MCMIA Forum
A Blockchain Platform for Chinese Medicine

  Albert Bak-wei WONG,  MCMIA

  Vivian Chi Woon TAAM WONG,  MCMIA

  Pang Chui SHAW,  CUHK

  Mavis Hong Yu YIK,  CUHK

Short URL: https://mcmia.org/rOFYy

2021-01-21

The CM blockchain will be audited regularly to ensure conformity to the financial, operational and ethical directions in the Articles of Association of the CM blockchain. As a self-sustaining operation, the CM blockchain charges registration fees and product admission fees to all the nodes and service charges for the monetary transactions on the platform. It accepts donations from supporters sharing its vision. Once the preset amount of the platform’s sinking-fund is reached, the fees charged by the platform should be based on the annual budget need to ensure its effective operations. The platform should be free of any speculative activities as it does not provide incentives for participations in transactions, hence no bitcoin or any form of digital currency will be issued.

Conclusion

The introduction of medical / pharmaceutical blockchains in the 21st century serves to thwart repeated fraudulence and deceptions through the exercise of its immutability within a highly vigilant environment. Hopefully, this feature is sufficient to reinforce ethical standards in healthcare and to affirm consumers’ confidence in the system. If nothing else, the modern day ‘snake-oil’ pushers will now be forced to explain why they refrain from joining the adroitly run blockchains.

* Originally published in :  GP-TCM RA Newsletter. [2021-01-21]