MediBloc, was launched in 2017 by a team of qualified doctors in collaboration with experienced entrepreneurs and talented developers. Dr. Allen Wookyun Kho and Dr. Eunsol Lee are the co-founders of the South Korean company. They are healthcare professionals with experience and numerous achievements in medicine, as well as software engineering.

Allen Wookyun Kho holds a Bachelor of Science from Korea Advanced Institute of Science and Technology, a Master in Computer Science from Columbia University (New York, US), and a Master of Dentistry from Kyung Hee University (Department of Dentistry). Kho is a former lead software engineer at Samsung Electronics where he was deeply involved in the Galaxy S software development process.

Eunsol Lee holds a Bachelor of Medicine from College of Medicine, Hanyang University, and a Master of Medicine from College of Medicine, University of Ulsan. Lee specializes in radiology and biomedical informatics and has an impressive track record, including being a developer at NEXON, a radiology specialist at Asan Medical Center and a public health doctor. Lee was a former member of the Presidential Committee on the Fourth Industrial Revolution (PCFIR), and a representative of the Special Committee (Digital Healthcare) under the PCFIR.

MediBloc's main goals include building a patient-centric health data platform, empowering data and encouraging users to maintain a healthy lifestyle. The project aims to revolutionize the healthcare sector by becoming a unified real-time patient database. The decentralized platform brings together patients, healthcare providers and medical researchers. The patient is the ultimate owner of his or her own health data, records, treatment history and more.

Data loss is prevented by backups, and only reputable medical institutions and trusted healthcare affiliates are allowed to make changes. Additionally, the blockchain system provides an increased level of network security, minimizing risks such as fraud and data hacking.

According to the protocol, this will minimize redundant data, ensure streamlined treatment, efficient medical care and greater accuracy of diagnoses. The platform provides an objective incentive system, where all contributors (data owners) are rewarded in MED tokens.

MED is a native utility token of the MediBloc platform. It’s required for storage payments, insurance payments, and transactions. MED is also used to reward users who have contributed to the growth of the MediBloc ecosystem.

In terms of tokenomics, the distribution of tokens is as follows: 50% to participants of the ICO; 20% to the team; 12% to development; 10% to investors and advisors; 8% to research.

Launched in December 2017, MED was originally deployed in the Ethereum ecosystem as a decentralized application (dApp) running on the Ethereum Virtual Machine (EVM). In 2018, MED was re-released on the Qtum blockchain, then the project moved to Cosmos through the Cosmos Software Development Kit (SDK). In 2019, the decision to formulate and launch its own mainnet was announced.

The platform operates on the Delegated Proof-of-Stake (DPoS) consensus algorithm, an evolution of the fundamental concepts of Proof-Of-Stake (PoS). DPoS is one of the most energy efficient models, providing network security through the approval voting of delegates.

MediBloc (MED) is available for purchase on the following crypto exchanges: Bithumb, Bittrex, Gate.io, Osmosis, Upbit, Korbit, and more.

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Read about Solve.Care (SOLVE) and DOC.COM (MTC) — other blockchain projects in the healthcare sector.

Check out Cosmos (ATOM).

What are dApps? Learn more with CMC Alexandria.

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