ICO craze heats up
Medicalchain, a decentralized blockchain platform that enables the secure, fast and transparent exchange of medical records by patients and doctors, announced today 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Medicalchain addresses issues facing healthcare systems all over the world which are suffering from burdened and outdated record-keeping, and oversubscribed GPs and healthcare professionals working within severe time constraints and without sufficient resources to hand.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.”