MediBloc (MED) is a decentralized blockchain-based protocol originating from South Korea, designed for the healthcare sector. It allows medical facilities to transfer, gather, store, and manage data securely. With MediBloc, doctors have access to crucial patient details such as medical history, prescribed medications, insurance information, and more. This system enhances the accessibility of medical data, enabling stakeholders to track and document medical conditions, appointments, treatments, and examinations seamlessly.
The MediBloc ecosystem consists of three main components: MediBloc Core, which is responsible for data storage and additional capacity; MediBloc Application, which facilitates data access and management through various apps; and MediBloc Service, which employs smart contract technology to link the other layers and manage data input and output.
There are three account types on the platform: general users (patients), healthcare providers (such as doctors and medical institutions), and data scientists. The latter two must provide proof of accreditation. The project aims to elevate medical services and infrastructure by optimizing information storage and empowering users with control over their personal data. MediBloc adheres to the HIPAA Security Rule, part of the Health Insurance Portability and Accountability Act.
Who Are the Founders of MediBloc (MED)?
Founded in 2017, MediBloc was developed by a group of skilled doctors, alongside seasoned entrepreneurs and adept developers. The co-founders, Dr. Allen Wookyun Kho and Dr. Eunsol Lee, are healthcare experts with notable accomplishments in both medicine and software engineering.
Dr. Allen Wookyun Kho earned a Bachelor of Science from the Korea Advanced Institute of Science and Technology, a Master in Computer Science from Columbia University in New York, and a Master of Dentistry from the Department of Dentistry at Kyung Hee University. He previously served as a lead software engineer at Samsung Electronics, where he played a significant role in the development of Galaxy S software.
Dr. Eunsol Lee holds a Bachelor of Medicine from Hanyang University's College of Medicine and a Master of Medicine from the University of Ulsan's College of Medicine. With expertise in radiology and biomedical informatics, Lee's impressive resume includes positions such as a developer at NEXON, a radiology specialist at Asan Medical Center, and a public health doctor. He also served on the Presidential Committee on the Fourth Industrial Revolution (PCFIR) and represented the Special Committee on Digital Healthcare under the PCFIR.
What Makes MediBloc (MED) Unique?
MediBloc strives to establish a health data platform that centers on the patient, empowering data usage and promoting a healthy lifestyle. The project aims to transform the healthcare industry by becoming a centralized real-time database for patients. This decentralized platform connects patients, healthcare providers, and medical researchers, with patients retaining ownership of their health data, records, treatment history, and more.
To prevent data loss, backups are implemented, and only trusted medical organizations and reliable healthcare partners are permitted to make changes. The blockchain framework ensures enhanced network security, reducing risks like fraud and data breaches.
According to the protocol, this approach is intended to reduce redundant data, streamline treatments, improve medical care efficiency, and enhance diagnostic accuracy. An objective incentive system rewards all contributors (data owners) with MED tokens.
How Many MediBloc (MED) Coins Are There in Circulation?
MED serves as the native utility token on the MediBloc platform. It is necessary for making storage and insurance payments, as well as conducting transactions. Users contributing to the growth of the MediBloc ecosystem receive rewards in the form of MED tokens.
Regarding tokenomics, the distribution is allocated as follows: 50% to ICO participants, 20% to the team, 12% for development, 10% to investors and advisors, and 8% for research endeavors.
How Is the MediBloc Network (MED) Secured?
Introduced in December 2017, MED initially operated within the Ethereum ecosystem as a decentralized application (dApp) on the Ethereum Virtual Machine (EVM). In 2018, the project transitioned to the Qtum blockchain and later migrated to Cosmos using the Cosmos Software Development Kit (SDK). By 2019, MediBloc announced the creation and launch of its own mainnet.
The platform relies on the Delegated Proof-of-Stake (DPoS) consensus mechanism, which is an advancement over the traditional Proof-Of-Stake (PoS) system. DPoS is noted for its energy efficiency, ensuring network security through the validation of delegates via an approval voting process.
Where Can You Buy MediBloc (MED)?
You can purchase MediBloc (MED) on various crypto exchanges, including Bithumb, Bittrex, Gate.io, Osmosis, Upbit, Korbit, and others.
Interested in tracking MED's performance in real-time? Consider downloading the CMC mobile app.
