Welcome to our latest segment: Crypto and Coffee with Chelsea. Today’s episode: Medicalchain.
Crypto and Coffee with Chelsea: Medicalchain
I had the pleasure of getting to sit down and chat with Medicalchian’s co-founder and COO, Mohammed Tayeb, today.
Medicalchain is a project based on the blockchain that seeks to solve a huge issue with patient health records. Medicalchain’s website describes itself as this:
“Medicalchain uses blockchain technology to securely store health records and maintain a single version of the truth. The different organizations such as doctors, hospitals, laboratories, pharmacists and health insurers can request permission to access a patient’s record to serve their purpose and record transactions on the distributed ledger. Medicalchain provides solutions to today’s health record problems. The platform is built to securely store and share electronic health records. By digitizing health records and empowering users we can leverage countless industry synergies.”
During the interview, Mr. Tayeb explained that the idea for Medicalchain was born when its co-founder, Dr. Abdullah Albeyatti, grew tired of the current health records system that is practiced within the UK.
On May 16th, Medicalchain announced the first steps of its application MyClinic. MyClinic.com is a telemedicine application that utilizes Medicalchain’s blockchain technology to connect patients with physicians through a secure and convenient video consultation platform. This new platform gives patients access to the best doctors around the world.
MyClinic is the first telemedicine platform that enables patients to pay with a digital currency – the MedToken (MTN). Patients are able to pay with fiat on the platform, but there is an incentive if the visit is paid for in MTN. While the medical records portion of MyClinic is still being built, patients still receive a report after their video consultation with the doctor summarizing the visit and course of treatment.
Partnerships & Collaborations
Medicalchain concluded its ICO in February of this year, and in March, the project had already sealed a partnership with Groves Medical Group. The South London-based medical group currently serves 30,000 patients and over 1,000 private patient families.
Within the next few weeks, the Groves will begin its pilot program with Medicalchain testing out the MyClinic application. This will be the first real-life test of the platform and Medicalchain expects MyClinic to be launched to the general public later this year.
On June 18th, Medicalchain also announced a joint collaboration with the Mayo Clinic. While it isn’t a partnership, Mr. Tayeb explained that it is a working relationship to explore the potential benefits of blockchain technology in healthcare.
Big thanks to COO Mohammed Tayeb for taking time out of his busy schedule to sit down and chat with me about Medicalchain.
Stay tuned for our next segment of Crypto and Coffee with Chelsea.
Featured Image: Unsplash