MEDCREDITS: Your New Way To Visit The Doctor
With technology ever-advancing and medicine always in need, telemedicine is poised for tremendous growth over the next year. Telemedicine allows doctors to remotely diagnose patients by using an image or description of the ailment and the accompanying symptoms provided by the patient.
In the United States, the average person waits 32 days to see a specialist, 2 hours for the actual appointment, and spends between $100 and $200 on that first visit. In many other countries, average wait times can be much longer.
With more and more patients around the world in need of affordable healthcare, MedCredits uses the combined power of telemedicine with blockchain technology and allows patients to connect with doctors worldwide on a decentralized network. In doing so, MedCredits creates a free-market system allowing for affordable and efficient healthcare.
Catching up with the foundation team we asked a few vital questions surrounding MedCredits and their scale for growth.
WHAT WAS THE INSPIRATION BEHIND STARTING MEDCREDITS?
"When I first learned about bitcoin in 2013, I saw huge potential in blockchain technology," said CEO James Todaro. "When Ethereum launched smart contract functionality in 2015, many envisioned blockchain applications disrupting cloud storage, finance, fundraising, prediction markets...and healthcare."
As a physician in the United States James and his colleagues spotted everyday deficiencies in the current healthcare system, not only with its expensiveness, but also its restrictive and inefficient nature. Given his background as a US medical doctor, James believes MedCredits can make medical care available to persons worldwide at a fraction of the cost.
After gathering a team of physicians, financial experts and developers who are well versed in blockchain technology, MedCredits was born, launching development of the first blockchain powered platform connecting patients and doctors worldwide on a decentralized network.
WHY DO WE NEED MEDCREDITS?
MedCredits has a goal of allowing patients anywhere in the world to receive a medical recommendation from a board certified doctor in under an hour for $10. Using Ethereum smart contracts, decentralized and encrypted data storage, and smartphones, which will allow everyone to have access to board certified physicians via their telemedicine app.
"We aim to release the alpha version of 'Hippocrates' in February 2018," said James. "Hippocrates will be the first major platform release specifically targeting dermatology. This will allow patients to receive recommendations from doctors regarding skin concerns." Hippocrates alpha version when released will be invite only to selected token sale participants. Upon a successful launch of their dermatology app, MedCredits aims to will expand their offering to other medical specialties including mental health, ophthalmology, internal medicine, family practice and pediatrics.
WHAT PURPOSE WILL THE MEDCREDITS TOKEN HAVE?
The MedCredits token (MEDX) will be used for payment on the platform. MEDX will also be used for physician verification on the platform. Independent nodes within the network will verify physicians and incentivize good actors while disincentivizing bad actors. The nodes who participate in physician verification will be compensated by the network in MEDX tokens.
CURRENT DETAILS OF YOUR ICO?
Currently in a round of seed funding, MedCredits token presale will begin in late January followed by the public sale. There will be a fixed total of 100 million MEDX tokens generated whereby 70% of the total MEDX will be available for purchase in the token sale.
Interested parties should contact james (at) medcredits.io.
WHY PARTICIPATE IN THE MEDCREDITS ICO?
With nearly $3 billion invested in ICOs in 2017, the amount of funding in the space is rising exponentially. The total amount of ICO funding dedicated to healthcare platforms is under $30 million, less than 1% of the total ICO funding this year. Funding in healthcare centered blockchain platforms is dramatically underrepresented considering that health spending is one of the largest sectors of industry with $3.2 trillion spent annually in the US alone. MedCredits aims to be the first decentralized healthcare platform to capture this market.
WHERE DO YOU SEE THE PROJECT IN 1 YEARS TIME?
"Imagine a busy professional working 80 hours a week notices a new mole on their arm," said COO, Moshe Praver. "But Instead of waiting a month for an appointment, requesting time off work, and sitting in a waiting room for hours; you simply pull up the MedCredits app, snap a photo of your skin problem, provide a few details, and submit your case. An hour later you receive medical recommendation that will give you confidence in treating your issue.....all from your smartphone.
THIS IS MEDCREDITS.