Welcome to MedXchange.io - The Blockchain-Enabled Marketplace for the $340 Billion Medical Supplies Industry
The buzz about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is a enormous base of information where we can do anything. Internet has connected the entire world. One of these projects is MedXchange, a platform that facilitates and secures the global exchange of medical devices, supplies and payments, lowering ultimate patient/customer or insurance cost and increasing efficiency.
MedXchange is a blockchain-based system to democratize the global medical device industry. Check out the YouTube channel for more -- https://www.youtube.com/channel/UCGs1K_ePjn9hRzEeJfMILwA
MedXchange is a blockchain-based system to democratize the USD 340 billion global medical device industry. The platform will:
(i) disintermediate the medical device and supplies ecosystem and make it more efficient;
(ii) facilitate and secure the global exchange of medical devices, supplies and payments; and
(iii) lower patient/customer or insurance cost.
All transactions on the MedXchange system will exclusively be facilitated by our MedCash (MEDCASH) token. Basically, MedXchange is a huge global marketplace that connects sellers and buyers of medical devices, equipment and supplies. In 2016 the amount of that trade was USD 340 billion but it is growing to USD 435 billion in 2020.
THE WHO, WHAT, WHY AND HOW?
Who We Are
We are a team of career medical device professionals, regulatory professionals, doctors, allied health professionals, blockchain specialists, academics and business advisors, collectively representing hundreds of years of experience. We are committed and passionate about democratizing the global medical device industry. MedXchange is a blockchain-based system that will disintermediate the medical device and supplies ecosystem and make it more efficient.
Our platform facilitates and secures the global exchange of medical devices, supplies and payments, lowering ultimate patient/customer or insurance cost and increasing efficiency. While the system is initially focused on the medical device industry, it will be sufficiently flexible and scalable to add other categories of regulated health care ecosystems, such as pharmaceuticals, laboratory equipment, and services.
Initially, the MedXchange platform is backed by proprietary, innovative use cases and real world businesses, in addition to our own proprietary cryptomining operations.
MedXchange is a blockchain-based system to democratize the global medical device industry. The platform will disintermediate the medical device and supplies ecosystem and make it more efficient. MedXchange comprises a platform to facilitate and secure the global exchange of medical devices, supplies and payments, lowering ultimate patient/customer or insurance cost and increasing efficiency.
While the system will initially be focused on the medical device industry, it will be sufficiently flexible and scalable to add other categories of regulated health care ecosystems, such as pharmaceuticals, laboratory equipment, and services. Our platform is backed by proprietary, innovative use cases and real world businesses, in addition to our own proprietary cryptomining operations. Transactions on the system will be supported by MedCash (MEDCASH), an Etherium based (ERC-20) token used by users on the MedXchange platform as the exclusive cryptocurrency to conduct transactions, both in-country and globally.
The medical device industry is under major financial distress, in the United States but also globally. Many countries around the world are facing the same intensifying costs of medical devices and supplies and health care in general, as the United States and other countries are trying to address costs by reducing reimbursement rates, establishing price caps, requiring mandatory price reductions, using diagnostic related groups (DRGs), and limiting funds available for medical device purchases. With steeply increasing medical device costs, a secure solution for transparency and cost savings can have a massive impact on society.
MedXchange seeks to facilitate and secure the global exchange of medical devices, supplies and payments. The system will democratize the $340 Billion global medical device industry (growing to $435 Billion in 2020) by disintermediating the medical device and supplies ecosystem and making it more efficient, lowering ultimate patient/user or insurance cost in the process.
Because of the sensitive nature and requirements of medical devices, existing blockchain distributed systems are not adequate. The goal of MedXchange is to create a blockchain system that can pass the stringent requirements of regulated medical devices by ensuring better data integrity and encryption, and by providing a validation system to ensure the miners running this network are compliant entities.
MedXchange is a dual system platform utilizing a Blockchain protocol for transactions, identity and smart contracts, and with a distributed hash table (DHT) for data storage, managed by a governance system. The Blockchain protocol will be based off of the Ethereum network, and will start with proof of stake (i.e., Casper) and govern the data storage sites.
Most importantly, the system is backed by existing assets and use cases, including a novel, lifesaving medical technology that targets a population in excess of 835 million patients worldwide representing potentially in excess of 10 Billion transactions annually; a pipeline of additional, novel medical technologies and services companies targeted for acquisition also potentially representing billions of transactions annually; and our own proprietary cryptofarming operations in the works.
Advantages of MedCash
Increases profit margins by cutting out most if not all the middlemen in the supply chain.
Increases speed to market. For example when they bring out a new product, they can simply put it on MedXchange and access markets immediately.
Evens out the playing field. Meaning small suppliers can compete globally with large conglomerates – the democratization of trade.
Better global branding consistency.
No upfront cost to use and very low transaction costs.
The above list is not exhaustive.
More control and transparency.
