Initial Coin Offering (ICO): Medicalchain
Another interesting ICO that I have found in the medical field.
Medicalchain is designed to help with one of the biggest issues we deal with on a daily basis...the lack of a unified medical record. It is really a huge pain when we get a patient who had X, Y, and Z done at a hospital, even a few miles away, and unless they are stellar medical historians, which they almost never are, it takes hours to days to get the records. God forbid you are trying to get them over a 3 day weekend...you're screwed. And let me tell you how much it sucks to have the patient tell you they had minor procedure A when they really had major freaking procedure B and your whole game plan changes when you find out. Or, when you need to repeat a CT scan that was just done because the patient doesn't have their CD :/ huge waste of money.
They intend to do this by building, from the ground up, a movement of subscribers who will utilize their Medicalchain currency to keep the information securely on the blockchain. They will also provide for a platform where subscribers can utilize a telemedicine platform to communicate directly with physicians. The information is secure and they will even allow you to tailor the amount of access various physicians and outside parties have.
This sounds pretty standard and worthwhile in and of itself. I think it's a great idea especially for older or particularly complicated patients who will have a hard time giving a personal medical record if they end up in a new medical system. Obviously this is all out the window if you are incapacitated, where it would come in handy for everyone. It also comes with wearable technology, like a high tech medical alert bracelet with a whole lot better info, like next of kin and prior surgeries. This is particularly important in the value based medical world we live in today where having the whole picture can streamline diagnosis and treatment.
One thing I find particularly interesting is the ability to license their medical records, again at various levels of depth, to companies conducting medical research. It will also allow for direct connection to patients by pharmaceutical companies who are conducting tests that they may qualify for. These both are a way to earn some income in the form of MedTokens on the system.
The team looks to be pretty solid with several experienced leaders and some practical support from physicians and medical IT professionals. I do wish it was easier to get this info directly from the website without having to utilize linked in.
The progress thus far seems to be good. They began by implementing a system for disseminating discharge summaries in the Leeds system UK which catapulted them into this venture. They are gradually launching in more places and a Beta launch is set for next month. Sights are set on the rest of Europe and next Asia. They have also been well received at a recent meeting with medical officials.
Potential pitfalls that I see at this time is the widespread adoption of the platform. They are taking an interesting approach by building a user base rather than going after healthcare systems. If they are successful, the systems will have almost no choice but to use their technology to keep up with the flow of medical information. Another issue is how many EMRs exist in the world and getting them hooked into the Medicalchain platform will be an undertaking. They want to have the files migrated over to their platform via copying and mining but hopefully they can get a more streamlined approach that directly interfaces with EMRs. This is a problem facing all of these ICOs in this field.
Getting tokens is not possible for those of us in the US :( But for those who are lucky enough to have that opportunity.
This is timely because contributions start Feb 1st.
1 token is worth $0.25 of ETH.
35% of the tokens will be offered with the pre and crowd sales.
total 500,000,000 tokens.Overall, I think the idea is a good one and they approach the problem in an interesting way. I particularly like the ability for patients to essentially rent some of their medical information that will both result in some level of compensation and help further scientific knowledge at the same time. Will it work? I don't know but they seem to have a good and novel plan and I with them the best of luck.
I'm not a financial planner by any stretch of the imagination, so take this for what it's worth :)
I'm also not getting any funds from Medicalchain for this information, nor do I hold a position in Medicalchain at this time.
Please let me know if there is anything I can do to improve these posts or if there are other health related topics you would like some info on. Thank you!
Past posts:
https://steemit.com/ico/@cbk/initial-coin-offering-ico-rentberry
https://steemit.com/ico/@cbk/initial-coin-offering-ico-well