MedicalChain ICOreview @WhatICOChannel
@whaticochannelMedicalChain
1 MedToken = 0.25 USD
Platform Ethereum
Accepting BTC, ETH
Country UK
Start Feb. 1st, 2018
Team: 14 members + 8 advisors
Web: medicalchain.com
Telegram group: https://t.me/medicalchain (about 50k members)
Twitter: @medical_chain
WhatICO Rating: ⭐️⭐️⭐️⭐️ (MVP in progress, Partnerships in progress)
Short overview:
Medicalchain is a decentralized platform that enables secure, fast and transparent exchange and usage of medical data. It uses blockchain technology to create a user-focused electronic health record and maintain a single true version of the user’s data.
Medicalchain will enable users to give conditional access to different healthcare agents such as doctors, hospitals, laboratories, pharmacists and insurers to interact as they see it.
Medicalchain is built using a dual blockchain structure. The rst blockchain controls access to health records and is built us- ing Hyperledger Fabric. The sec- ond blockchain is powered by an ERC20 token on Ethereum and underlies all the applications and services for our platform.
Identity management using Civic
Users could allow health insurers access to their health records. In turn, insurers could rest assured that the information they are making decisions upon is trusted, veri able and patients could be rewarded for their transparency in the form of lower premiums. Moreover, patients could pledge to a set of health goals with their
Patient grants access of personal health data to insurance companies in return for incentivisation with MedTokens
insurer and be rewarded as they hit milestones associated with those goals.
Token Distribution
Medicalchain’s ICO will be a capped sale raising $24 million (24,000,000) equivalent of ETH and/or BTC with whitelisted contribution caps. Medicalchain will be issuing 500 million (500,000,000) ERC20 tokens, called MedTokens, to create a new blockchain based healthcare ecosystem.
These tokens will be offered in a crowdsale to allow participants to purchase MedTokens early as well as contribute and support the further development of Medicalchain. Starting on February 1st 2018, participants will have the ability to contribute and receive MedTokens in exchange for their ETH by sending Ether to a designated address.
During the ICO MedTokens will be distributed at an exchange rate of 1 token = $0.25 equivalent in ETH and/or BTC and offered before this date at a discount in a pre-sale.
500 million tokens issued
Of these 500 million tokens...
• 35% will be offered in the pre-sale and crowdsale
• 34% will be retained by the company, team, advisors, founders and future employees. Within this 34%...
• 10% will have already vested.
• 12% vests over 2 years.
• 12% over 4 years.
• Founders: 15%
• Company development: 8%
• Team, advisors, early backers: 11%
• 31% will be retained for community development. Medicalchain will use these tokens to help grow an ecosystem on it’s blockchain by educating others, supporting node holders, bringing partners onto its platform, conducting pilots, and sponsoring in- dustry leading events. This will vest over 4 years.
Current Developments
The proof of concept is in its nal phase and the development is now focused on design and UX/UI experience. The core of the application, Medicalchain’s secure API and blockchain, is ready for the release of the Beta. The nodes setup and operated during the Beta are run by Medicalchain, but over time Medicalchain will include other nodes onto it’s network. Several of these conversations are underway already with hospitals, universities and non-profit organizations.
Milestowns:
- Feb 2016: Conceptualization of ideas. Development started.
- Dec 2016: Cardiology department identified as good starting point to cultivate idea.
- April 2017: Discharge Summary website launched
- May 2017: DS launched with Leeds Teaching Hospital trust
- June 2017: First release of Medicalchain prototype.
- September 2017: Medichalchain joins Hyperledger and Linux Foundation. DS launched with Queen Elizabeth Hospital
- October 2017: DS launched with University Hospital Lewisham. Medichalchain showcased at FT Digital Health Summit NYC
- November/December 2017: Medichalchain is nominated top 10 in Europe for Accenture healthtech Challenge
- January 2018: DS launched with Princess Royal hospital
- February 2018: Closed beta platform launch
- March 2018: Doctor and patient enrollment for Telemedicine application. Medicalchain set to present at European Parliament
- April 2018: Medicalchain establishing links with world class universities
- July 2018: Medicalchain Emergency bracelet introduced into the pilot
- September 2018: US and UK pilot completed and collected data and feedack analysed with improvements made to the platform
- October 2018: Pilot to be launched in China, Japan and South Korea
- November 2018: Wearable devices integrated nov into the Medicalchain platform
- February 2019: China, Japan and South Korea Medicalchain pilots all completed and platform ready for worldwide launch
- March 2018: Phased roll out of fully functioning Medicalchain platform
Founder and CEO: Abdullah Albeyatti MBBS BSc MRCS (ENT)
Imperial College London
Experience: (mainly at NHS https://www.nhs.uk/):
- GPST Trainee
- Leeds Teaching Hospitals NHS Trust
- feb. 2016 – till now
This review made by:
@whaticochannel https://t.me/whaticochannel
Please discuss in our Telegram chat here: https://t.me/joinchat/AAXZhQ0ojFChHFgzVd2XvA
