Iryo Network —Anonymized Healthcare Data Storage
Healthcare data is extremely sensitive information, as such storage and security is of utmost importance. The team behind Iryo Network perceives medical data as a “toxic asset”, as there is an enormous amount of liability holding this information in one centralized database. The solution, as proposed by Iryo Network, is to store data within three geographically and managerially redundant storage nodes: the Iryo Network cloud, locally encrypted data at a said healthcare facility, and lastly distributed end user devices (phones). Storing data through both centralized and decentralized systems enhances security and privacy for patients while providing ease of access for research institutions and medical facilities.
Currently, researchers find study participants by advertising in healthcare facilities or posting ads online. Iryo Network allows institutions to request data from users and compensate them in IRYO tokens.
Private key storage is a serious issue if adoption is to be taken seriously. These long, random combination of characters and numbers are to much for average users to comprehend and use regularly. Through a long and complex process involving users, clinics, and personal doctors, private keys are always kept safe without the need for users to store keys themselves.
Strength and Potential:
- Healthcare data storage is a serious financial burden for institutions, and frankly a giant pain in the ass. Data breaches are common and costly, averaging $380 per record.
- Institutions often use different software, transferring data from one facility to another is a lengthy process.
- Researchers spend valuable time searching for participants, Iryo Network streamlines this process. Additionally, global users can participate in local studies.
- Iryo Network has a clear adoption roadmap, how clinics will utilize the token, how patients will use the platform, how private keys will be stored. All aspects surrounding adoption are discussed in great detail.
- The system has already been tested, and is in use at a mobile clinic in Amman, Jordan.
Shortfalls:
- No matter the model, users and facilities must take part. Marketing such an advanced concept may prove to be difficult.
Verdict:
The Iryo Network whitepaper is one of the most well written and thought out ICO documents I have read. While many medical data-based ICO’s have hit the market, Iryo Network is one of the few to provide a comprehensive solution to data storage and security, as well as tackle serious adoption issues facing cryptocurrency based projects. The team is extremely accomplished, with CEO Vasja Bocko holding a previous position at Bitstamp. Considering how the system is currently in use, I will be entering a long term position.
