What Makes MediChain Better Than The Rest?

In this article, I will be doing a comparison of MediChain with MediBloc. I am doing this so that potential investors can have a better benchmark of what potentially MediChain can be worth when it gets listed on the exchanges. I believe that MediBloc is probably one of the closest competitor of MediChain and while MediBloc have completed their ICO earlier, it does not mean it is necessary better. I would like to explain why MediChain is better than its competitor MediBloc. Let’s look at their operating models and technology. 

The MediBloc model is that doctor and patients get rewards for sharing data on the network. The more you share the more rewards you get. Patients can then use these rewards to pay for medical services with providers that have partnered with MediBloc.  

MediChain refers to itself as a “big data medical platform”. Each token on the MediChain block represents some patient data. These blocks will be anonymised and sold on a marketplace. The companies buying them will need to purchase the MediChain token to participate in the marketplace.

The multibillion dollar turnover electronic health records (EHR) industry is an old industry. The largest company in the industry was founded 35 years ago and is valued at $20 billion. For a start-up, competing with an established company with greater resources would be fatal. MediBloc will be in more direct competition to the existing EHR providers than MediChain.

MediChain has moved quickly to establish partnerships with existing EHR providers. The company sees them as partners and not competitors. MediChain places a big emphasis on big data technology. Big data technology is where it feels that it can add value to existing pharmaceutical companies, healthcare systems, researchers and insurers and existing EHR providers. MediChain is more than a system for storing medical data on. It provides big data technology to these existing providers. This is an area where MediChain shines. Rather than fight a uphill battle against existing players who have huge warchest, MediChain is going to create value for them, while benefiting users who are patients. 

Pre ICO MediChain has already been in talks with UK NHS projects and specialist departments including Rheumatology, Alzheimer's, Epilepsy as well as a major provider of Electronic Records Systems and major US research institutes in Heart Disease, Alzheimer's Disease, Blindness, Arthritis and Cystic Fibrosis, and expects to announce over a dozen collaborative big data programs with major institutions from Q2 2018 onwards.

By establishing these relationships early on will make it difficult for the likes of MediBloc to enter the space. It has first mover advantage despite not ICO earlier. Partnerships are golden in business and MediChain has proven that it is able to do that.

The partnerships will also provide MediChain with the initial big data, but this data won't be accessible to patients (it's the anonymized data that will be used for medical projects and research in the future). They will also be using the funds raised from the ICO to fund more projects and collaborations to get high quality data to 'seed' the database.

This will also be an advantage for MediChain. MediChain intends selling this data through a marketplace that makes use of the MediChain token MCU. A large dataset that it can sell fairly quickly means that it will be off to a head start.

When it comes to technology MediChain will store some data on and some data off the block-chain. This will be an advantage for MediChain as this will improve speed and performance while still maintaining privacy and security.

Another factor that makes MediChain better is that it will make use of a Smart Card system. This system will have different ways for ensuring the right people get access to the information stored. 

Do check out MediChain website and read their whitepaper too.