MediBloc Coin – All important details at a glance

The MediBloc Coin, also known as MED for short, is a blockchain technology designed to make its way into the healthcare sector. With the help of the blockchain, patient data can be stored decentrally and called up quickly.

The MED Coin is intended to create incentives to use the network. But what about the prognosis if bureaucratic hurdles stand in the way?

MediBloc Coin – What is this crypto currency?

MediBloc is an open-source platform that uses blockchain technology to build a decentralized network for the healthcare industry. The MED development is based on the blockchain from Ethereum, so the crypto currency is an ERC20 token. The MED crypto currency can be used within the network to pay for services or purchases. For example, when purchasing pharmaceutical products or paying for insurance policies that are part of the network.

MED Coins can also be earned by feeding data into the blockchain. This gives you „Medi Points“. The point system measures the activities of the users and awards points based on this. These points are tokens and are also used to verify processes within the network. However, these tokens do not leave the MED network, they cannot be stored in the Medi Bloc Wallet. Instead, they can be converted to MED coins by storing them for at least three months. The conversion rate changes depending on the amount of MED coins and other factors. At the same time you can buy MediBloc to convert it into points.

The MED network consists of three layers for the Bitcoin trader

The focus of the Bitcoin trader is on the development is on the blockchain. This should make it possible to store patient data decentrally and make it available. The problem with patient data is that it is usually stored centrally in hospitals and practices. This can make it cumbersome for physicians to obtain the required data from Bitcoin trader and in the worst case can lead to serious errors if the treating physician does not have the complete medical history available.

With the decentralized blockchain, the data is available anywhere in the world. At the same time, the patient should have full control over his or her own data; the patient decides who can view his or her medical history. With MED the blockchain, data security is virtually guaranteed. Unauthorized changes to patient data can be viewed transparently on the blockchain, as all changes are reliably stored here. Also the loss of data is almost impossible thanks to the blockchain.

Medi Bloc Core is the database that stores the patients‘ data. By using an encryption protocol, only the patient should be able to access the medical history, as he has the private key to do so. Medi Bloc Service uses Smart Contracts to connect the Medi Bloc Core with the other layer, which provides decentralized applications. Medi Bloc Application is this layer. It makes it possible for the user to use programs that give him access to the MED network.