MedXchange :: The Blockchain-Enabled Marketplace for the $340 Billion Medical Supplies Industry

balbirbit786 (25)in #cryptocurrency • 7 years ago

MedXchange

MedXchange is a blockchain-based system to democratize the global medical device industry. The platform will disintermediate the medical device and supplies ecosystem and make it more efficient. MedXchange comprises a platform to facilitate and secure the global exchange of medical devices,

supplies and payments, lowering ultimate patient/customer or insurance cost and increasing efficiency. While the system will initially be focused on the medical device industry, it will be sufficiently flexible and scalable to add other categories of regulated health care ecosystems, such as pharmaceuticals, laboratory equipment, and services.

Our platform is backed by proprietary, innovative use cases and real world businesses, in addition to our own proprietary cryptomining operations. Transactions on the system will be supported by MedCash (MEDCASH),

an Etherium based (ERC-20) token used by users on the MedXchange platform as the exclusive cryptocurrency to conduct transactions, both in-country and globally.

MedXchange

The medical device industry is under major financial distress, in the United States but also globally. Many countries around the world are facing the same intensifying costs of medical devices and supplies and health care in general, as the United States and other countries are trying to address costs by reducing reimbursement rates,

establishing price caps, requiring mandatory price reductions, using diagnostic related groups (DRGs), and limiting funds available for medical device purchases. With steeply increasing medical device costs, a secure solution for transparency and cost savings can have a massive impact on society.

Why makes MedXchange/MedCash Unique?

First, MedXchange is not being created in a vacuum. MedXchange has existing agreements Sell-side medical device manufacturers. The use cases flowing from these include two proprietary medical devices that represent a potential universe of millions of Buy-side Users (end users / consumers) globally,

representing a potential opportunity for Billions of transactions/payments annually using MedCash (MEDCASH) over a 10-year period.

MedCash(MEDCASH) Token

There are several benefits to establishing a new token. Due to the strict regulations around privacy and security in the global medical device industry, certain processes and data sharing capabilities will need to be run on a dedicated Blockchain system. As such, there would be several interoperability issues if another currency is used.

Other currencies, such as Zcash or Etherium, would not be able to function appropriately with a HIPAA-compliant system and medical devices to achieve its maximum value due to its openness and lack of governance.

RoadMap