The Importance of ICO Launches in Healthcare
Blockchain technology opens a range of opportunities for companies and entrepreneurs worldwide to store, share, and exchange all types of data. With its growing popularity, blockchain is widely used in various sectors, as it provides transparency, personal security, and accessibility for stored information.
In healthcare, the issue of data accessibility is highly relevant. Hospitals have been providing patient information using centralized platforms, which has caused difficulty in sharing data with other doctors or healthcare institutions. Therefore, blockchain technologies are now widely used to increase the efficiency of the medical industry.
The implementation of blockchain platforms enables the development of personal data ecosystems for patients, doctors, researchers, and all types of medical organizations. The benefits of ecosystems like these are obvious. By providing medical data ownership to individuals, it is possible to:
- keep safe and transparent records
- provide easier access to healthcare information
- avoid data forgery
- avoid data silos
- process payments quickly and securely
New platforms launched in healthcare provide not only applications for patient-doctor communication, but also fundraising, insurance, and payment options that increase productivity in all healthcare sectors
TOP ICOs Launched in Medicine
To evaluate the best ICOs launched in healthcare, it is necessary to analyze the key components:
● Technical aspects. The concept should provide benefits within blockchain functionality, like decentralized and secure data storage. The company has to develop a strategy to become part of a healthcare consortium and figure out a way to exchange data in a secure manner. There are various business and technical challenges involved having to do with compliance and willingness to exchange information.
● Token implementation. A successful ICO campaign needs to state token necessity, describe how it can be used in the project, and clarify whether it can be traded later for another cryptocurrency.
● Funding. There should be a well-thought-out plan for funding and token distribution. It’s important to ensure investors’ security and credibility while running an ICO project. It is also essential to analyze whether smart contracts and bounty campaigns have been released.
● Roadmap. A well-written roadmap is another determinant of a successful ICO. Clear and specific deadlines should be set, as well as a complete budget and marketing plan. It is also important to evaluate SMM activity.
● Team. Team members should be highly qualified and reputable. It is also important to have previous successful work experience.
In accordance with the key components of the best ICOs, five of the best launches are outlined below. They all have decent product vision, experienced team members, and a well-structured white paper and roadmap, all sections of which are complied with.
The first on our list, with the highest score, is BCharity. Highly relevant in today’s community, it has one of the best product presentations. It holds first place due to the best-developed white paper, high social activity, and numerous offered benefits.
Technical aspects. BCharity is an international charity exchange that uses the blockchain platform to bring together charities worldwide. This organization allows charitable foundations, as well as people in need, to share their challenges and provide solutions. Conceived and executed at the highest level, the platform allows anyone to contribute to charities. What’s more, implementation within blockchain provides enhanced financial data security. Using this platform enables immediate communication without pending requests, which saves a lot of time.
The white paper is precisely structured: it features the main issues and their solutions, provides full product information, and shows market opportunities.
Token implementation. BCharity CHAR tokens are based on the Ethereum ERC20 Standard and follow a deflation model. Investors can purchase them with BTC, ETH, LTC, ZEC, XRP or XMR. Cryptocurrency is implemented to make donations in the BCharity ecosystem. In case the ICO does not raise the minimum amount of funds, it promises a full refund.
Funding. The organization will issue an amount of 100,000,000 CHAR tokens. 5% will be available in private sale (1 CHAR = $0.35), 10% in pre-sale (1 CHAR = $0.5), and 85% in the main sale (1 CHAR = $1).
There is a high number of incentives offered by the company. They give bonuses from 4% to 25%, depending on purchase date; and 3%-25% depending on the number of purchased tokens. The bounty campaign provides discounts from 15% to 35%. This demonstrates the company’s highly-developed efforts and very responsible attitude toward the problem.
The roadmap illustrates the main steps of the ICO process, including careful market analysis, PR campaign launch, token sales, beta version presentation, expansion of the company’s staff, full product presentation, mobile application development, and geographic market expansion.
