The MedicalDAO aims to leverage doctors’ collective intelligence to improve the global accuracy and quality of diagnoses.
The Medical DAO is a blockchain organization which seeks to leverage doctors’ collective intelligence, because 250,000 Americans die each year due to preventable medical mistakes. Medical errors rank behind only heart disease and cancer which each take about 600,000 lives.
US $1T per year is the cost of diagnosis mistakes in the US. The Medical DAO addresses those 4 sources of diagnosis mistakes:
- Wrong or late clinical diagnosis
- Misinterpretation of tests
- Lack of diagnostic follow-up
- Sub-optimal therapy option chosen for the patient.
The Medical DAO is a blockchain application enabling doctors to share knowledge and brings the right diagnostic at the right time to patients. By leveraging a worldwide network of healthcare’s stakeholders, the gathered data of healthcare’s actors can create an infrastructure for tech innovation.
The application is designed in a similar way as a social network. Doctors can organize into decentralized groups (DAOs). Each group is focused to solve or answer to one specific medical issue. When a doctor starts a group he can decide to add co-founders. Those people will share the ownership of the group and will promote it to attract doctors and patient.
Doctors who start the group also have to set up an entry form to ask patients the information the DAO needs. Then he selects the list of diagnostic the DAO can provide.
Patients will look at all different group depending on their needs. If a patient needs a general advice he will go to the generalist doctor group. Each group has a tag for patients.
To ask a medical diagnostic, patients have to submit something we call a “consultation request” (C.R). The C.R is sent to a specific doctors’ group.
For doctors, a C.R. looks like a post on Facebook: there is the description of the problem, the patient who sends it, and the DAO the patient asks. The doctor can comment on the C.R and start a discussion or share it with other doctors.
Then for each C.R the prediction market system suggest 3 different diagnosis and doctors vote on whether or not they think it’s right, probable, or wrong.
If his answer is aligned with the DAO’s majority, this doctor gets rewarded with REP + token.
Doctors have to register to other groups of doctors they are interested to work with to have access to all C.R available in those groups.
Token economy and Market opportunity (M.O):
The market opportunity is similar to the gas cost in the Ethereum protocol. In the Medical DAO gas represents the cost for one doctor vote. The Patient decides a maximum cost per consultation request + the gas cost he is willing to pay. So the economic forecast will be if the M.O is too low no doctors will answer and a gas market will be created depending on the number of patients willing to pay a number of gas per vote and the number of doctors willing to spend time to vote.
Here’s an example of a DAO:
Fixed gas cost patient is willing to pay for a vote: 10 gas
Total price for the C.R.: 50 MDAO token
Time the patient wants to leave his C.R open after boosting: 3 days (He can also choose as soon as out of gas) If the patient wants a numbers of days, the gas available will be dispatch a bit each days.
In the market we have the following order book of gas/vote :
DOCTORS -------------------- PATIENTS
|Qt answer||gas / Vote||Gas / Vote||Qt = (Qt of C.R* totalPrice)/(gas/vote)|
|2 000||50 000||40 000||1000|
|4 000||60 000||30 000||1500|
|15 000||70 000||20 000||2000|
|10 000||80 000||15 000||5000|
|500 000||90 000||10 000||10000|
1 gas = 0,0000001 MDAO
If this patient fix the gas/vote at the market price he will pay 50000 gas/vote and for 50 MDAO he will receive 40/0,0000001*50000 = 8000 different doctors vote
If there is not enough doctors to vote, unused gas will be returned to the patient’s wallet.
For more information, pelase visit MedicalDAO’s website at http://medicaldao.io/.