Medibloc (MED)

Patient Data Management

Medibloc creates a patient-centered health data ecosystem where patients control their own medical records. It allows users to hold, store, and update their health data in one place, like a digital healthcare wallet.

Data Sharing and Privacy

The platform uses blockchain technology to securely share encrypted health data with medical professionals, institutions, researchers, insurance companies, and pharmaceutical firms. Patients decide who can access their data, ensuring privacy and data reliability.

Incentives and Rewards

Medibloc rewards patients and healthcare providers with MED tokens for contributing data or services to the ecosystem. These tokens can be used for medical transactions like insurance payments or accessing healthcare services.

Healthcare Service Improvement

By connecting fragmented health data in real-time, Medibloc helps improve diagnosis accuracy, treatment efficiency, and supports medical research. It also facilitates faster insurance claims and reduces paperwork.

Technology and Ecosystem

Medibloc runs on its own blockchain called Panacea, optimized for healthcare data exchange. It supports developers with APIs and SDKs to build new healthcare applications on the platform.

Pros of Medibloc

• Patient-Centered Data Control: Medibloc lets patients own and control their medical data, deciding who can access it.
• Healthcare Ecosystem: Connects patients, healthcare providers, researchers, insurance companies, and pharmaceutical firms in one platform.
• Incentive System: Rewards users and contributors with MED tokens for sharing and managing health data.
• Improved Medical Care: Helps reduce redundant data and speeds up accurate diagnosis and treatment.
• Blockchain Security: Uses blockchain to ensure data transparency and prevent unauthorized changes.
• Interoperability: Built on the Panacea blockchain, linked to Cosmos ecosystem, allowing smooth data exchange and integration with other services.

Cons of Medibloc

• Market Volatility: The MED token price can fluctuate significantly, affecting its value.
• Limited Wallet Support: Not all popular wallets (e.g., MetaMask) support Medibloc tokens.
• Adoption Challenges: Success depends on widespread use by medical institutions and patients.
• Complexity: Understanding and using blockchain-based healthcare data systems may be difficult for some users.
• Token Swap Requirements: Users holding older token versions need to perform periodic swaps to new tokens.

For more details, visit the official website: medibloc.com

Founders

Medibloc was co-founded by Dr. Allen Wookyun Kho and Dr. Eunsol Lee. Both are medical doctors with strong backgrounds in software engineering and technology. They combined their expertise in medicine and computer science to create a blockchain-based healthcare information platform.

Key Investors in Medibloc

• IMM Investment: A leading domestic financial investor that led Medibloc's Series A funding round.
• Company K Partners: A financial investor involved in Medibloc's funding.
• Naver D2SF: A strategic investment institution that participated in Medibloc's investment round.
• Coupang: One of the investors supporting Medibloc.
• Interchain Builders Program: Another investor contributing to Medibloc's growth.

These investors helped Medibloc raise approximately $3.5 million in Series A funding to support its healthcare blockchain platform development.

Halal Status of Medibloc

• Yes, Medibloc is considered halal by some Islamic finance experts because it is a blockchain-based healthcare platform focused on data management and does not involve interest (riba) or gambling (maisir), which are prohibited in Islam.
• It operates as a utility token within a healthcare ecosystem, incentivizing contributions without engaging in forbidden financial practices.
• However, halal certification can vary by scholar or authority, so some may recommend consulting a trusted Islamic finance advisor for personal confirmation.