Corini Gaenariban AMA Recap
Check out MISBLOC’s most recent AMA
MISBLOC (Medical Information Service with Blockchain) is a medical service ecosystem, which is based on blockchain technology. MISBLOC offers a sustainable and efficient medical service ecosystem, by providing reliable medical information to patients, medical institutions, and public institutions in the Big Data era.
On July 13th at 12 p.m., MISBLOC held an AMA with the Corini Gaenaliban Community. We would like to thank everyone who participated in the AMA. We received a lot of interesting and informative questions from the community. Today, we’ve prepared a summary of the AMA for those who weren’t able to join the live AMA session. Please read on for more information!
1st Part: Moderator Introduction
Moderator: Hello, Gaenaliban! Today, we’re going to have a conversation with the medical service platform MISBLOC. Here with us today is Kim Do-hee, CEO of MISBLOC. Please say hello.
CEO Kim Dohee: Nice to meet you, Gaenaliban! I’m Kim Do-hee, CEO of MISBLOC. Actually, I thought this would be a typical AMA, but there are more questions than I expected so I’m a little bit nervous! Nonetheless, I’ll do my best to answer them.
Moderator: I’m sure you’ll be great! Then, Gaenaliban, please ask your questions!
2nd Part: Live Q&A Session
Question 1: What do you think about being delisted from Bithumb?
CEO Kim Dohee: Thank you for your question. I will give you an answer regarding the Bithumb delisting. MSB was listed on the Bithumb KRW market at the end of May last year after being listed on the BTC market in April. At the time of listing, the progress of the project was quite insufficient. The platform had not been optimized, and it had not been possible to secure a large enough member database.
Our team had been steadily preparing for platform improvement and efficient marketing as soon as it was listed. However, as the Special Money Act, which became a big issue in the domestic virtual asset market, came into effect around October 20, the Financial Services Commission requested a lot of feedback data from foundations listed on domestic exchanges. We did our best to prepare and submit the data accurately.
However, despite our best efforts, Bithumb determined that, according to our roadmap, 1) “The development of MISBLOC’s EMR service, 2) medical artificial intelligence research, 3) blockchain-based medical distribution system, and 4) remote treatment system were all delayed. Additionally, promised functions such as 1) hospital reservations, 2) medical care reviews, 3) point exchange, etc. on the ANAPATALK service were not working properly. Finally, the on-chain activity of the blockchain was low and the foundation’s mission was found to be insufficient.” MSB was ultimately delisted and transaction support was ended because it did not meet the criteria to remain listed on Bithumb.
Question 2: How did you feel when MSB was delisted from Bithumb?
CEO Kim Dohee: After the announcement of the delisting, our team submitted a lot of data, including more than 5 PowerPoints filled with materials and road maps, but it was ultimately delisted. We even submitted a final appeal, but it was useless. As Tarophin said, we wanted to take some kind of action against Bithumb, but there was nothing a minor company could do against such a large exchange. It was our company’s position that if we took any action against Bithumb, it wouldn’t look good to other exchanges. In fact, it might make it difficult for us to be listed on other exchanges so we decided not to take any action against Bithumb. However, regardless of the end of transaction support on Bithumb, our MISBLOC team is completing the tasks that have been planned from the beginning. We are doing our best to expand the database of the general members of the platform with the launch of MISBLOC’s ANAPATALK platform Ver. 2.2 in 2022.
Question 3: MISBLOC has been marketing very aggressively since the delisting, is there a reason?
CEO Kim Dohee: Aggressive marketing is the best way to attract new users. ANAPATALK is MISBLOC’s Dental/Medical Platform. Starting with the release of version 1.0 in 2019, there have been 6 updates and platform upgrades. MISBLOC has been working hard since early this year to establish itself as a more mature platform and secure an actual member database in the market. Due to the nature of the platform, we are conducting online marketing through various social media channels. Our secondary marketing materials include video advertisements on buses, subways, and city signs. In addition, after months of hard work creating characters exclusively for ANAPATALK, we are about to release emoticons exclusively for KakaoTalk. In addition, we run various social media channels such as the official community, blog, and YouTube account.
