MONET BLOCKCHAIN PROJECT- A QUICK INSIGHT

Updated: Apr 8, 2019





Technically, what I am writing here is called Project Scope, however I try to avoid technical jargon as I aim to reach, wider audience. Since community building is extremely important for the project, therefore by writing on this platform, I aim to reach people who are willing to join the project in any capacity. An advise, recommendation, suggestions, criticism- all are appreciated.


MONET Blockchain Project aims to develop an ethereum-based platform that connects healthcare practitioners and patients seeking 2nd opinion on their primary medical diagnosis, across the globe. This platform comprises of 3 pillars. First is MONET DApp (decentralised application), then it is the MONET Intelligence and third is MONET Bank and exchange. The platform will be fuelled by MONET (Token symbol ORB) (our ERC20 & ERC-1400 tokens).


But first, is this project even needed?



Research shows that:


75% of the UK population go online for health information. More than 50% of the UK population use the internet to self-diagnose. 12 million people are misdiagnosed every year in the US. Unfortunately, an accurate or even reliable figure of misdiagnosis across the globe isn’t available in the public domain.


A common understanding of many patients is that mis-diagnosis or undiagnosed symptoms of medical condition are normal incidents. Sadly yet truly, patients don’t realise that it is the ethical and legal responsibility of healthcare systems to address worsening medical conditions or medical costs, resulting from delayed or incorrect diagnosis and follow-up treatments.


Unfortunately, many mistakes are made by healthcare systems such as negligence, misjudgements (e.g. faulty laboratory results), work-environment pressure and reduced availability of resources in Emergencies and Recovery (ER), misdiagnosis and failure to diagnose.


Result of misdiagnosis results in failure to recognise complications that transform or aggravate existing medical condition. At times, one condition may be diagnosed correctly whereas other condition remains undiagnosed. In other cases, healthcare systems fail to realise that second diagnosis also need to be made.


Project Objectives


First, build an ethereum-based blockchain platform that connects healthcare practitioners and patients seeking 2nd opinion on their primary medical diagnosis, across the globe. This platform can be accessed through a Dapp and web, both.


MONET Blockchain Project offers solution to a real-world problem. The problem, as discussed earlier is that patients seeking 2nd opinion on their primary diagnostics have no access to medical specialists/consultants’ opinions that are prompt and cost effective. Promptness and effectiveness or affordability one may say, is the missing link in this equation. And it's just not ‘any’ missing link, we are talking about millions of precious lives lost across the world, specifically in the under developed countries due to this missing link.


The research carried out further draws attention towards challenges faced by healthcare sector (a. continuation of funding tax-based healthcare systems; b.insurance-backed high healthcare fee leaves little to no room for seeking 2nd opinion on initial diagnostics; c. lack of patients’ awareness of outcomes of healthcare systems’ negligence etc.).


The solution we are offering indicates an urgent need to increase healthcare providers/systems efficiency in a prompt, cost-effective and transparent manner.


This is where blockchain technology steps in, with huge potential and promises. This disruptive technology will enable efficient sharing and exchange of information with stakeholders (patient, healthcare practitioners, investors, and wider community) while ensuring data integrity and protecting patient privacy. This platform will also represent an effective solution to the healthcare industry as it will reduce cost of operations, and interoperability challenges currently plaguing the implementation of mHealth and eHealth initiatives, globally.


Implementing a blockchain based token can incentivise the industry in solving the majority of the existing and future constraints. The token, MONET (ORB) is a pre-mined token, that will eliminate intermediaries ensuring that prompt payments are sent and received thus ensuring time, that can play a make or break role in saving a precious life, isn’t wasted.


Feedback is highly appreciated.


Thanks for reading.


Any comment, feedback, improvement suggestions are appreciated. Thanks for reading. If you enjoyed reading this post, please ♥️ & share.. the more, the merrier!




About the Author


I am an entrepreneur, researcher, analyst, crypto-enthusiast & believer. I am also one of the founding members of monetorb.com — a blockchain platform (under-development) connecting patients seeking 2nd opinion on their primary diagnostics with consultative healthcare, across the globe. Like me content? 🙂Follow me on Twitter & Telegram.


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