What is MediBloc?
The MediBloc coin or MED is the native cryptocurrency powering the Panacea blockchain. The latter is the mainnet of MediBloc - a health information platform powered by blockchain technologies.
MED mainly serves as a governance token that grants holders voting rights. This means they can cast their vote on proposals detrimental to the future of the project. Holders who stake their MediBloc coins receive voting power which is based on the amount of MED tokens staked.
It’s also used as an incentive within the MediBloc ecosystem for both patients and healthcare providers.
The MediBloc tokens have been distributed as follows:
- 50% - Supporters;
- 20% - Co-founders and team;
- 12% - MediBloc Development;
- 10% - Early Investors and Advisors;
- 8% - Research.
The Medibloc coin can be obtained via major exchanges. Some of them include exchanges exclusive to the South Korean market. This means that international investors won’t be able to use them.
The vision of the MediBloc coin is to provide real-life utility by becoming a payment method for medical services and healthcare expenses.
You can have a more in-depth look at the MediBloc price history as well as the current MediBloc price on the graph above.
What are the Main Features of MediBloc?
As discussed in the What is MediBloc section, it’s a blockchain-based project with a public ledger. This means that all data is publicly available for anyone to access. In order to bypass this privacy concern, MediBloc issues an identifier to each patient and puts personal information behind it. This means that only the identifier remains on the public ledger.
The MediBloc platform is deployed on the Panacea blockchain. Similar to TRON and EOS blockchains, Panacea operates using practical Byzantine Fault Tolerance (pBFT) and Proof-of-Stake (PoS) consensus mechanisms. However, it was initially powered by Ethereum and Qtum.
Therefore, users who still hold MediBloc’s ERC-20 and QRC-20 standard tokens can swap them for new ones on June 1 and December 1st every year.
Panacea is linked to the Cosmos ecosystem through Tendermint. This means it has access to all of its products and services such as Cosmostation Wallet, and Osmosis crypto swap, among many others.
One of the main goals of the project is to give back control to patients regarding their health data. Moreover, they aim to facilitate medical research by allowing patients to provide their own data for research purposes.
Before making any purchase decisions regarding MediBloc (or any crypto project), make sure to do proper research. You can start by checking out the current MED price on the graph above.
Who Developed MediBloc?
The MediBloc crypto project was launched in 2017. While the company itself is based in Gibraltar, its main market remains in South Korea.
MediBloc’s co-founders are experienced professionals in the medical field - Wookyun Kho and Eunsol Lee who work as a dental surgeon and a radiologist respectively.
Besides being in the healthcare field, the duo has worked in software engineering and game development at Samsung and Nexon.
The core team at MediBloc consists of individuals from diverse professional backgrounds including medical experts Sang Min Park and Hyun Wook Han, researchers Sungjae Jung, and Minjung Kim.