Actually, we do not use mainnet coins but utility coins, and we run our own Dental Platform app business. Therefore, we have no choice but to conduct aggressive marketing strategies because that is key to attracting more subscribers so that our platform can grow. Furthermore, in the second half of the year, we are planning to conduct even more aggressive marketing. We dream of becoming the number one domestic dental platform, not just another coin company.
Question 4: Is there a reason MISBLOC only provides dental services? Are you planning to expand to other service sectors in the future?
CEO Kim Dohee: The MISBLOC team has a clear vision to become the number one company in the medical Big Data industry in the future. Currently, we are in the process of doing just that. There are already a number of healthcare-related platforms on the market. Many medical platforms are already fiercely competing to become market leaders, including Plastic Surgery platform Babitalk, Gangnam Unni’s Dermatology Platform Yeoshin Ticket, Pediatrics, Internal Medicine, Insurance, and Speciality platforms MoDooDoc and DdocDoc, rare disease platform Rare Note, and non-face-to-face treatment and medicine delivery platform Doctor Now.
Our team has entered the market to become a professional platform in the dental field, which has the largest market share of a single field. We are starting from that point this year. MISBLOC is aggressively conducting online and offline marketing with the launch of its ANAPATALK Platform Ver 2.2 in the first half of this year, which will attract new patients. If the number of regular members continues to increase, we will next secure a database of 19,000 dental clinics nationwide. If members are active on the platform, we believe that the number of partner hospitals that will need advertising and promotion will naturally increase. There are already many companies in Korea that have developed into dental service companies over the past few decades. Such companies have been conducting B2B (business to business) services, and they have been in charge of connecting general patients to hospitals. The MISBLOC team is contacting companies that will create a community that treats ordinary patients as business partners, while at the same time communicating their vision of a medical Big Data business.
Question 5: There have been rumors that MISBLOC is collaborating with large companies. Are the rumors true?
CEO Kim Dohee: Since the collaborating partner we are currently working with is a large company in the dental industry, we ask for your understanding as we cannot provide a more detailed explanation of our progress as it is under a non-disclosure agreement (NDA). Through collaboration with B2B companies, MISBLOC will continue to do our best to grow into a platform like Baemin in the medical field.
Question 6: Looking at the road map, you said you would proceed with 2 additional listings. What are your plans to achieve these goals?
CEO Kim Dohee: I will gladly share the information about the listings. There are five exchanges that support trading KRW in Korea. Among them, the top two exchanges are Upbit and Bithumb. Coinone already supports the trading of MSB. The remaining two are the Korbit and GOPAX exchanges. Bithumb has said they should be able to support the trading of MSB this year, but Upbit determined that it will be difficult to proceed with the listing right now. We have therefore decided to try to get listed on global exchanges because we believe that being listed on exchanges with a lower market value than the Coinone exchange would be meaningless.
As many holders know, there are global exchanges that Korean users highly respect. We have communicated with several exchanges, and we are finishing up the final process with two exchanges. The token migration from Coinone was completed yesterday and we are planning to proceed with the listing so that transactions can be made sequentially on the two exchanges. One place is considered to be on the same level as Coinone. The other place also has a good reputation and has completed the listing review and passed the screening. I would like to tell you the name of the exchanges, but please understand that it is difficult to tell you officially until the listing has been announced. MSB has passed the evaluation stage, but please understand that it is difficult to tell you the details about the listing until it is 100% confirmed.
Question 7: If you look at the content of all the open chat rooms, it seems that MISBLOC is not just a part-time job. However, information leaks sometimes. Sometimes it seems that the part-time workers are not typing enough. My main question is, can you confidently say that the MISBLOC project is protecting its internal information?
CEO Kim Dohee: I know that our problems are being talked about a lot these days. During the delisting, a lot of people panic sold their tokens. We do a lot more marketing than other coin companies, and the traders who picked up tokens when the price was low seem to be posting a lot of good things about us now. Although there is a separate marketing department, some thought that it looked like the holders who invested at the low point seemed like our part-timers but that is not true. Regarding inside information, we have instructed our staff several times during meetings not to leak information, but it is hard to control such a large team.
