The Medical Big Data Platform MediChain has set out to revamp the health care industry, in particular electronic health records (EHR) and electronic medical records (EMR) maintenance systems, and in the process liberate customers and foster cooperation between hospitals, patients, pharmaceutical companies, insurers and researchers. With its eyes set on such lofty goals, it should come as no surprise that MediChain is attracting the backing of prominent visionaries. The company has announced the appointment to its advisory board of serial entrepreneur Keith Teare, known for identifying and investing in innovative new companies.
MediChain is tapping into demand from patients for a transparent market for electronic medical records and control over their personal information. The company is also attracting pharmaceutical companies and other players to the anonymized big data it will gather on its MediChain Platform.
Coincidentally, early in his career Keith Teare focused on the benefits of shared data and networking. He has ever since identified ways to create and generate value from web-based products. As the founder and CEO of RealNames, he created a multilingual naming system based on natural key words. RealNames was included in the Microsoft browser in early 2000 and was at one stage valued at over $1.5 billion.
In addition to teaming up with Mike Arrington to co-found TechCrunch, an online publisher of news on the technology industry, and Edgeio, a distributor of classifieds and listings, Mr. Teare provided seed money and chaired NetNames, which founded major UK systems integrator Clerkswell, and co-founded CYBERIA, one of the world’s first Internet cafés. He also has significant experience on the market for mobile devices, working with the “search engine for apps” Quixey and business incubator Archimedes Labs. He is currently Executive Chairman of Accelerated Digital Ventures, which provides funding and expertise for UK technology startups.
Mr. Teare has been a strong advocate of the benefits of blockchain technology for a long time now, convinced that it will become an integral part of our lives. He demonstrated this belief with his backing for the most successful ICOs, advising both ICOBox, the premier provider of SaaS solutions for conducting ICOs, and the digital cryptobank Crypterium. Mr. Teare has now turned his attention to MediChain: “When I saw the extent of MediChain’s ambition and vision, I realized that the company has what it takes to overhaul the EHR and EMR markets. They are implementing the long-stated goal of giving control back to patients, increasing the accuracy of medical data and enhancing healthcare efficiency. And at long last doctors will have a chance to study the complete medical record of a patient. MediChain has the know-how to use blockchain to deliver this vision.”
As part of its vision, the MediChain platform will empower patients to decide for themselves which information they want to share with hospitals and other healthcare providers domestically or globally. The company is deploying cutting-edge technologies to achieve its goals, as Teare notes: “MediChain stands out from the competition, as it is leveraging the potential of different technologies. For example, it has been using machine learning in order to dig deeper and reap further rewards from big data. If the company achieves its vision, then I am convinced that this will be a significant contribution to humanity.”
MediChain CEO Doctor Mark Baker was effusive about the new addition to the company’s advisory board: “Like me, Keith is a big fan of big data and the untold opportunities to use blockchain to deliver change, something urgently needed in the healthcare sector. We are both driven by a desire to transform the playing field for everyone’s benefit, and putting the consumer first at all times.”