Episode Highlights:
- 00:10 – What Is Medi Chain
- 01:50 – What Does Medi Chain Do?
- 02:10 – How Medi Chain Works
- 03:57 – Medi Chain Website
- 04:46 – Purpose Of Medi Chain
- 04:56 – About Medi Chain Ico
- 05:46 – Medi Chain Is Revolutionizing Medical Records
- 06:17 – About Medi Chain
- 07:01 – Advantage Of Medi Chain
- 07:35 – Is Medi Chain Data Anonymous
- 07:49 – What Is The Cost To Access Medi Chain Data
- 08:20 – Potential User Base For Medi Chain
- 08:48 – How Long Does It Take To Access Information On Medi Chain
- 09:28 – Cost Of Doing Medical Research
- 11:34 – What Medi Chain Offers
- 12:25 – Medi Chain White Paper
- 13:41- Medi Chain Abstract Claimer
- 14:22 – How Is Medi Chain Data Accessed
- 15:18 – Mvp Product For Medi Chain
- 16:54 – Ico Benefits For Token Holders
- 18:37 – Medi Chain Roadmap
- 18:51 – Medi Chain Team
- 19:34 – Buying Mcu Tokens
- 20:09 – Mcu Token Price
- 20:57 – Buying Mcu Tokens
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Transcription:
Hey, what’s up guys.It’s Dan again from cryptocamacho.com where each day I show you the latest tips, tricks and the best ways to make money in cryptocurrency.
00:10 – WHAT IS MEDI CHAIN
Today guys I have a very exciting ICO that I want to review for you guys. I want to know your take on this. I think this could be a big breakthrough in the medical community and I would love to know your take on this ICO. So what am I talking about guys? I’m talking about and ICO called medi chain. Medi chain claims that they are saving lives on or with the block chain, the medical big data platform. This is exciting guys. This is a problem that people, companies, industries have been trying to solve a for a very very long time; bringing medical records into a centralized repository so that doctors, researchers, patients can see that data and access that data, utilize that data, research using that data in real-time by accessing that network. This obviously has been a very very challenging thing to do with the technology that we have available today. A lot of companies have been trying to tackle this problem, including GE, Microsoft, SAS, a lot of other companies have been trying to tackle this problem because it is such a big and complicated and complex problem. So medi chain is turned to solve the exact same problem but by utilizing the block chain technology.
I think this is actually very very revolutionary and I think it is a prime time for an ICO like this to be popping out because I can block chain can solve a lot of problems that haven’t been able to be solved before by other companies, but other industries, but other technologies in general.
So let’s just go through this ICO step by step. Let’s see what it is, let’s go through it. And actually at the end of the video I would actually show you a little bit on how you can actually buy the ICO tokens during the token sale that they are running right now.
01:50 – WHAT DOES MEDI CHAIN DO?
So first and foremost what is medi chain? Somedi chain is attempting to solve that problem that I was just telling about to bring medical records onto the block chain, into a centralized or in this case a decentralized distributed network database if you will.
02:10 – HOW MEDI CHAIN WORKS
They’re going to be doing that by etherium and block chain bringing all medical records onto the block chain to make it possible for patients to access their data, their medical data, their medical history, their medical records, anywhere, anytime in the world. It will allow patients to give access to other medical professionals to have access to their own medical history and so forth and so on. You can imagine that would be very beneficial as you switch doctors, specialists, get tests done so forth and so on. But it is also going to enable doctors and medical professionals to access those records until very quickly understand your medical history.
And then thirdly, I think this is a really really crucial piece of this, is that it’s going to enable researchers to look at and see the data in an anonymous way to do research in the medical fields. So imagine if this network grows very very large with hundreds of millions of people on the network, just imagine the type of medical data they would have available on this auction at any point in time. That they could then study and cross correlate with each other to study diseases across population, disease control across population, outbreaks in different regions of the world and what may have contributed to that, seasonality of different diseases, medical conditions that may have predispositions. Our medical conditions that may have developed over time, they will be able to study these things in this data because it will be accessible within this kind of wide ranging decentralized network.
And of course it will only be available with the permission of that patient of that medical record. So that is kind of in a nutshell what medi chain is. Hopefully that is a decent explanation for you guys. I’d love to know what you think.
