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ICO Analysis: Quantstamp

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The core ethos of blockchain technology revolves around the idea of trustlessness. Transfer of value does not need the supervision of centralized authorities, making the technology trustless. When Ethereum introduced the revolutionary concept of smart contracts, it enabled the implementation of business logic on top of blockchain. Blockchain networks are secure but smart contracts are not. Smart contracts bring in the aspect of human trust in these trustless networks. Millions of dollars worth of Ethereum can be stolen even with a small bug present in the smart contract code. The DAO attack is perhaps the best known exploit of a vulnerability in smart contract code where around $55 million worth of Ether was stolen. Once smart contracts are deployed, there is no turning back.

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So why don’t companies hire 3rd party services to test smart contract code?

They do! But security consulting companies rely on humans to check smart contract code and with millions of dollars worth of Ethereum underlying a smart contract, it really comes down to trusting that no bad actor exists in the consulting company. The process is also time consuming and expensive. The number of smart contracts are expected to grow to from 2 million in October to 10 million by end of the year. This situation is going to result in an acute shortage of smart contract auditors, while putting the entire Ethereum network at a much greater risk.

Understanding Quantstamp

The Quantstamp protocol solves the smart contract security problem by creating a scalable and cost-effective system to audit all smart contracts on the Ethereum network.

Quantstamp is ‘the first decentralized smart contract security-audit platform’.

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At the heart of Quantstamp is an automated and upgradeable software verification system that checks solidity programs submitted by the developers.
Quantstamp works similar to proof of work mining, wherein the miners in Quantstamp are called validators. The verification software is executed by all the validator nodes on the Quantstamp network. Validator node that certifies a smart contract produces a proof of audit hash and in turn, is awarded a token fee. Proof of audit is the proof that the smart contract has been audited. Using the proof of audit hash, it is easy for other nodes to verify whether the audit was performed correctly. The verification process goes through every single line of code and testing every possible scenario, hence requires a large computing power.

Since many validator nodes work simultaneously on verifying multiple smart contracts, the network can achieve scale and complexity that no other centralized system can. The verified smart contract is added to the Ethereum blockchain making it immutable and tamper proof. When requesting an audit, the developer can choose a public or private security report. Quantstamp also incentivizes skilled black and white hat hackers to manually review smart contracts through bounty rewards to find bugs that automation hasn’t detected. The software for verifying smart contracts gets continuously updated, rewarding development contributors.

The Token

The QSP tokens are used for paying, receiving or improving the Quantstamp verification services. The verification code contributors and bug finders receive QSP tokens for their services on the network. The nodes are rewarded for running the Quantstamp validation node. The contract creators pay QSP tokens to get their smart contract verified. Quantstamp also has an inbuilt governance system, where the QSP token holders vote for policy matters like code changes or selection of code contributors.

A hardcap of $30 million has been set for the crowdraise with total supply of 1billion QSP tokens. Of the total $30 million, $11 million have been reserved for the presale and $19 million for the crowdsale. The presale which began on 9th October, allows participation on a unique concept called proof of care. Investors are allowed to participate in the presale only on sharing or promoting Quantstamp. Please go through the official proof of care document here.
The token is valued at 1 ETH = 6,000 QSP for investors submitting their proof of care before 30th October. The crowdsale will take place in November. There is no need of proof of care to participate in the crowdsale, but participation in the Telegram channel in mandatory. 65% of the tokens are available to the public, while 20% are allocated to the team and advisors.

The proof of care concept has been so widely discussed that more people relate Quantstamp with proof of care rather than proof of audit. The marketing ploy is definitely unique and has generated significant interest in the project. There are already 10k + members on the Telegram channel, one of the highest that I have seen.

Team

Quantstamp has an impressive team mostly made up of current and former PhD students from the Canadian university of Waterloo. The team members bring in experience of working on code testing projects in organizations like Microsoft and Google. Cofounder Richard Ma worked as algorithmic Portfolio Manager at Bitcoin HFT Fund. His HFT trading systems had zero notable incidents in nearly a decade of reliably handling millions of dollars of investor capital. The advisors are the best part about the team. Rather than bringing in a group of advisors just for the sake of the crowdsale, Quantstamp is actually working with experienced domain experts. There are 8 advisors on board with specializations in security, blockchain, engineering, legal etc.