More payment options.
Allows individual patients and consumers to be more self-directed - Consumers will play a bigger role in healthcare decisions and choices, reflecting a switch in mindset from being “patients” to “consumers”.
What makes MedXchange / MedCash Unique?
First, MedXchange is not being created in a vacuum. MedXchange has existing agreements Sell-side medical device manufacturers. The use cases flowing from these include two proprietary medical devices that represent a potential universe of millions of Buy-side Users (end users / consumers) globally, representing a potential opportunity for Billions of transactions/payments annually using MedCash (MEDCASH) over a 10-year period.
Second, the token burning process over the next 3 years will be supported by our own proprietary cryptomining operations. We plan to scale up our current cryptomining operations dramatically to produce daily revenues immediately. These revenues will support the token burning process while the MedXchange platform is being developed.
TOKEN SALE AND INITIAL COIN OFFERING
KYC / AML: Yes
Presale Start Date: March 16th, 2018
Presale End Date: March 31st, 2018
Token Symbol: MEDCASH
Token Type: ERC-20
Token Distribution: 55%: Sold; 15%: Team (on vesting schedules); 10%: CoSponsor/Use case provider; 1% Pre-white paper supporters; 4% Consultants (on vesting schedules); 5%: Technical tokens for stabilization and partnerships; 5%: Bounties; 5%: Further Development / Liquidity Reserve. In addition, the percentage of tokens the team has will remain at 15% regardless of how many tokens are burned.
Initial Token Price .0005 ETH
Minimum Purchase .50 ETH
Hard Cap 110,000,000 (110 Million) MEDCASH tokens – Equivalent to 55,000 ETH
Soft Cap 20,000,000 (20 Million) MEDCASH tokens - Equivalent to 10,000 ETH
The MedCash private sale will offer MEDCASH tokens to early contributors and investors to expedite platform development and facilitate the launch of the main/public token sale. The offer is scheduled as follows:
Pre-ICO Week 1 = 25% Bonus [16 Mar to 23 Mar]
(That means, during the first week of the pre-ICO 1,25 MedCash Tokens will be provided for each 0.0005 ETH transferred);
Pre-ICO Week 2 = 20% Bonus [24 Mar to 31 Mar]
(That means, during the second week of the pre-ICO 1,20 MedCash Tokens will be provided for each 0.0005 ETH transferred);
MEDCASH will offer the remaining MEDCASH tokens for up to 8 weeks after the private sales. The soft cap for the main/public ICO is 20,000,000 MEDCASH.
Minimum Contribution: 0,5 ETH
Maximum Contribution: none (for large contributors >$100,000 we may contact you afterwards for proper processing and bonus allocation. If you have any questions contact us at firstname.lastname@example.org)
Bonus: Starting from 25% and decreasing throughout the token sale per the outline here: https://www.medxchange.io/ico
Duration: up to 60 Days max (sooner if we hit the hard cap sooner; and we reserve the right generally to discontinue sooner)
Referral Commission: 3%
(a) During the Presale Start Date:
*During the first week of the Presale, 1.25 Tokens will be provided for each 0.0005 ETH transferred;
*During the second week of the Presale (i.e. the week just prior to the ICO Starting date), 1.20 Tokens will be provided for each 0.0005 ETH transferred;
*During the first week of the ICO - 1.15 Tokens will be provided for each 0.0005 ETH transferred;
(c) During the second week of the ICO - 1.10 Tokens will be provided;
(d) During the third week of the ICO - 1.05 Tokens will be provided;
(e) During the remainder of the ICO – 1.00 Token will be provided;
The Company will burn 50% of the MedCash (MEDCASH) tokens over the next 3 years and decrease the MedCash (MEDCASH) supply. Therefore the demand and value of the token will grow as an inverse proportion to the Token Burning process.
The MedXchange ecosystem will be powered by a cryptographic token called MedCash (MEDCASH), a tradable token representing the sole currency for transactions on the system and granting token holders exclusive access to the MedXchange ecosystem. The MEDCASH token is fully integrated in the MedXchange ecosystem and the transactions and participation in all components of the ecosystem will be done exclusively with MEDCASH tokens. Therefore the demand and value of the token will grow in direct proportion to the number of active users and the number and dollar volume of transactions on the MedXchange platform.
Upon reaching our Hard Cap of 110 million MEDCASH (110,000 ETH), the first distributions of tokens will commence to ERC-20 compatible wallets within 72 hours after reaching the hard cap (but in no event later than 15 days after reaching the hard cap), subject to the Terms and Conditions.
Participation Restrictions Void where prohibited
The MedXchange platform is owned by MedXchange Ltd. a Hong Kong limited company. See full Terms and Conditions for additional details.
MEET THE AMAZING TEAM
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
ICO Page: https://www.medxchange.io/ico
Bounty Thread: https://bitcointalk.org/index.php?topic=3133168.0
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.