03:57 – MEDI CHAIN WEBSITE
Let’s go through some specifics on the actual website. Here it is medichain.com.online; that’s their site. I would put their link in the show notes. I definitely recommend you watch this video, it is very informative, how they created this big data platform. And if you know anything about big data now in the 21st century, 2018, big data is big business. Big data is very complicated. Data is valuable. Companies that now own data and generate large amounts of data actually have been known to disrupt multiple industries simultaneously. Think of Facebook, think of Google, think of Netflix, think of Yahoo back in the day, think of Internet of things companies as well. The more data there getting the more powerful those companies become because data is very powerful.
04:46: PURPOSE OF MEDI CHAIN
Medi chain is trying to solve the big data problem with medicine, with medical records on the block chain.
04:56 – ABOUT MEDI CHAIN ICO
First and foremost about the ICO. This ICO has been rated very very highly by a number of agencies that track, rank, rate and monitor ICOs. You can check these out right here. You can go to the website here and check out some of their details. But as an example, let me just open one of this for you; track ICO. That is a platform that does research on ICO’s, it ranks ICO’s based on the number of different criteria. You could see it over here. I’m not going to go and do a review. What I want to let you know that there is additional information about this ICO that you can look up, understand, research and so forth on all of these different ICO agencies that are reviewing ICO’s.
So check that out. I definitely recommend that. It will give you a lot of insight and not only into this ICO but into other ICO’s as well. I highly highly recommend that.
05:46 – MEDI CHAIN IS REVOLUTIONIZING MEDICAL RECORDS
The founder of medi chain, says medi chain is revolutionizing medical records in healthcare with block chain. I think he’s absolutely right. What they are doing is pretty groundbreaking if they can pull this off. And I think block chain is kind of a prime solution for something like this. It’s a decentralized. It can be vast and big with millions upon millions of users. It can provide accessibility instantly on a network because it is distributed. We don’t have to rely on server connections that may be across the world. It’s all on the block chain. It’s highly highly accessible very quickly.
06:17 ABOUT MEDI CHAIN
Medi chain gives patients ownership of their own medical data. Medi chain is a big medical data platform and it allows patients to store their own data in a secure way and give access to specialists anywhere in the world regardless of the network. This is big and I think this is very big in other countries. In the US, not may be as much of an issue, a lot of the medical providers can cross share and cross distribute medical records already through a number of solutions. Not to say it is perfect but there are solutions in place for that but I think this is going to open the doors for other countries to start participating in this and to make those data sets and those sample sizes much much bigger. So that is one aspect of this.
07:01 ADVANTAGE OF MEDI CHAIN
Some key points here, take your data anywhere you go. So patients like myself, a medical patient, can move their medical records anywhere they want. It’s, that people change doctors, they go to specialist, they go to different companies that have different insurance policies and so they may have to switch healthcare providers and so forth. So sometimes that’s a hassle, moving your medical records all over the place. Sometimes it could be a challenge, sometimes it can be a hassle, that getting multiple x-rays and stuff like that. They’re trying to solve this problem by storing that in the block chains so you can access it anywhere you go in with any provider.
07:35 – IS MEDI CHAIN DATA ANONYMOUS
It keeps data safe and anonymize so the data that you provide as your patient medical records would be anonymized. So it won’t be public information. That’s already happening today, that’s already the case so I think they’re smart to follow that protocol. Otherwise they wouldn’t go anywhere.
07:49 – WHAT IS THE COST TO ACCESS MEDI CHAIN DATA
No cost to patients or doctors. That’s very refreshing that patients and doctors will not need to pay for this service at all. Monetized by patients opting to let scientists and companies use their data for research. So what they’re going to do is they are going to generate money for the company to be able to do this by data research. Data scientists that are researching the data, they will likely have to pay fees to access that data. And which in turn makes it free for patients and doctors to actually use the service like this.
08:20 – POTENTIAL USER BASE FOR MEDI CHAIN
They are projecting that 2 billion user base our potential user base for this type of technology. There is over 7 billion people in the world, so 2 billion that may seem a bit low. It seems like it should be a little bit higher than that. I think they’re being conservative. But still a lot of potential for growth; everybody goes to the doctor, everybody goes to the dentist, everybody at some point in time see a medical provider at some point in time in their life. So very big market size, which I think again is very promising.