Team members are all experienced and qualified in blockchain technology, with innovative product vision.
The project is very promising and precisely thought through. Let’s hope it meets its goals to make the world a better place!
Medicalchain meets all the requirements of a successful ICO. It holds second place, with a well-positioned product vision and a great team! The ICO has already ended, and succeeded in raising $24 million. The ICO and product rating are somewhat lowered, as the idea isn’t unique.
Medicalchain is a decentralized platform to open and store electronic health records access with patients and medical professionals. This will enable direct, secure communication between parties to schedule consultations, share opinions, or edit records. The key is not only to access personal data from any part of the world, but also to get immediate access.
The platform allows the sharing of personal medical records in any country or hospital. In addition, pharmaceutical or insurance institutions can interact with these records on the patient’s terms, providing a full picture of a patient’s illness history and increasing efficiency in diagnosis and treatment solutions.
Technical aspects. Medicalchain is built on a dual blockchain structure using Hyperledger Fabric and powered by an ERC20 token on Ethereum. To ensure privacy, health records are encrypted using symmetric key cryptography. The white paper provides a well-structured product vision, technical explanation, system benefits, token utility, and cost impact analysis. The information is stated very comprehensively, and provides the whole picture of the working process.
Token implementation. The price of a MedToken was set at $0.20, with a 50% bonus in the pre-ICO campaign. Investments accepted BTC and ETH. MedToken enables users to get telemedicine consultations and patient and clinician benefits, and to control health data information. Moreover, the patient provides access to insurance companies in return for incentivization with MedTokens.
As for funds and token distribution, Medicalchain is a capped sale that has raised $24,000,000, with 500 million tokens issued. 35% were offered in the crowdsale, 34% retained by the company, with 31% left for community development.
The roadmap sets specified timelines and development stages between January 2016 to March 2019. The company first started development in cardiology, then launched its website and released the Medicalchain prototype. It moved on to releasing mobile apps and a doctor/patient communication platform. In June 2018, it is planning to establish direct connectivity in European hospitals; then, in August, to issue smart contracts for researchers and insurance institutions. The next step will be the platform rollout of pharmacies and doctor practices.
Team. Another highly beneficial factor in this ICO is its strong team. All members are highly qualified, and CEO representatives have significant experience in the medical industry. This proves their competence in the subject they are dealing with. The business development team has a successful history in their previous projects, as well.
Skychain is an infrastructure project that provides full access to artificial neural networks. It has an outstanding ICO profile and a strong, reputable team. The project is essential to the development of medical competence. It deals not only with healthcare, but also with artificial intelligence. That is why its product rating takes third place.
Skychain’s goal is to grant resources to doctors and medical professionals in order to help them set accurate diagnoses. The idea is to allow each ecosystem member to benefit from their resources, and to further accumulate a wide range of neural projects to train and educate competitive professionals in the medical sphere.
Technical aspects. Based on the blockchain platform, Skychain provides secure interaction between network participants to conduct global coin transactions, request network training, publish results, and change or update information according to topic.
Token implementation and funding. A total of 36 million tokens will be issued, with the pre-sale price set at 1SCH = $0.5 and the crowdsale price set at 1 SCH = $1. Skychain will use the collected funds to develop and promote the ecosystem in the medical community. Furthermore, SCH tokens will be exchanged for internal cryptocurrency.
The company roadmap covers the token sale stages followed by alfa and beta tryouts, and the Skychain release.
Team members have between 6 and 12 years of experience in the technological sphere, which is beneficial to product development. All advisors hold medical and scientific degrees to guide and support the project.
This ICO profile is very strong, as the main purpose of the project is to deal with life-threatening diseases. The team is also one of the best aspects of the project. TrustedHealth takes fourth place because the white paper needs some improvements for better comprehension. Additionally, the product rating was lowered because, in the opinion of many, all consultations should be free.
TrustedHealth offers a range of advantages in the medical sphere, as it deals with life-threatening cases. The ICO offers a patient-doctor cooperative to:
- find the best diagnosis methods
- increase the patient’s health outcomes
- ensure worldwide data accessibility.
