SINSO Empowerment A Decentralized Health Data Trading Center — Peer To Peer Transactions
Blockchain’s core value for medical data storage and sharing is to realize non- tampering and traceability, and ensure data safety. It is an upgraded protection mechanism based on traditional information storage and access. 13Compared with traditional centralized storage methods, distributed data storage supported by blockchain technology reduces risks and increase security. In terms of management , it avoids monopoly of centralized storage institutions on medical data, as well as black box operation.
Medical data is very sensitive, there are strict restrictions on this in laws and regulations, such as the privacy protection regulations of HIPPA . According to a Gaplow poll in the US, 66% of respondents are against data availability to data diggers. The biggest concern is privacy. Medical data are under law protection no matter in China, US, Africa or European Union, patients has absolutely right to deal with their own data and no one can infringe their rights on this. It will be
difficult for any centralized organization to trade medical data continuously, or else they are easy to get public criticism.
However, using “one size fits all” approach to prohibit data digging thus protect data does not fit our social changes. Today ,our demand is to circulate the data, and make a balance between privacy protection and medical data circulation. But a completely decentralized system should be doing it, instead of a centralized organization. 14It’s difficult to identity and prevent data digging organizations from doing evil, and relying on the law to punish them is not helpful.
SINSO has the mission to build up a “decentralized trading market for medical data”, it will be an open source ,machine driven, highly secure net work managed by community. This key function will be supported by SINSO Donors Network. We know that medical data is of great value. For example, 1000 MB of medical data may contains a high precision CT tomography of a body part, and user pay $500 for a diagnosis ( US market price ). 1PB carries 10,000 copies of such records, that users need to pay up to 500 million US dollars to deposit such data. These are just basic data, the value will increase if we classify and process them.
In order to increase the public’s interest in medical data assets. We provide a NFT medical data assets issuance platform, together with assistant tools on it, Web3D and DICOM3 browsers are two of them that allow users to select more valuable data for NFT issuance. 15Users may found it unfamiliar at the first time, we will provide guidance tools to help them. These date assets can be issued in a way of compatible ERC721 bases on Plasma Network, or we can split and trade NFT assets based on ERC720.Different kinds of transactions can be applied to various scenes.
For example, we can select data for a certain period of time, issue corresponding NFTs after automated data desensitization, and pledge these NFTs to big data or AI companies to share the profits and offer data model training services for them. It’s the same logic with staking. The key is that filecoin data assets are traceable, and NFT programmability will become powerful and flexible. Data transactions will be autonomous and no one can interfere. In thousands of years before, medical date was in a feudal era and there was not democracy involved. NFT will make the first step. Human intervention is horrible, as long as we handover our job to machines and make automated transactions ,trust and cooperation will be enhanced.
Gas cost for data storage is not our concerns , and we can reply the system with rewards and help the transaction system to improve rapidly. We’ll encourage large amount of miners to join us at the early stage. 16Transactions generates value. How to achieve Pareto optimality ? Only decentralized ,peer to peer transactions can achieve this mission. Through sufficient market competition, the market for medical data NFT will grow bigger, we can even combine it with virtual games. As long as we use our imagination, there will be various application scenarios for NFT. Doctors personal influence can be turned to NFT assets too if they have reputation and pledge value.
NFT issuance attached practical value to it and will drive fan economy for freelance works, this also goes for artists. Except that being traceable and verifiable are more important here. The value in it is obvious, because most assets are on chain in SINSO system. Transactions are only helpful on encouraging participants to find suitable NFT niche market , they can also promote formatting and updating of data.
SINSO donors network is the most distinctive part of the entire SINSO ecosystem. We always believe that by providing a trading environment, doctors and patients will work well together , also it will reduce medical costs greatly. Cost will be reduced because large scale overall training of AI data will pay back for human health. We’ll get systemic profit from it. In the next 10 years , medical artificial intelligence will replace 80% of human labor force, AI can do good enough.
