#AskMediconnect : the answers to your questions part 1

As we enter March, MediConnect thinks it’s time to make sure the community is more included in the company’s development and progress. This is why we have decided to launch our first Q&A, with the hashtag #AskMediConnect.

You responded with lots of questions about a whole range of relevant topics. We gathered all of your questions and answered them here on Medium to ensure the whole community has the very latest information.

Mediconnect first Q&A

Tokens and exchanges

  1. When will the Bounty coins be distributed?
    We have already distributed the ICO coins. Distributing coins for the Bounty Programme is the next step and this will happen within six months of the Bounty Programme’s end date, which was 28 November 2019.
  2. When will the MEDI coin be added to an exchange?
    We are currently in discussions with several exchanges and have already reached agreements with some of them. Announcements will be made soon on our social media channels. If you’d like to be involved in this process, get in touch to let us know which exchanges you would most like to see list MEDI.
  3. Is there an explorer for the token?
    Yes there is. It’s the Cirrus Explorer from Stratis: https://cirrusexplorer.stratisplatform.com/.
Photo by Austin Distel on Unsplash

Blockchain

  1. What public data will be stored on Cirrus Sidechain? Is it as secure as a private database?
    The Cirrus Sidechain has a block explorer and is 100% transparent. The only public data stored is strictly regulated and can only be accessed if the user gives their explicit authorisation.
  2. Are there other companies that are using blockchain to help pharmacies control the dispensation of drugs other than MediConnect?
    Since MediConnect was created to solve a significant public health issue, we welcome all other companies that are also active in this field. There is space for everybody when it comes to saving lives. We constantly monitor other companies in the healthcare sector that could benefit from blockchain or accelerate the roll-out of our solution.
  3. Who in your analysis, is a competitor to your product in the field of blockchain?
    This market is so large and new, therefore there is limited competition to MediConnect. However, as we aim to protect patients’ lives on and offline, we welcome any company that could help reshape the pharmaceutical industry, whether they are direct competitors or not.
Photo by NASA on Unsplash

Use-cases

  1. What are the primary use-cases for the MEDI token?
    The MEDI token has functionality for a number of use-cases. Primarily, it will be used to fund transactions associated with the MediConnect platform.
  2. What are MediConnect’s plans to expand your service?
    We have so many plans for our project. Where should we start?
    1. Removal of credit/debit card fees: Traditional transactions are subject to a card fee. This creates a cost which is currently passed onto the customer but can be avoided by using a token.
    2. Removal of currency conversion fees: This industry crosses borders. Drug manufacturers are located all around the globe, often in a different country (with a different currency) to the country in which the products are sold to the retail customer. Currency conversion fees create a cost that is currently passed on to the customer but this can be removed by using a token.
    3. Payment for new services: Medical services that were traditionally carried out face-to-face are moving online. We are seeing private consultancy sessions via video calls with certified medical professionals (who may be located in another country) become mainstream. Given the borderless nature of this, a new method of payment is required for these services.
    4. Confidentiality: From a customer privacy point of view, no bank or any other external entity needs to know a customer’s purchases. MediConnect can avoid this by cutting out banks and payment providers. Of course, the customer will still be able to see all their orders by logging onto the website where they purchased their medication.
    5.Reward programmes: Pharmacies hold valuable medical data, and we understand that this data belongs to the customer. Drug manufacturers and research organisations are prepared to pay for this data, and MediConnect would like to offer our customers the opportunity to be paid for their own data. With a “reward scheme” like this, a token is the perfect unit of transfer. A cryptographic token is, in this case, a superior option as it can be exchanged for other cryptocurrencies or fiat currencies.
    6. Loyalty programmes: A utility token is more cost-effective for the pharmacy. A loyalty scheme will reward purchases that are made using the MEDI token. These rewards, like the MEDI token, can be used at any pharmacy utilising the MEDI platform.

Partnerships

  1. How many pharmacies have already migrated to the blockchain and how many more are planning to do so this year?
    Various pharmacies and MediConnect latest partner MyNetDoctor have begun integrating into MediConnect’s blockchain solution. Alongside this, MediConnect continues to sign new partnerships, details of which will be announced soon. The management team is aiming for eight or more pharmacies, including NHS pharmacies, to join the platform in 2020.
  2. What are the results of the discussions with the President of Uganda?
    The President of Uganda, Yoweri Musevini; Minister of Health, Jane Ruth Aceng; and other government officials have pledged their support for MediConnect’s blockchain-based platform to tackle various issues facing the country’s pharmaceutical sector. Specifically, the Ugandan government indicated that it would be favourable to working with MediConnect to tackle the country’s counterfeit drugs problem. In the meantime, we are analysing Uganda’s national infrastructure, their medical supply chain and their private pharmacies and hospitals.
  3. Does MediConnect have an official endorsement from any government agencies in Britain or from any other country ?
    MediConnect has agreed a contract with the newly formed Addiction Safeguarding Committee (ASC). Our blockchain solution helps them to share data across both independent and NHS prescribers and pharmacies in the East Midlands.
  4. Are there other countries that want to use your technology, and if so, which ones?
    MediConnect is discussing partnerships with various countries but our main priority is to develop the project in the UK first. From there, it will be easier to transfer the technology across different countries, whether it’s in the Middle East, Africa or the US. MediConnect strives to be as inclusive as possible to protect patients’ lives on and offline.

Launching MediConnect

  1. When we can expect the MediConnect app?
    The app is under construction at the moment. You can see a preview of the app and its features here: https://www.magisto.com/album/video/LyJ-Vg1fG1E_eT0GDmEwCX13?l=vsm&o=w&c=w
  2. When are the actual products and services envisaged by MediConnect going to be rolled out?
    The full-scale roll-out of the product and services will take time as it is a unique and disruptive project which has not been executed before. In 2020, our focus is on releasing a roadmap, developing the product and ensuring it meets the high standards required.
  3. How are you going to ensure that patients use your platform?
    MediConnect was designed as an easy way for pharmacies to make sure they are compliant with the law and specific regulations, such as the guidance issued by the UK pharmacy regulator in April 2019. This is important because any non-compliant pharmacies will no longer be able to dispense medications. An easy way for these pharmacies to comply and stay in business is to use a solution such as MediConnect. Additionally, as MediConnect grows and partners with more online pharmacies, customers of these pharmacies will automatically become users of the MediConnect’s platform.
  4. Will pharmacy customers have to acquire and hold CRS/MEDI for transactions?
    Yes. The MEDI token will be used in conjunction with the blockchain.

DLT Solution For The Pharmaceutical Industry Using Blockchain Technology.