The Verdict

When we discussed Raiden Network, I remarked that project is something which Ethereum network needs. Quantstamp is creating a product which the Ethereum network needs urgently! The risk of bugs in smart contracts is so taken for granted that we don’t even discuss it in the risk factors for ICOs. Quantstamp has done the smart contract security audit for Request Network token sale. You can check the summary here.
Although a single audit is not enough to demonstrate the quality of the product, the team seems credible enough to manage this project. A real usecase, proof of concept, credible management, and a good hype; Quantstamp seems to tick all the boxes.

Risks:

  • The project is relevant as long as Ethereum network remains the prominent blockchain for deploying smart contracts. Newer improved blockchains might include inbuilt code verification systems or might not even include smart contracts. -3
  • The validation process is still not thoroughly tested. A hack of Quantstamp validated smart contract might result in complete loss of credibility. -2

Growth Potential:

  • As the number of smart contracts grow at an exponential rate, an automated smart contract verification software is urgently needed. +4
  • The team and advisors score well on credibility. The verification code is as good as the team, hence credibility of the team is quite important in this usecase. +2
  • Quantstamp demonstrated the concept in their review of Request Network. +1.7
  • Many projects will line up to validate their smart contracts with Quantstamp. The Quantstamp protocol is better than centralized verification processes in almost all the aspects be it cost, time period or risk. Quantstamp also has the first mover advantage. +3
  • Ethereum blockchain is still the preferred way to raise money with new ICOs launched almost daily. +1.5

Disposition

We arrive at a score of +7.2 out of 10 for Quantstamp. The high score seems justified for a project which is working towards tying one of the loose ends of the Ethereum network.

Investment Details

The presale is open. Please refer the link provided above to know more about proof of care. If submitting the proof of care is too much hassle, you can participate in the crowdsale in November. You can participate in the presale whitelist here.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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1 Comment

  1. jagrmeister

    October 24, 2017 at 11:31 am

    Review glosses over large number of risks; most importantly:

    -Investors will have some number of pre-sale buyers who bought in at 100% discount. Will lead to dumping on listing; shot-term flip risk.

    -QS will have to show its better than manual review; automation may sound good on cost-savings, but given the importance of the audit, customers may prefer going with fully manual than trusting the audit to a ‘network’. This is a long-term investor risk.

    -QS is a service, not really a product. It’s both. But how many coins in the top 100 on CoinMarketCap are service-oriented?

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ICO Analysis: Metronome

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If the ICO market has taught us anything, it’s that startups are utilizing blockchain technology to dream big. Metronome certainly fits the bill of a highly ambitious blockchain project, and one that seeks to transform the current landscape governing cryptocurrency.

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Metronome is looking to become the first platform that enables value transfers across different blockchains. In doing so, it aims to solve many problems currently plaguing the cryptocurrency market, including price volatility, a lack of portability between blockchains and slow transaction speed. Its whitepaper outlines a strategy for building a cryptocurrency around the core principles of self-governance, reliability and portability.

The project’s whitepaper does a good job contextualizing the limitations of existing blockchain technology and how, conceptually, Metronome can fix these issues. However, technical details about how the project will be implemented are lacking. (As an aside, the author felt that a 30-page whitepaper was somewhat light given the scope of what Metronome is trying to accomplish.)

If the ICO market has taught us another thing, it’s that implementation is usually the biggest concern investors have when trying to evaluate a new cryptocurrency.  In this vein, Metronome’s whitepaper reads more like a foray into new product features rather than a roadmap for implementation. A closer look at the content also reveals that Metronome isn’t really building a blockchain, but is looking to launch on Ethereum and eventually Ethereum Classic, Rootstock and Qtum.

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Token

Metronome is launching an Ethereum-compliant token called MTN. The token supply is set at 10 million initially, with 80% distributed via reverse auction. Unlike other coins, there is no fixed or limited supply.

The public ICO launches on Feb. 5 and will be open for one week. MTN’s initial price will be set at 2 ETH, which is equivalent to roughly $2,000 USD at Jan. 17 prices. The price will decrease at a tiny fraction every minute. New tokens will then be issued daily at a rate of around 2,880 MTN, which will continue indefinitely. This distribution model has raised legitimate concerns over token inflation that aren’t really addressed in the whitepaper.

The cryptocurrency will enable quick payments with settlement time ranging from 15 to 30 seconds. Mass pay and subscription features will also be used to drive adoption and utility across the ecosystem.

