Medical Devices On The Blockchain – MedXchange.io
THE MEDXCHANGE PLATFORM
MedXchange is a blockchain-based system to democratize the global medical device industry. The platform will disintermediate the medical device and supplies ecosystem and make it more efficient. MedXchange comprises a platform to facilitate and secure the global exchange of medical devices, supplies and payments, lowering ultimate patient/customer or insurance cost and increasing efficiency.
While the system will initially be focused on the medical device industry, it will be sufficiently flexible and scalable to add other categories of regulated health care ecosystems, such as pharmaceuticals, laboratory equipment, and services. Our platform is backed by proprietary, innovative use cases and real world businesses, in addition to our own proprietary cryptomining operations. Transactions on the system will be supported by MedCash (MEDCASH), an Etherium based (ERC-2 token used by users on the MedXchange platform as the exclusive cryptocurrency to conduct transactions, both in-country and globally.
The medical device industry is under major financial distress, in the United States but also globally. Many countries around the world are facing the same intensifying costs of medical devices and supplies and health care in general, as the United States and other countries are trying to address costs by reducing reimbursement rates, establishing price caps, requiring mandatory price reductions, using diagnostic related groups (DRGs), and limiting funds available for medical device purchases. With steeply increasing medical device costs, a secure solution for transparency and cost savings can have a massive impact on society.
MedXchange seeks to facilitate and secure the global exchange of medical devices, supplies and payments. The system will democratize the $340 Billion global medical device industry (growing to $435 Billion in 202 by disintermediating the medical device and supplies ecosystem and making it more efficient, lowering ultimate patient/user or insurance cost in the process.
Because of the sensitive nature and requirements of medical devices, existing blockchain distributed systems are not adequate. The goal of MedXchange is to create a blockchain system that can pass the stringent requirements of regulated medical devices by ensuring better data integrity and encryption, and by providing a validation system to ensure the miners running this network are compliant entities.
MedXchange is a dual system platform utilizing a Blockchain protocol for transactions, identity and smart contracts, and with a distributed hash table (DHT) for data storage, managed by a governance system. The Blockchain protocol will be based off of the Ethereum network, and will start with proof of stake (i.e., Casper) and govern the data storage sites.
Most importantly, the system is backed by existing assets and use cases, including a novel, lifesaving medical technology that targets a population in excess of 835 million patients worldwide representing potentially in excess of 10 Billion transactions annually; a pipeline of additional, novel medical technologies and services companies targeted for acquisition also potentially representing billions of transactions annually; and our own proprietary cryptofarming operations in the works.
What makes MedXchange / MedCash Unique?
First, MedXchange is not being created in a vacuum. MedXchange has existing agreements Sell-side medical device manufacturers. The use cases flowing from these include two proprietary medical devices that represent a potential universe of millions of Buy-side Users (end users / consumers) globally, representing a potential opportunity for Billions of transactions/payments annually using MedCash (MEDCASH) over a 10-year period.
Second, the token burning process over the next 3 years will be supported by our own proprietary cryptomining operations. We plan to scale up our current cryptomining operations dramatically to produce daily revenues immediately. These revenues will support the token burning process while the MedXchange platform is being developed.
MedCash (MEDCASH) TM Initial Coin Offering (ICO) Summary
MedXchange is a blockchain-based system to democratize the USD 340 billion global medical device industry. The platform will: (i) disintermediate the medical device and supplies ecosystem and make it more efficient; (ii) facilitate and secure the global exchange of medical devices, supplies and payments; and (iii) lower patient/customer or insurance cost.
MedXchange is the first blockchain-based system for the global medical device industry. According to the U.S. Department of Commerce, the global medical device industry size was approximately $340 Billion in 2016, and will grow to $435 Billion in 2020. MedXchange will allow the suppliers (“Sell-side Users” on the MedXchange platform) of medical devices to directly and securely transact with patients and end customers (“Buy-side Users” on the MedXchange platform), reducing delivered medical supply costs globally and making much needed medical devices more affordable for patients and end users, while at the same time improving margins for beleaguered medical device manufacturers.
This will improve quality of life and save lives, while enhancing the long term viability and innovative vibrancy of medical device companies. Transactions on the MedXchange system will exclusively be facilitated by our MedCash (MEDCASH) token. MedCash (MEDCASH) will also be what funds the miners and data silos. The currency can also be used to activate smart contracts or trade for keys. Also, hospitals, clinics and GPOs (Group Purchasing Organizations) will be able to deploy their supplier contracts on MedXchange as self-executing smart contracts. The project is backed by preagreed use cases, including a novel, lifesaving technology that targets a multimillion patient / end user population globally, potentially representing billions of system transactions annually.
Other use cases are expected to board the system quickly. After the initial introduction to the medical device industry, MedXchange will be also marketed to other regulated health care ecosystems, such as pharmaceuticals, laboratory equipment, and services, as the platform will be developed to be scalable and flexible from the outset.
Starting date April 1st, 2018
Ending date The earlier to occur of: (1) Upon reaching hard cap; or May 31st, 2018
Whitepaper Links View Whitepaper
● ICO Details
KYC / AML: Yes
Presale Start Date: March 16th, 2018
Presale End Date: March 31st, 2018
Token Symbol: MEDCASH
Token Type: ERC-20
Token Distribution: 55%: Sold; 15%: Team (on vesting schedules); 10%: CoSponsor/Use case provider; 1% Pre-white paper supporters; 4% Consultants (on vesting schedules); 5%: Technical tokens for stabilization and partnerships; 5%: Bounties; 5%: Further Development / Liquidity Reserve. In addition, the percentage of tokens the team has will remain at 15% regardless of how many tokens are burned.
Initial Token Price .0005 ETH
Minimum Purchase .50 ETH
Hard Cap 110,000,000 (110 Million) MEDCASH tokens – Equivalent to 55,000 ETH
Soft Cap 20,000,000 (20 Million) MEDCASH tokens – Equivalent to 10,000 ETH
(a) During the Presale Start Date:
*During the first week of the Presale, 1.25 Tokens will be provided for each 0.0005 ETH transferred;
*During the second week of the Presale (i.e. the week just prior to the ICO Starting date), 1.20 Tokens will be provided for each 0.0005 ETH transferred;
*During the first week of the ICO – 1.15 Tokens will be provided for each 0.0005 ETH transferred;
(c) During the second week of the ICO – 1.10 Tokens will be provided;
(d) During the third week of the ICO – 1.05 Tokens will be provided;
(e) During the remainder of the ICO – 1.00 Token will be provided;
The Company will burn 50% of the MedCash (MEDCASH) tokens over the next 3 years and decrease the MedCash (MEDCASH) supply. Therefore the demand and value of the token will grow as an inverse proportion to the Token Burning process.
The MedXchange ecosystem will be powered by a cryptographic token called MedCash (MEDCASH), a tradable token representing the sole currency for transactions on the system and granting token holders exclusive access to the MedXchange ecosystem. The MEDCASH token is fully integrated in the MedXchange ecosystem and the transactions and participation in all components of the ecosystem will be done exclusively with MEDCASH tokens. Therefore the demand and value of the token will grow in direct proportion to the number of active users and the number and dollar volume of transactions on the MedXchange platform.
Upon reaching our Hard Cap of 110 million MEDCASH (110,000 ETH), the first distributions of tokens will commence to ERC-20 compatible wallets within 72 hours after reaching the hard cap (but in no event later than 15 days after reaching the hard cap), subject to the Terms and Conditions.
For more information please visit the links below;
ICO Page: https://www.medxchange.io/ico
Bounty Thread: https://bitcointalk.org/index.php?topic=3133168.0
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409