MEDIBIT Platform is an Ethereum-based blockchain platform regulated by smart contracts and made up of 4 essential components. The platform supports the global mobile healthcare (m-healthcare) community by building and creating solutions devoted to improving the quality of self-managed healthcare across the globe. The blockchain technology, fundamentally a distributed database, gives the platform the power to address the challenges faced by the mobile healthcare industry.
MEDIBIT plays a foundry role in evolving the way people will manage their health in near future.
MEDIBIT Token (MDB) an ERC20 Token, will be the first cryptocurrency that uses a decentralised healthcare consultation platform. It transparently rewards patients and mobile healthcare practitioners who make contributions benefiting the community.
The project team strongly believes in building a digital marketplace that will fall into the hands of the people allowing them to self-manage their health as needed. This in return would be resulted in the disruption of the existing mobile healthcare industry and the creation of new sectors in the short and long term. Looking forward, the project owners expect the platform to drastically improve self-managed healthcare habits, hence improving the quality of life for individuals resulting in improved overall health and increased longevity.
2. MEDIBIT STO PROJECT PITCH
One of the most ambitious blockchain projects you may come across, we aim to save millions of lives, globally.
2.1. WHAT’S THE PROBLEM?
Millions of patients are misdiagnosed / undiagnosed for their medical conditions by healthcare systems/practitioners, affecting them adversely. Patients dying due to this problem, is a disturbing yet not an unknown fact. The problem stems from:
2.2. THE ROOT CAUSE OF THIS PROBLEM?
- Patients having no access to quick & inexpensive consultative healthcare
- Healthcare systems are incompetent to reduce the impact of problem as these are designed around policies, procedures & guidelines motivated by profit-making
- There’s a lack of trust in healthcare systems, as these systems have evolved into a mechanism for extraction of money for people outside the practice of medicine. As an example insurance company delays & extremely complicated insurance policies are commonly experienced.
- Offering new/innovative treatments, combined with greater administrative burdens & complexity of the healthcare delivery system, have created unsustainable cost growth
- Patient-centric care is blurring out by profit-centric practices.
2.3. THE SOLUTION
Developing a new system or suggesting improvements in existing systems to address all of the above-identified & many unidentified problems doesn’t seem an appropriate solution. This is because complexity of systems, profit-making motives, and ‘one-size-fits-all’ issues would still remain unaddressed.
A more viable approach would be addressing niche use cases. One such is misdiagnosis /undiagnosed medical conditions, claiming precious human lives.
Our platform, Medibitcoin Network aims to connect patients seeking a 2nd opinion on their initial medical diagnostics with consultative healthcare practitioners, globally. The benefits of this platform are:
- Affordable & easily accessible consultation;
- Highly cost-effective service available & accessible by a population of 1 billion across the globe, unknown, unthought & unheard until now;
- Potentially saving millions of precious lives that had been lost prior to this service;
- Reducing the burden from healthcare systems;
- Giving people an option to self-manage health
2.4. WHY BLOCKCHAIN? IS IT EVEN NECESSARY?
Before this technology, such a platform wasn’t possible to function in a cost-effective manner, making transactions prompt along with ensuring patients’ data security. Blockchain technology makes this possible.
2.5. WHAT INSPIRES THIS PROJECT?
Millions of people have no choice but to trust their healthcare systems. These systems have no exception of being state-owned or private. Practitioners are trained to comply with the healthcare system whilst making a diagnosis. But do such practices, always work? Let’s see…
A simple google search would bring up many more similar stories from leading newspapers
The results are shocking. Most importantly knowing that precious lives can be saved by a very simple solution i.e. seek a 2nd opinion on initial diagnostics from a practitioner who is working independently of any healthcare system.
2.6. ISN’T THIS SERVICE ALREADY AVAILABLE
Surprisingly no! Apps offering primary healthcare such as connecting patient with doctors, telemedicine services, in addition to health & fitness apps are available in the market. Talking specifically about 2,551 Dapps, only 18 are categorised under ‘healthcare’ and none offers what we are offering in the best of our knowledge & at the time of writing.
2.7. HOW FAR ARE WE?
We have successfully raised 3500+ ETH in private token sale, warming up for crowdfunding in Spring/summer 2019.
3. MEDIBIT PLATFORM & HOW IT WOULD WORK?
First, let us tell you a story, that is true for someone, somewhere.
A patient sees his family doctor complaining about backache. Not finding any problem, the doctor asks him to get back if the backache doesn’t get better in a week’s time. The patient lived with unbearable pain as painkillers weren’t effective. After a week, the patient sees his doctor again. Still not finding any reason for the pain, the doctor tells him that there’s nothing he could do. The advice was the same’ if it doesn’t get better, he should get back next week. Unfortunately the next day, the pain got worst, & patient’s leg got numb. He was rushed to an emergency unit of a local hospital. After waiting for 4 hours, he was tested positive for malignant tumour at the bottom of his spine.
The precious week out of patient’s life, that got wasted just because the family doctor wasn’t able to diagnose the problem and should have referred him to a specialists/consultant, was enough for the tumour to grow and claim patient’s life.
BUT NOT AFTER MEDIBIT PROJECT.
The patient now has a DApp on his phone that instantly gives him a choice to talk to a consultant/specialist anywhere in the world. Once he gets back from the family doctor, unsatisfied and living in pain, he knows he can get on to the Medibit Dapp. He gets connected to a consultant in Australia within 4 hours. The consultant asks for his symptoms & asks to get a few scans/tests done. 48 hours later, patient uploads requested scans within seconds. Consultant suggests that he should be immediately tested for malignant tumour around the nerve system.
The patient goes back to his family doctor. Upon listening to a consultant’s opinion, he immediately refers him to an oncologist. The oncologist agreed with 2nd opinion & immediate treatment, saved patient’s life.
4. WHAT DO STATS SAY?
- The platform is providing a solution to a problem affecting millions of people across the globe. Currently, such a service isn't available across the global market.
- Operating in the global mobile Healthcare Sector expecting significant growth; from $23 billion (2017) to $189 billion (2025), the market has a huge potential showing 35% growth
- Medibit Token expected price appreciation will stem from the supply & demand of the service. Since the provided solution is for a problem affecting millions, demand for service will appreciate the token price. Medibit Token will be used for the transactions made across the platform