Team

Metronome is run by BloqLabs, which employs a talented team of blockchain developers, early adopters and venture capitalists. Co-founder Jeff Garzik was an early contributor to Bitcoin Core and champion of the now defunct Segwit2x hard fork project. Peter Vassenes also has a long backstory in the bitcoin market, even though it hasn’t always been positive (he was a key player in CoinLab, which was part of the Mt. Gox fiasco).

The BloqLab team is 15 people deep, including blockchain engineers, data scientists and a chief cryptographer (Vessenes). Six advisers are also listed on the Metronome website, along with a list of partners that includes Jaxx, New Alchemy and Smith + Crown.

Verdict

Metronome has generated a lot of discussion within the blockchain community. Whether you back the project or believe it is biting off more than it can chew, it’s tough to be indifferent. The author is putting his best foot forward in balancing out the pros and cons of the project.

Risks

  • There’s a lot of confusion about MTN’s pricing and inflation models. The project’s reverse auction is designed to limit speculators from hoarding MTN cryptocurrency. The only problem is ICOs typically attract speculators, as well as investors. With continuous inflation daily, it’s hard to evaluate what the token will be worth post-ICO. -3
  • A lack of technical/implementation specifications is cause for concern, especially for those who are on the fence about the project. At the time of writing, the project’s proposed smart contracts have not been published. -2
  • The roadmap doesn’t inspire confidence in how this project will evolve in the future. At the moment, all we know is that the first cross-chain launch on Ethereum Classic will occur sometime in Q1 2018. -2
  • The whitepaper seems to indicate that MTN only applies to blockchains that utilize smart contracts. In this sense, is it truly portable? -2

Growth Potential

  • There’s considerable demand for cross-blockchain solutions, and this will only grow as more cryptocurrencies enter the market. What Metronome is proposing to do can have a profound impact on the market. Since this section is called growth potential, a project deserves points for addressing a real need in the market. +3
  • Metronome is proposing solutions that exceed the existing capabilities of some of the world’s leading cryptocurrencies, including bitcoin, Litecoin, Ethereum and Ripple. For example, bitcoin settlement time is 10 minutes, Litecoin 2.5 minutes and Metronome 15 seconds. The cryptocurrency is entirely self-governed through autonomous contracts. By comparison, Ripple isn’t self-governing at all, whereas changes to Ethereum depend heavily upon a small team. +4
  • Competition for similar blockchain solutions appears limited at the moment. Metronome shares characteristics with Wanchain in that both cryptocurrencies are promoting inter-blockchain communication on top of Ethereum. That being said, Metronome is definitely unique in what it can potentially bring to the table. +2
  • The founders are so confident in the project and its philosophy that they are relinquishing full control of the platform after the token launch. The team will continue to support the project through development. +2.5
  • In terms of domain knowledge and experience, very few teams can compete with Metronome’s pedigree. Although there’s some controversy surrounding the CEO’s involvement with Segwit2x, it’s really not that big of a deal. Segwit2x failed because it ultimately lacked consensus. It certainly won’t be the last hard fork proposal designed to make bitcoin better. +2.5

Disposition

Taking into account the risks and opportunities, we arrive at a score of 5 out of 10 for Metronome. Prospective buyers may want to monitor the project’s technical evolution before putting skin in the game. Metronome offers a unique idea and can be a high-impact project, but still has glaring holes when it comes to implementation. That being said, there may be more to the project than the whitepaper presented. Timelines, technical specifications and clarity around pricing/inflation could easily take the score from a 5 to a 7.

Investment Details

  • Token Type: Utility
  • Platform: Ethereum
  • Symbol: MTN
  • Total Supply: 10 million
  • Available in Crowdsale: 8 million
  • Public Sale: Feb. 5, 2018
  • Payments Accepted: Ethereum

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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ICO Analysis: Zenome

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Genomics is an interdisciplinary field of science focusing on the structure, function, evolution, mapping, and editing of genomes. A genome is an organism’s complete set of DNA, including all of its genes. In contrast to genetics, which refers to the study of individual genes and their roles in inheritance, genomics aims at the collective characterization and quantification of genes, which direct the production of proteins with the assistance of enzymes and messenger molecules. In turn, proteins make up body structures such as organs and tissues as well as control chemical reactions and carry signals between cells. Genomics also involves the sequencing and analysis of genomes through uses of high throughput DNA sequencing and bioinformatics to assemble and analyze the function and structure of entire genomes. Advances in genomics have triggered a revolution in discovery-based research and systems biology to facilitate understanding of even the most complex biological systems such as the brain.

