Medicohealth presenting partners: Bitins Ltd

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Medicohealth

3 min readJan 21, 2019

Here at MedicoHealth we firmly believe that cryptocurrencies are the future of the payment. With being transparent and safe, they will replace the current “fiat payment module”. Not only that, blockchain technology will enable to reward somebody on the other side of the world and transactions will be efficient, quick and safe.

One of the companies, that helps cryptocurrencies becoming the future of payments is BitIns Ltd, and it is also one of our partners.

BitIns Ltd

BitIns is a London based FinTech company and leading EU’s safest fiat to crypto exchange provider with a strong presence in Central and Eastern Europe. Their mission is to bring the ability to buy and sell cryptocurrency to the masses, simply, safely and reliably through a variety of channels like Bank ATMs, Point of Sale (POS), SMS and others. They aim to simplify the process of purchasing cryptocurrency and open it up to anyone who wishes to, rather than it being the reserve of experienced investors.

MedicoHealth platform payments

In the MedicoHealth platform, refunds will be fully tokenized and anonymous and will be performed on the blockchain. Token runs the system and compensates the service provider, platform, underlying protocol, and blockchain layer use.

The smart contract will define the relationship between a patient and a physician. Refunds will be automatically processed on the blockchain. This includes payment terms and a possibility to challenge the service quality and the payment itself. Data access and communication is already fully anonymized, but direct payments could compromise this.

Tokenization and payment to the MH allow for pseudo-anonymity and needs MH and physician to collude to breach full anonymity.

The Medicohealth Token — a powerful utility token model

MedicoHealth Platform (MHP) utility tokens are representing the access to MedicoHealth (MH) platform. They are the contribution towards better healthcare, the input to the future of the healthcare system.

However, MHP tokens are also so much more. By creating an MHP utility token, Medicohealth grants its holders access to services it is developing. Of course, early contributors to the limited supply of tokens are in a favorable position as the platform grows. The limited amount of tokens will not influence the long-term capacity of MHP token to efficiently run the platform as the service costs have to stay competitive in fiat value. Even exponential demand growth would not affect this feature.