With just two days to go until its ICO closes, Medibloc has raised 70% or $21 million of its $30 million target. However, the ICO has only accepted payment in the form of QTUM, the price of which has risen over 50% in the last week.
That means, that the ICO has already reached 112% of its QTUM target. Either way, it is one of the leading active ICOs in terms of capital raised so far.
Medibloc is a project aiming to move medical records onto a blockchain, thereby improving efficiency and lowering costs in the healthcare industry. The project will have multiple business models and revenue sources.
Post-ICO Challenges Ahead
Patients will be provided with a digital health wallet holding a record of each interaction with a specialist. The company will also provide a database of healthcare providers in each region and a facility to monitor insurance cases.
Patients may have the ability to contact and communicate with patients with similar illnesses. The database will make data available to research centres. A further revenue stream will come from advertising on the platform.
The healthcare data market that Medibloc is entering is not without competition, however. For some time, entrepreneurs have been looking at possibilities blockchain technology can bring to the healthcare industry which is plagued by inefficiencies.
Other blockchain projects focused on healthcare records include Medicalchain, MintHealth, Patientory and Litra. And, in Dubai, the government has launched a project to move all government data, including healthcare records, onto a blockchain. This will be an interesting segment to watch, with substantial rewards for those that survive the battle.