Bitmark has created a specialized blockchain application to convert personal medical data - with patients' authorization - into digital assets that can be sold, licensed and transferred peer-to-peer, a practice that can be feasible in Taiwan, which boasts sound environment for medical innovations, according to company CEO Sean Moss-Pultz.
He said Taiwan boasts comprehensive personal medical data, which can, through cooperation with the National Health Insurance Administration, be directly connected to, stored and analyzed in a cloud blockchain system for further applications based on consents from patients.
Moss-Pultz said there is no need to worry about software and hardware infrastructure requirements, as what really matters are the application framework and business model. He said his company has established a property rights system where digital property titles, or "bitmarks," are assigned to digital assets and recorded in an open-source Bitmark blockchain, creating a permanent and unique ownership history that allows data to be authenticated, bought and sold.
Moss-Pultz disclosed that Bitmark is cooperating with Health2Sybnc, a diabetes log app, on medical data application, seeking to integrate personal data of diabetes patients via the IoT system before they can be inspected and licensed through the handset app.
He continued that Bitmark will start with the application of medical data associated with diabetes, ophthalmological diseases and wound care services to create wealth for patients and boost public awareness about the value of medical data.