Records and package them into NFT assets via the Data Marketplace offered by IVIRSE. These resources will be completely secured and only the patients will be able to access them. They can decide to share the resources or even sell them on the Data Marketplace. Blockchain technology will be used to operate and protect all transactions.

Medical facilities like hospitals, clinics, research centers, etc., would gain a lot from this platform as they may use IVI tokens to seek access to any health data they want. Additionally, our platform also protects their information. Their data is warranted and protected by blockchain technology.

Credit image: freepik.com

Data Marketplace Guarantees Data Integrity

It is becoming more and more important to take steps to safeguard the accuracy of the data collected. Data safety in terms of legal compliance and security is referred to as data integrity. It is upheld by a set of procedures, guidelines, and standards put in place at the design stage. Data Marketplace brings the solution to data integrity issue as information saved here will be accurate, complete, and trustworthy no matter how long it is kept or how frequently it is accessed.

Data integrity is important because it keeps the process going. The accuracy of the data is what enables you to keep an unaltered and complete database when there is a continuous flow of data. The security and safety of health data will be ensured via data integrity. Additionally, it will make it possible for accurate analysis and the ensuing reporting to support sensible judgments.

Data Marketplace Assists Both Patients And Medical Facilities

The confidentiality of patient data is one of DataHub’s most obvious advantages. The use of blockchain technology will ensure the security and privacy of all patient data. On the data marketplace, users are free to execute data retrieval, storage, sharing, and monetization operations on their own health records. Since patients can decide where to store their data and who to share it with, they have complete control over their health information.

Health data is a useful resource for medical facilities, such as hospitals, research facilities, clinics, and pharmaceutical businesses, for use in scientific or commercial applications. However, due to privacy policies, it is challenging for them to get access to patient health data. Patients can connect with third-party purchasers (medical facilities) through DataHub’s blockchain-based intermediary marketplace, where the transaction asset is the patients’ health data. Medical institutions can speed up the processes for clinical trials and drug production with the help of this information.

Credit image: freepik.com

Summary

Medical facilities and patients have a high demand for simple, secure methods of collecting, exchanging, and consulting data across networks. Data Marketplace promises to satisfy all consumer needs by utilizing Blockchain technology. Blockchain is both transparent and private, keeping any person’s identity behind intricate and secure algorithms that can maintain the sensitivity of medical data. Data on test results, patient records, and other characteristics can all be recorded and exchanged on IVIRSE DataHub. Blockchain technology will help increase accountability and transparency in these clinical studies.

For more information about this project, please visit the website: https://ivirse.com

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