Whattup! Time for another quick review.
There are many projects competing in the healthcare space since the way patient data is saved and shared amongst different entities is all sorts of f****d up.
Requested by our community...today we will briefly go over Medicalchain.
Let’s dig in…
Low-Tier Shitcoin (should be higher in our opinion)
Wtf is this shit?
Medicalchain is a blockchain project aiming to securely store patient health records, unifying data to one updated source of truth. Imagine going to a new doctor and sharing your information simply by them scanning a QR code on your phone. This can be done with doctors, laboratories, health insurance companies, pharmacists...or really anyone that has software that can retrieve data from the Medicalchain network.
Medicalchain uses multiple blockchains as part of their overall system. They use Hyperledger Fabric - which you should look up...cool open source project pushing the use of blockchain applications. It’s a blockchain application framework.
As far as the patient is concerned, it is using Fabric where medical records will be stored and shared. Hyperledge Fabric is a flexible, permissioned blockchain/database so users will need to have accounts and such...not quite as open as say Bitcoin’s blockchain.
Next...they use Ethereum which primarily manages the ERC-20 they ICO’d with and can also store some user data. And lastly, they are partnering with Civic, basically using them as a way to verify identities of users who onboard to their platform and ensure to practitioners that users on their platform are validated.
Simply put - they are using blockchain technology as a mechanism for storing and sharing patient medical data. The use-case is clearcut, but still in its infancy and not many healthcare establishments have begun adopting this new technology - additionally, we are not sure how much patient data is uploaded to the blockchain.
It’s a tough bear market right now, so it is hard for them to see high numbers on CoinMarketCap, but we wish them luck. They raised ~$24M during their ICO. Oh, they also have one of the more impressive whitepapers we have seen (and we read A LOT of them).
Who tf is behind this shit?
Dr Abdullah Albeyatti is their CEO who graduated from Imperial College London in 2011 with his doctorate. His medical passion seems to be around ENT (ear, nose, and throat). Mo Tayeb is their COO with an MBA from Oxford (fancy).
All in all, low-tier shitcoin due to market metrics, but they seem to be honest and we wish them luck.
Hope you learned some shit and be sure to follow us on Twitter!
- Mike and Aaron