In the cryptocurrency market, tokens linked to a product or service are increasingly gaining ground. The MediChain company leads the trend.
Despite the volatility of the cryptocurrency market, the attention paid to so-called “utility” tokens (linked to a product or service) is increasing. like those of the MediChain Medical Big Data Platform.
Utility tokens have an intrinsic value: they are tied to a useful and highly requested service. Access to the service is subject to the use of the token on a blockchain-based platform.
Through its platform, MediChain plans to renew the areas of electronic medical records (EHR and EMR). In the process, it will enable patients to take control of their data, help health professionals improve the quality of service and reduce mistakes, improve the security of EHR and EMR data and facilitate the discovery of treatments for diseases.
In addition to the social factor, the platform has the potential to generate significant revenue streams. According to a recent survey conducted in seven countries, commissioned by the consulting firm Accenture as part of the 2018 Consumer Survey on Digital Health, consumers are increasingly ready to share personal data with healthcare professionals and insurance companies, as well as to use customized options that allow them to monitor their health.
By creating a Cloud compliant with MediChain’s blockchain, patients can save their medical records and decide what to share with health professionals and clinicians both locally and globally. Furthermore, the data is rendered anonymous on the platform, and the most sensitive information is stored outside the chain.
These build a huge amount of data for a number of different players, as explained by Dr. Mark Baker, CEO of MediChain: “We know that our exceptional and unique data are interesting for pharmaceutical companies, for example, when they are looking for or testing new products. Of course, insurances are eager to learn about medical trends in the future. And there’s a growing market for mobile health care apps. So in our target there are also software developers and producers of various gadgets and health devices “.
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Access to the platform requires the use of MediChain Utility Tokens (MCUs), which represent the value of arbitrary patient data blocks. Each piece of medical data is assigned an arbitrary value in MCU equivalent to the price of a patient consultation in US dollars. Tokens are currently being sold through the company ICO.
Dr. Baker also has other good news for potential token holders: “In addition to the expected revenue streams, we have already partnered with the Swisher Memorial Healthcare System in Texas and have also gathered interest from numerous companies and other institutions, from the Cerner ello Swiss technology solutions SOS, to the CSIRO Australian scientific research agency “.
The MediChain ICO started on March 1, 2018 and will end on April 30, 2018.