ICONLOOP has developed a disease predicting system that is based on Blockchain technology. This is a service that can forecast a person’s health as far as three years from now. The company revealed on Medium that the aim of the system is to help people to manage their health information and also have more affordable insurance coverage.
Disease Predicting System Based on Blockchain Technology
The ICONLOOP system is known as, Lifelong Healthy Life and it is powered by a Blockchain engine called Loopchain. This system was developed in collaboration with other health companies. The companies are Kyobo Life Insurance Co., a Korean life insurance company and LifeSimantics Co., a digital health company.
Lifelong Healthy Life uses disease forecasting algorithms to predict how a healthy a person will be in the future — the system stores data about a person’s state of health on the Blockchain. This data is then accumulated over a period to determine if they are at risk of any health challenges in the future.
Health Data Stored on Blockchain is Easily Accessible Anywhere
Additionally, the stored data can be accessed from anywhere and by anyone that has been granted access rights. Moreover, being able to access this data means that people will have more control over their health data as well as insurance information. This data is also said to be immutable, and as such, it cannot be altered.
ICONLOOP said that the method it employes in its forecast would give customers more reasonable and affordable healthcare options. This is because the insurance coverage it offers is based on the future risks that may occur. This differs from the existing system which predicts risks using the insurance subscription data that has been made available.
Project Aims to Implement an Empirical Model
According to the company, the aim of the project is to implement an empirical model that is based on verifiable facts. This is made possible with the use of “InsureTech, digital healthcare, and blockchain data authentication technology.” They also stated that there are plans to expand the system so that it will be more secure.
ICOONOB can be said to be one of the companies trying to develop a Blockchain-based system targeted at health. Recently, a report was made about a poultry tracking system that will be launched in Spain. This is a system that seeks to track healthy chickens that have not been treated with antibiotics. It will give consumers the confidence that they have purchased a quality product that won’t cause health problems.