MedCredits

MedCredits
ICO date: 01.03.2018 - 30.04.2018
Description:

MedCredits is the first blockchain powered platform connecting patients and doctors worldwide in a decentralized network.

How it works:

MedCredits uses blockchain and high-resolution cameras of modern smartphones to connect healthcare professional and patients worldwide in a decentralized network. They have already developed the first dapp (decentralized application), Hippocrates, that is focused on dermatology. The company’s vision is to become a platform for third party medical dapp developers.

This allows to reduce cost of the diagnosis, reduce the time that both patients and doctors spend on face to face examination, and to give people from developing countries access to high quality medicine.

The system of smart contracts MedCredits offers includes using escrows and reputation-based ratings to guarantee fair payment between parties and the high quality of service.

Innovation:

The innovation in MedCredits project is not as much in the technology itself, as in the creative use of it. It employs blockchain to create a really effective telemedicine tool. With the vision of the project that they have, MedCretits platform can become a thing that makes medical diagnosis easier, more effective and cheaper.

Innovation score: Medium

Token value:

MEDX token is used for making payments on the platform and verification fee for medical specialists. It does not act as a share and does not give token holders the right to a part of the company’s distributable income or any control over it.

Still, as the platform is likely to be successful, MEDX will see a rise in price with the growth of the user base.

Token value score: Medium

White paper:

The white paper leaves a positive impression. It contains, among other things, market analysis, and a very detailed description of the decentralized protocol they are using and the features of the dapp. The only drawback is that the business plan they present is not very detailed.

White paper score: High

Roadmap:

Having registered a company in August 2017, MedCredits have developed the Hippocrates dapp in January 2018, which is in closed beta now. They plan on releasing the beta in March 2018.

The vision they have for the platform is to become a basis for third party medical dapps starting from Q4 2018.

Roadmap score: Medium

Business model:

The telemedicine market is expected to grow to a $200 billion a year industry by 2025. High-resolution cameras make it possible to get a diagnosis from anywhere in the world.

MedCredits will connect qualified professionals with people worldwide, while reducing the total cost of a physician consultation to $5 or $10. This surely is a great venture from both economic and humanitarian standpoint.

The route to market through dermatology, as one of the easiest fields to diagnose via photos, is a smart move too.

However, since the white paper does not provide the information about company’s revenue streams, it is impossible to give MedCredits the highest mark.

Business model score: Medium

Team:

The team that is driving MedCredits forward is excellent. It is founded by Ivy League doctors. The CEO used to hold a position at United States Patent and Trademark Office and worked as Director for a medical device company. The technical lead co-founded one of the first altcoin indexes.

The only concern that could have arisen is insufficient management experience in the team. But the advisory board compensates for that. Another prominent thing about the board is that they have Timothy Enneking, the man, who was managing the world’s first Bitcoin fund in 2013, as an advisor.

Team score: High

Competitors:

The question about the competition is tricky here. From one hand there are ordinary clinics that are not going to go away due to the telemedicine. From the other, numerous sites and apps that offer a probable diagnosis based on the symptoms.

Direct competitors, startups that connect healthcare professionals with patients seeking diagnosis, are few.

Competitors score: Medium

Overall thoughts:

Even though MedCredits has a couple of small drawbacks in the presentation, it is a great project. It is one of the first companies on this emerging and promising market. A wise investment.

Website: Site
Whitepaper: Whitepaper

Overall Score

Medium

3.6 / 5

Risk score

NA

Crowdsale


ICO

ICO start date: 01.03.2018
ICO end date: 30.04.2018
Soft cap: 10,000,000 USD
Hard cap: 35,000,000 USD

TOKEN DETAILS

Ticker: MEDX
Token price in USD: 0,5

Legal


ICO Platform: No
Registration Country: USA