It is not a secret that many healthcare systems are somewhat slow. Blockchain provides a decentralized, transparent platform for patients and medical workers to communicate, exchange case-relevant information, and unify the general healthcare experience. Through coordinated research, it is much easier to help patients, share expertise from any part of the world, and get consultations with different specialists.
Technical aspects. Based on the blockchain platform, the decentralized digital data-storage system ensures reliable and secure connection with better speed and access. Transactions within the system are transparent and audited. The white paper illustrates product efficiency, states relevant challenges and solutions, and highlights the company’s values and the advantages of blockchain use. It might need some improvements: more charts and infographics, for instance, for better comprehension. Some experts argue that it would be better if all consultations were free, as this would better promote product vision.
Token implementation and funding. Based on Ethereum, the token TDH price is set 0.00006 ETH. 50% of tokens are distributed to crowdsale contributors, 30% to team members, and 20% is left for project development. TrustedHealth offers crowdsale incentives and bounties. Participants in the TDH limited crowdsale get a chance to choose diseases to add to general list. To do so, it is important to obtain a higher number of TDH tokens and an Ethereum wallet address. Moreover, depending upon the number of TDH tokens purchased, crowdsale contributors will be awarded premium health access accounts like Healthpass, Healthpass+, or HealthControl as a bonus. These grant personal patient assistance and guidance, access to premium services, and priority passes.
Roadmap. The project is moving forward by complying with a set of milestones. It is in the development stage. So far, the company has enlisted approximately 80 doctors from more than 40 medical institutions worldwide. There are more than 250 patients trying out the system. The company has also presented their platform to the World Health Organization.
Team. This is one of the strongest sides of the project. Team members and advisors supplement each other to coordinate a competitive campaign. They include well-trained medical experts and tech-savvy representatives in the business development sector.
5. Tag World Exchange
Tag World Exchange also boasts an outstanding ICO profile, with qualified team members and a strong product vision. It takes fifth place, as it is not directly connected with healthcare. Still, it is important to highlight this ICO, as it offers an opportunity to invest in other medical projects. Token implementation is well positioned, and tokens can be acquired in various cryptocurrencies.
Technical aspects. Based on the blockchain, it provides full transparency, liquidity, legally-approved sustainability, and a properly approved investment structure. Tag World Exchange helps creative startups reach their potential. It is a new cryptocurrency fundraising platform that invests in businesses (healthcare, as well) and supports them in company development. The project’s white paper outlines the main goals in the creation of a unique ecosystem that enables users to buy and trade their investments safely.
Token implementation and funding. Built on Ethereum, the platform allows financiers to invest funds in TWEX tokens, which are independent of inflation and based on the world economy. TWEX tokens are proof of investors’ membership, and are used to invest in registered companies and use platform services like financial reports, SMM, or technical support.
14.74% of tokens are allocated to the team members. These tokens are used to incentivize members for their work and achievements.
84.56% are allocated to crowdsale investors. With the active contribution of participants, the funds will be used for project development purposes, such as marketing promotion and platform release.
0.70% are allocated for the bounty campaign. Tokens are awarded for auditing smart contracts and testing the product to identify possible defects.
The number of tokens to issue equals 80 million euros. The starting price is set at 0.30 EUR, in the pre-sale period as well as in the crowdsale.
The Tag World Exchange roadmap highlights the main steps, from issuing the white paper and conducting token sales to releasing the hardware wallet.
Team. Providing direction and guidance to the organization, the management team is highly competent and globally distributed. The main benefit is that all members have superior leadership skills and advanced work experience.
To sum up, it should be stated that there are many different ICOs worthy of attention. We have discussed the TOP 5 according to their ICO profiles, team and product vision, technical aspects, and documentation development. Though Tag World Exchange and Skychain also deal with other spheres, they have a significant impact on healthcare development and should be considered, as well.
This article is based on research conducted by Applicature.