08:48 – HOW LONG DOES IT TAKE TO ACCESS INFORMATION ON MEDI CHAIN
$150 worth of billion patients’ problem solved. Not sure how they got that but I think it’s okay. I’ll take their word on that. 14,400 times faster transaction speed. And I think what they’re saying here is that the ability to access medical records across the world varies in terms of speed for researchers and doctors to access that information, it varies in speed. They’re saying that they’re going to accelerate the accessibility of those records by 14,000 times. That’s a pretty bold claim but I believe it. If you think about some of the remote areas in the world, it’s probably very very difficult to get medical records between doctors or among doctors.
09:28 – COST OF DOING MEDICAL RESEARCH
The solution and the problem is fairly well spelled out right here. So the US firm US big Pharma spends $157 billion a year on research. Second, medical errors are now the third largest cause of death in the US costing $1 trillion in the US alone. So that is a side issue here that they are solving. Aside from letting patients store their data on the block chain, letting doctors access that data on the block chain they are actually solving a very big medical research problem which is outlined right here. So the data solution to this problem is population-based de-identified patient data, which is already produced advances against the World Health Organization, top 10 diseases including diabetes and heart failure. Population data let’s researchers tackle the big issues in medicine. I’ve already talked about that a little bit. Medical research data science in the medical field is very very big business. It’s how big pharmaceutical companies make drugs. It’s how they make their next drugs. It’s how they decide on what drugs to make; by doing research studies that are being outlined right here. Very very big business. If you think of any type of pharmaceutical drug that has gone to the market recently, you know at least in the US it takes years and years and sometimes decades to approve different drugs, different medical procedures so forth and so on through the FDA and other organizations. It takes a very very long time to do that because they have to provide a lot of evidence of research, of testing, of trials. And I think medi chain would help accelerate that by providing data and finding correlational data in the data sets that may help researchers accelerate that overall process.
What does that mean? That means drugs come faster to market, that means experimental treatments are quicker to be used, quicker to be tested, which ultimately translates into more lives are being saved, more people being cheated for diseases that they may have not been treated for in the past. I think that’s overall very very cool, very altruistic, very very good cause in and of itself.
11:34 – WHAT MEDI CHAIN OFFERS
What medi chain offers? Using block chain technology medi chain would promote these research breakthroughs. Sharing medical data; by patients opting in and sharing their medical data anonymously of course, they will be able to help people who are suffering from similar health issues. So they get a big sample size of data of a certain number of people that are affected by an illness or disease, they could then isolate down where the disease outbreak started, where it’s progressing, what the demographics and psychographics and health is of the people that are affected by that disease, they can study that. And they could correlate and study all of these things together to make breakthroughs a lot quicker. And that’s kinda what I was saying a moment ago.
Additionally sharing medical data will streamline the process of finding cures to the world’s top diseases are the worst diseases.
12:25 – MEDI CHAIN WHITE PAPER
Before we go into the actual token benefits let’s go into the white paper very quickly. Here is their white paper, it is fairly fairly extensive as you can see. You can go and read through this yourself but it is very very extensive which makes me know that they have thought this through very extensively which I think you would need to for company like this. This is a big problem to solve. It is a complicated problem to solve. But as you read through the white paper here, it is very very interesting how they are approaching the problem using block chain technology. And they are working with, as their founder, they’re working with Mark Baker who is an Oxford PhD; Cancer scientists and big data specialists, this guy couldn’t be a better person for the job to be building out a platform that this. I mean this guy is an expert in many many fields and many areas. And that always blows my mind how these people are so damn good at multiple fields.
But anyway that makes me confident that this is not some one-off project in that they’re trying to throw together. It is a very big project that is in the works for very very long time by people like Mark Baker, who are medical professionals, big data specialists, data scientists and things like that.
13:41- MEDI CHAIN ABSTRACT CLAIMER
the abstract claimer says medi chain is a platform, our proposed system allows patients to store their own data off chain and an appropriate geographic domain and give access to doctors and specialists anywhere regardless of their payer network or EMR used. That’s important. Patients, doctors and hospitals can put data into a compliant cloud which becomes part of the medi chain ecosystem. And the block chain stores pointers and rules on the usage of anonymity while the data is stored off chain in a compliant cloud. Patients can then access their data anytime that they want as well as doctors and hospitals can access parts of the data or all the data as provided by the patient.
