MediBloc (MED) – Cryptocurrency Overview
MediBloc is an ecosystem designed to solve the problem of storing and using patient information in the medical industry. The project uses blockchain, which means that the era of using conventional medical records may become a thing of the past very soon. According to the developers, it is much more reliable to store this information on the blockchain. Patients, doctors and researchers should get a lot of advantages thanks to this technology.
Problems and solution
The existing organization of work with information in the medical industry is far from ideal. Crypto developers highlight a number of problems that their project should solve.
- Problem number 1. Often information is stored on ordinary paper cards, which leads to its inefficient use. In addition, there is no guarantee that the data in the card will be updated in a timely manner. Access to it is limited.
- Problem number 2. The consequence of the first problem is that the doctor can diagnose and begin treatment without a complete analysis of the medical history. He may not have access to it, as an option – previous medical facilities may not have entered information about the treatment on the card. The refusal of paper cards allows you to partially cope with this problem, but still there is no single network in which the doctor could study the patient’s medical history in a couple of seconds.
- Problem number 3. Data safety. The storage of information in the form of paper cards and the centralized storage of electronic archives does not guarantee safety. Any force majeure may cause the loss of data; it may not be possible to restore it later.
- Problem number 4. Ease of working with information. Many hospitals still prefer the classic file cabinet, which stores paper records of patients. As a result, a person is forced to receive a card at the registry before a visit to the doctor, which takes extra time.
All these platforms are solved through the use of blockchain.
- The solution to problem number 1. Using the blockchain ensures that information is updated in a timely manner. Both the patient and the attending physician will have access to it without problems.
- The solution to the problem №2. Blockchain erases the boundaries between individual medical facilities. If it is connected to the MediBloc network, the attending physician will have access to the necessary information about his patient without any restrictions. At the same time, anyone can’t access the account, this issue is agreed and regulated by smart contracts.
- The solution to the problem №3. Due to the fact that the information is stored in a decentralized manner, it is impossible to destroy it. Part of the network may fail, but this will not affect the safety of data in any way.
- The solution to the problem №4. If the hospital will be connected to MediBloc, then to get the necessary information you just need access to the Internet. Even through a mobile phone, the doctor can get comprehensive information about the patient.
MediBloc is divided into 3 structural levels:
⦁ MediBloc Core – this level provides information storage;
⦁ MediBloc Application – at this level information management is provided (in particular, different levels of access to accounts are provided) through various applications;
⦁ MediBloc Service – through smart contracts, the interaction of the two previous layers is provided.
You can learn more about the technical features of cryptocurrency from the White Paper.
MED Token Cost
MediBloc entered the cryptocurrency exchange at the end of 2017. At the time of preparing the review with a capitalization of $ 78.619 million, the coin ranks 150th in the cryptocurrency rating on coinmarketcap.com. For 1 token MED give $ 0.026503.
Over the elapsed time since listing, the rate managed to grow 6-7 times compared to the starting price, but then the cryptocurrency cost began to decline. At the moment, the course is at about the same level as at the time of adding to the crypto-exchanges.
The total number of MED tokens is 10 billion, at the moment in circulation a little less than half, the rest are frozen and will be put into circulation later. Inside the platform, in addition to MED, MP (Medi Point) will also be used. MPs, unlike MED, will not go outside the platform and are intended solely for settlements between MediBloc users.
The idea itself is not new, from competitors we can mention HealtHeart, MedRec, Medicalchain. All these projects are also focused on the work of the medical industry and are also focused on working with information. But MediBloc has a significant difference – for example, in this platform it will be possible to receive statistics on certain types of diseases, to advertise.
The developers of MediBloc should pay tribute – although their project does not use a new idea, it looks preferable in comparison with competitors. As for the crypto course, so far this behavior can be explained by the fact that the platform has not yet been launched even in the beta version.
As for the viability of investments, it is possible to invest in MediBloc, but with a limited amount. The team is quite young and does not have experience in launching large projects, so it will not hurt to play safe.