Question 8: Why did you choose a dental project if you’re interested in expanding your scope to other projects? There is definitely room for improvement when it comes to ANAPATALK, so I wonder what the program manager is doing?
CEO Kim Dohee: The reason why we chose a dental project is that we know that as of this year, the number of dental hospitals nationwide is about 40,000. The total number of about 10 types of medical institutions used by the public, including otolaryngology, internal medicine, psychiatry, plastic surgery, dermatology, and pediatrics, is 21,000 clinics. However, as of 2022, the total number of dentists is 19,000, accounting for the largest pie in the medical market. Many of the medical giants are also dental companies. Based on this, we started a dental project to target the dental market.
Regarding the ANAPATALK errors, in the beginning, we held various events to attract subscribers. Unfortunately, there were continuous delays and downtime as thousands of people gathered on the same page at the same time. We did not expect such a large number of people to join that quickly. We have since replaced several server companies and are currently working on getting cloud server services. We will continue to work hard to prevent errors like that in the future.
Question 9: Medical data is very sensitive, so it’s important to follow the law. Some have said that even if the technology is developed, it won’t be very practical. I wonder if your team is willing to develop technologies using blockchain to develop a platform business between hospitals and individuals.
CEO Kim Dohee: It is true that medical data is a sensitive area because it is related to medical law. It would be a problem if the hospital actually uses this medical data without the patient’s consent, but if the patient’s consent is obtained and appropriate compensation (MSB compensation) is given before using the data, there will be no legal problems. We understand that it is difficult to explain the details simply by typing. It seems like a simple platform business now, but in the future, we are planning to conduct a blockchain-related business by strengthening the security of medical data using blockchain technology and issuing NFT certificates.
Question 10: What is the reason for switching to Klaytn, which has a lot of issues?
CEO Kim Dohee: In the case of MSB tokens, they were issued and distributed as ERC-20-based tokens. Due to the recent surge in Ethereum prices, in severe cases, the gas cost of one transmission exceeded 100,000 KRW. Even at lower prices it can be as much as 30,000 KRW.
In the case of MSB, the points received as rewards by holders through various missions in ANAPATALK can be swapped in the decentralized wallet supported by ANAPATALK and sent to an exchange. The value of the MSB token may increase through the activation of the ANAPATALK platform and the ecosystem, which secures a large amount of member data through a virtuous cycle.
In order to do this, we chose the Klaytn Mainnet, which is listed on various exchanges in Korea and has the advantage of being connected to various services of the KakaoTalk Klip Wallet. We also considered the low barriers to entry of all processes of ecosystem token use and distribution.
Question 11: Can you please explain how to use the tokens?
CEO Kim Dohee: The MSB token is the utility token of MISBLOC. Although it’s not a platform coin that provides services like Ethereum and our ecosystem is not that big yet, we plan to provide various services to compensate holders.
Question 12: EMR charts are the most basic part of MISBLOC. Can you record your EMR on the blockchain? I have migrated to Klaytn, and I would like to know where it is recorded.
CEO Kim Dohee: It is true that recording your EMR on the blockchain is very difficult unless electronic charts are produced and distributed. It is believed that it is more business-friendly and faster to utilize the EMR system that is already in use rather than to produce and distribute a new one. We are working hard to collaborate with companies already working in that field.
Although it is in the initial roadmap, it is difficult to achieve it in the current situation. That being said, we will try to apply EMR to the blockchain after faithfully carrying out the current business.
Thank you to those who joined our live AMA and asked so many great questions. If you missed it, we hope you enjoyed this recap. Please join us next time!
MISBLOC is a blockchain-based medical service platform that provides proven medical information to patients, hospitals, and government/public institutions in today’s Big Data era. It creates an efficient medical service ecosystem to satisfy all participants. MISBLOC wants to push ahead with the project quickly and effectively through close communication with medical associations, the government, and regulators. In addition, MISBLOC will attract the active participation of medical personnel and medical institutions as influencers and business operators in the medical community to present practical, useful, and feasible projects to medical service consumers.
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