14:22 – HOW IS MEDI CHAIN DATA ACCESSED
Then researchers and pharmaceutical companies can access the data as big data in fully anonymized form. It is monetized by their ability to voluntarily give anonymized access to untampered data to pharmaceutical companies, researchers and insurers. Potentially, it may also be of use for prescription management.
In this piece is important. Its unique architecture allows small access to make it practical for everyday medical use. The protocol is based on smartcards or the etherium block chain. It then goes into some tech terms right here which I’m not one to get into. But that’s the key; very quick and highly accessible environment for anywhere in the world. That’s the key here and I think that’s what block chain is enabling and allowing. Not only that but it’s also securing and anonymizing the data stronger and more securely than anybody else has ever been able to do before. That’s one of the revolutions of block chain.
15:18 – MVP PRODUCT FOR MEDI CHAIN
As we go down you’re going to be able to see all the table of contents in this white paper. Again I’m not going to get into all of this right now. What you can get into it. I think it is very very good, the way they have written this up. The benefits, the description, the context; all a very well thought out. And the market size here, just went back to that a little, the average cost of developing a new drug is $2.6 billion, taking over budget and six samples in 10 companies. The annual development budget in the US is $157 billion per year. Mark Baker who is the founder has first-hand experience in this sector, doing data analysis, doing research on cancer, patients so forth and so on. And so I think the market size is phenomenal. For a project like this you want to look for a big market size, really for any ICO. The market size here is astronomical. It’s huge and everybody needs to go to the doctor. So I think that’s kind of a no-brainer in and of itself.
So that’s all I’m going to cover on the white paper itself but I do want to show you that they have a working MVP product for medi chain. If you go to MVP.medichain.online, you can see there MVP product here. I haven’t actually logged in our sign up for an account on here. I can’t login for you but you can sign up if you want to check it out.
You have new patient registration, you have calculators on different things so forth and so on. As you log in I’m guessing, and I’ll probably do it at a later time, but if you log in you will be able to see there MVP platform and how they’re developing it out. And you can look at their roadmap to see how they are going to continue to develop that out.
16:54 – ICO BENEFITS FOR TOKEN HOLDERS
So now let’s get into the ICO benefits for token holders and why somebody would want to participate in this token.
The benefits to token holders is that medi chain utility tokens, MCUs represent the value of arbitrary patient data blocks. So the tokens themselves represent some of the patient data blocks that will be stored on the block chain. So if you access our hold these MCU tokens, they are going to be worth money because they will contain data that’s stored on that actual block chain. So more and that in a minute.
Other benefits here, institutional medical data services including diagnoses. You can use your MCO tokens for medical research, data services. Any and all additional benefit, business transactions on the medi chain platform. Personal medical data services, transfer, MCU discounts, research program voting and you get to determine the focus of future research. That is pretty cool in and of itself. I’m not sure how that’s going to her but I think it’s a pretty cool concept.
They did feature a lot in the news. This companies based in the UK so you’re going to see some new cable news outlets here showcasing it.
The founder is very connected with a lot of different medical institutions in the world because he is a doctor, he is a cancer doctor, he is a cancer researcher. So he has access to a number of medical professionals across a variety of world class medical institutions. Harvard Medical Center, UCLA, NHS, University of Cambridge, University of Oxford; these are very big well-known institutions that have a lot of skin in the game. The fact that they are partnering with those companies makes me very very bullish on this ICO.
18:37 – MEDI CHAIN ROADMAP
Their roadmap goes through and shows you how they are researching it, their analysis and how they are going to open it up. I wish it opened up a little bit more on the roadmap but it doesn’t. Maybe later on they will show a little bit more.
18:51 – MEDI CHAIN TEAM
If you look at the team, I’m not going to go through the team but they have talked about the founder a bit. He’s very knowledgeable in this field of cancer research, medical research, big data analysis and so forth. The team is robust. You can look through, they have a lot of folks on their team. Obviously I’m not one to go through all of them but a lot of talent there. A lot of advisors as well. I think that’s very very important as well. They even have advisors on the ICO space. One of their advisors is Mike from ICO box. I like that, it’s pretty cool. So keep going through this.
I’m not going to get into the FAQs, you can look through that yourself. Of already really talked through a lot of these FAQs.
19:34 – BUYING MCU TOKENS
What I really want to do now is show you how to actually buy some of the tokens themselves. So let’s jump over to token sale. If you click on token sale you’re going to get a form to sign up. I have already signed up so you can see that I already have an account. I haven’t actually put in information here. I wanted to walk through that with you guys.
