With the MediBloc Coin, also known as MED for short, the blockchain technology is to find its way into the healthcare system. With the help of the blockchain, patient data can be stored decentrally and called up quickly.
The MED Coin should create incentives to use the network. But what about the forecast if bureaucratic hurdles stand in the way?
MediBloc Coin – What is this crypto currency?
MediBloc is an open-source platform that uses blockchain technology to build a decentralized network for the healthcare industry. The MED development is based on the blockchain from Ethereum, so the crypto currency is an ERC20 token. The MED crypto currency can be used within the network to pay for services or purchases. For example, when purchasing pharmaceutical products or paying insurance companies that are part of the network.
MED coins can also be earned by feeding data into the blockchain. This gives you “Medi Points”. The point system measures the activities of the users and allocates points based on this. These points are tokens and are also used to verify processes within the network. However, these tokens do not leave the MED network and cannot be stored in the Medi Bloc Wallet. Instead, they can be converted to MED coins by storing them for at least three months. The conversion rate changes depending on the amount of MED coins and other factors present. At the same time you can buy MediBloc to convert it into points.
The focus of the development is on the blockchain. This should make it possible to store patient data decentrally and make it available. The problem with patient data is that it is usually stored centrally in hospitals and practices. This can make it cumbersome for physicians to obtain the required data from patients and in the worst case can lead to serious mistakes if the treating physician does not have the complete medical history available.
With the decentralized blockchain, the data is available anywhere in the world. At the same time, the patient should have full control over his or her own data; the patient decides who can view his or her medical history. With MED the blockchain, data security is virtually guaranteed. Unauthorized changes to patient data can be viewed transparently on the blockchain, as all changes are reliably stored here. The loss of data is also almost impossible thanks to the blockchain.
The MED network consists of three layers: Medi Bloc Core is the database that stores the data of the patients. By using an encryption protocol, only the patient should be able to access the medical history, as he has the private key to do so. Medi Bloc Service uses Smart Contracts to connect the Medi Bloc Core with the other layer, which provides decentralized applications. Medi Bloc Application is this layer. It makes it possible for the user to use programs that give him access to the MED network.
MediBloc Coin – Who is behind the crypto currency?
The MediBloc development takes place mainly in Seoul, South Korea. The majority of the team comes from South Korea. Founder Dr. Allen Wookyun Kho is responsible for business development. He studied dentistry and computer science, worked at Samsung Electronics and as a dentist. Co-founder Dr. Eunsol Lee is a software developer and physician, certified in the field of biomedical informatics. In MED development he works as a system architect. In addition, a team of software developers and consultants has been formed.
The MED crypto currency depends on partnerships. The first test runs of the MediBloc platform will soon be carried out at Kyung Hee University Dental Hospital.