Medicalchain has announced the listing of its ‘MedTokens’ on five major exchanges – Huobi Pro, Kucoin, Gate.io, Coinbene and QRYPTOS – following the successful completion of its token sale on 1st February 2018.
Medicalchain was founded to improve the way in which patients’ medical data is collected, collated, shared and secured within the current healthcare system. At present, record keeping within healthcare is flawed; patients’ information is spread over multiple systems, hospitals, networks and physicians, with siloed communication taking place between all parties. This fragmented record keeping has led to security lapses in patients’ data protection (as demonstrated by the 2017 NHS WannaCry malware attack), unnecessary risks for patient care including incorrect decision making and delays, and needless costs for the patient or healthcare institution.
Medicalchain addresses issues facing healthcare systems all over the world which are suffering from burdened and outdated record-keeping, and oversubscribed GPs and healthcare professionals working within severe time constraints and without sufficient resources to hand. These situations result in routine appointments such as referrals, second opinions, education, follow-up care, monitoring, and diagnosis being incredibly cumbersome and costly for patients to organise.
Dr Abdullah Albeyatti, Co-Founder and CEO of Medicalchain, commented: “Medicalchain is focused on addressing the issue of a fragmented healthcare system. By creating an immutable, healthcare record that is incorruptible, trusted and cannot be deleted or tampered with – by patients or clinicians alike – we’re empowering patients to be at the centre of their care and enabling clinicians to make informed decision-making, as well as communicate to each other with ease.”
One of the most highly anticipated ICOs of Q1 2018, it had received over 135,000 registrations prior to launch. MedTokens went on sale at 10:00hrs on 1st February 2018 and within two minutes of launching the sale Medicalchain received 45,000 KYC (Know Your Customer) registrations. The sale completed, achieving the target pre-sale and ICO hardcap of $24,000,000 USD. The speed with which it completed was a testament to the belief in Medicalchain’s platform among the committed community that Medicalchain has built over the past year.
Commenting on the ICO, Mo Tayeb, Co-Founder and COO of Medicalchain, said: “We are really excited to have brought the ICO to a close and listed on these exchanges today. Blockchain is changing the way we approach virtually every industry and the security and transparency it offers makes it perfect for health data. In the coming months, we will be developing our Medicalchain platform and rolling out some exciting applications which will give millions of people access to better healthcare.”
The company is already working with healthcare professionals in several countries on projects to pilot the new healthcare records system. Following the launch of its product, Medicalchain plans to roll out two platform applications:
- A Telemedicine app which will connect doctors and patients around the world via video. Patients will be able to, for the first time, share their records with doctors online whilst having a remote consultation. This leads to a more complete consultation for both patient and doctor, who is safe in the knowledge that they’ll have access to the patients’ full medical history, allowing them to perform more complex diagnoses remotely than ever before.
- A Health Data Marketplace which will allow patients to monetise their healthcare records and agree to share their records with research companies by granting them access to the records. The process would be completely anonymous to protect patients’ privacy.
Transactions over the Medicalchain platform will be completed using MedTokens.