So here is the platform as you sign up, here is how you go and make a purchase of MCU tokens. If you can see here, your tokens will be held right here after you make a purchase. I will show you this in a minute. Your tokens will show up here.
20:09 – MCU TOKEN PRICE
The token price is one dollar. So for one MCU it is one dollar. That does seem a little bit high but I think with the potential of this ICO, I don’t think that is actually too high. I would expect it to be maybe a little bit lower. Given the market size here of this project, I think a dollar is actually quite conservative. I think in the long run, not in the short term, but in the long run the dollar value is going to be very very low, this is going to go far beyond the dollar in the future to come. But again, it is not a short-term project. It is a longer-term project so it is meant to take a year, two years to build it out. But the price is definitely going to go up a both a dollar. I’m not a financial advisor. Ask your financial advisor or CPA for advice. I’m not even a financial advice here, this is just my personal opinion but that is what I think.
20:57 BUYING MCU TOKENS
To buy MCU tokens, you have to decide how many you are going to buy. In this case I’m just showing you a demo. So I am going to buy 10 MCU tokens. I may buy more at a later time. I need to do a little bit more reading on the white paper itself. I need to do a little bit more research on the price and market cap and expectations itself. But I do want to show you how to purchase it.
So to purchase you just state the number of tokens you’re going to buy and it will calculate the total number of tokens you’re going to get. And that is all represented here. You need to make a deposit. You need to enter your etherium wallet into your profile which I am going to do right now. Here is my etherium wallet. I’m going to copy that. I going to my profile right here. I’m going to put my etherium wallet in there. And then I’m going to save my changes. And that should allow me to go and buy.
If you want, you can enable two factor authentication. I’m not going to do that at the moment. I’ll do that a little later on. I just want to get through this video so you can see how to buy. But to make it more secure obviously you want to enable two factor authentication.
Now go back to your dashboard and let’s actually buy some MCU tokens. Now I am going to make a deposit in etherium, tokens here. So I’ve got to get my payment address for etherium. All I did was take etherium, get payment address and this is the address that you want to send etherium or your crypto currency too. And that would change depending on your funding with bit coin, lite coin, bit coin cash or whatever. But I am funding with etherium. This is my etherium address right here. So I’m going to go ahead and open up.
So what I’m going to do I’m going to copy this etherium address that I need to send to. And I’m going to open my ether wallet which is right here. I’m going to paste in the address that they gave me into my address right here. I’m not one to send my entire balance. I have about $100 right here and I’m not going to spend that entire balance right now. I am going to send about 1/10 of that. So I’m going to send about $10, maybe a little bit more, I’m going to be that up a little bit. And I’m going to put my guest limit at 90,000. That will ensure that it goes through. I’m going to make this a little bit higher to make sure I have enough funds to cover it.
So now that I’ve done that, I’m going to go ahead and make my first deposit. It says please make sure to deposit equal amounts, the funds will appear in your account wallet only after your crypto currency transaction gets six confirmation. You will receive an email about your successful deposit. Please note your deposited funds blah blah blah blah blah
So now I am in my etherium wallet right here. I am going to say generate transaction, which it is asking me to do that. I’m going to send it. And went to confirm it. Yes I am sure. And boom, there it is. It’s been broadcast. Now my payment has been sent to the medi chain on Block Chain and I will wait for those six confirmations to get my MCU tokens.
So that’s really it guys. So now I would wait for those deposits to come through here on the platform and then I would be able to have my MCU tokens. That’s really about it, guys.
Hopefully that was helpful for you. I am very interested in the site. I am very interested in how medi chain is going to perform. I would love to know your thoughts on medi chain. I would love to know if you guys think it has potential or not. If there are other companies that is doing something similar. But I truly think this is a revolutionary idea, a revolutionary project. I think it can really change a lot of lives if it effectively plays out the way they want it to. I think there’s a lot of potential here for a very very good cause which is why I am bullish on medi chain. Let me know what you guys think. I would love to hear back in a year to see how this all turns out.
If you haven’t subscribed to my YouTube channel, please click on that little red button right below this video. I am Dan again from cryptocamacho.com. Please leave me comments and let me know what you think of this. I would be forever grateful. Thanks for watching guys.
