The blockchain-based company Timicoin announced its partnership with First Vitals as of August 17, 2018. In a world where demands from our health care providers have increased, many are turning to blockchain technology to maintain their edge.
TimiHealth Chosen for Closely Aligned Values
First Vitals will be using the blockchain platform for storing data in hopes of aiding the company with their operations through the state of Hawaii.
First Vitals, Inc. and Timicoin/TimiHealth Join Forces to Bring Blockchain Healthcare to the State of Hawaii https://t.co/wkVBv1DJol
— Timicoin (@timicoin) August 17, 2018
First Vitals had vetted several potential blockchain providers and decided to choose TimiHealth (also known as Timicoin) as their goals most closely aligned. Their mutual desire to prioritize care of the patient as well as empowering individuals through incentivization made it ultimately an easy decision.
With science further extending people’s lives, healthcare has become more and more important in society. As people age, healthcare providers need to be able to diagnose and address a variety of needs from toddlers to the elderly.
Helping a Crippled Health System
With the American health care system in the current state it is and the future of healthcare currently unknown, people should have another option when it comes to selecting who will take care of not only them and their families.
Blockchain technology was needed as current value-driven health now requires an infrastructure that can provide on-demand access to data in real-time. The innovation backing bitcoin and other cryptocurrencies has not only made this possible, but can do it transparently, cost-effectively, and reliably.
As healthcare management systems contain heaps of sensitive information about patients, a lot of trust is put into few, centralized servers. These points could easily be targeted by anyone looking to wreak havoc or any other malicious activities.
By implementing a distributed ledger that could not only encrypt the data but split it up so that each node only has a small portion of the data, health care providers could mitigate risks and potentially save millions from avoided lawsuits or other costs following data breaches.
Although the partnerships blockchain will initially be used to store sensitive information, First Vitals is excited to explore other potential use cases with Timicoin in the future. The health company will be able to address a high need, chronically ill population through a new care management system that is more efficient than ever before.