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The field also includes studies of intragenomic (within the genome) phenomena such as epistasis (effect of one gene on another), pleiotropy (one gene affecting more than one trait), heterosis (hybrid vigour), and other interactions between loci and alleles within the genome. This brief primer on genomics is a good Segway into the Zenome project.

The Zenome Project

We are now able to objectively analyze and observe the behavior of what makes DNA be what it is, exploiting totally new shores on the field, generating an enormous amount of detailed information including patterns and relations between organized molecular systems in an organic entity and biological automation on a whole new level.

According to Nature.com “Two research groups came across the phenomenon independently while studying extracellular vesicles — pieces of cell membranes that pinch off into bubbles and float away from the cells. These vesicles circulate throughout the body, but little is known about their function. The teams, led by neuroscientist Jason Shepherd at the University of Utah in Salt Lake City and cell biologist Vivian Budnik at the University of Massachusetts Medical School in Worcester, looked at mice and flies (Drosophila melanogaster), respectively.”

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Projects like Zenome allow for individual units around the world share their DNA information with a decentralized blockchain based platform, where digital representations of the DNA, under the form of accurate information, are stored, analyzed and exchanged between scientific research foundations, academic labs, hospitals and health technology programs and pharmaceutical research to mention a few.

The Token

ZNA is the native currency of the Zenome Platform, a token based on the Ethereum Network (ERC-20).

The initial pool of tokens released for the presale was 3.2 million ZNA. After the presale reached about 350,000 ZNA, the remaining tokens were burned.

The total number of tokens that will be released at the time of the main token sale is 35 million, of which 25% will be frozen for use as a reward to network participants (for example, for the provision of hard disk space or computing power). Thus, the initial supply was 3.2 million at the moment of the presale. The total supply of the token is 35 million ZNA (including burned tokens), while the max supply will never surpass 35 million tokens. At the same time, the circulating supply will not be more than 75% of the total supply, which is about 26.25 million ZNA.

As for the use of the token, it is a utility token that performs a functional role in the Zenome system, which means it is not just a speculative tool. Inside the Zenome network, a Zenome platform user could use the token to purchase genetic tests and reports, pay for genetic counselors, physicians, and health managers. In fact, you can pay for any service related to your genome, up to and including dating services.

Industrial companies, academia and research sectors will be able to purchase personal genomic data (genetic, medical, behavioral and other) based on real human individuals that are part of the network in exchange for ZNA tokens.  ZNA will be used to build a market for genomic data and any services around it.

Team

The founders of the Zenome Project are Alexey Gorbachev (Research Institute of Physical-Chemical Medicine,  whopreviously worked for Quantum, GenEra and, Institute of Nutrition) and Nikolay Kulemin with a Ph.D. in Bioinformatics from the Moscow Institute of Physics and Technology, department of molecular and biological physics (MIPT). Vladimir Naumov (Genomic Data Scientist) and Sergey Popov (Blockchain Developer) are concluding the core of the Zenome project. The team seems aptly qualified to run a genomics project of this nature.

Verdict

Until recently, the genomics industry was based mostly on speculation, using a substantial amount of animal testing experiments as “information” inputs in order to analyze a biological concept, understand it on a certain degree and determine how it might affect humans. One can readily see how this approach is limiting when it comes to studying human DNA.

Platforms like Zenome can gather “information” regarding the human DNA based on real data collected by physical labs across the globe, which will create certified digital or physical representations of our DNA. We can send this DNA information to the Zenome platform through an application and that would support the fact that this specific information is a catholic example of a specific individual’s DNA.

Zenome aims to provide individuals with the opportunity to control and even monetize their genomic information. One of the project’s core strengths is the promise of establishing equal conditions for drug treatment. It is this interplay that could make Zenome an attractive investment for those willing to learn more about the industry.

Risks

Zenome might sound like a solid project, but if you’re looking at it as an investor and only, you should consider the following facts:

  • The genome market is a brand new field not only when it comes to blockchain but also on a physical scale. There will be a very strict group of organizations that would be keen on purchasing genome databases in the near future. -1
  • A user’s personal genomic information could be exposed to companies that may try to personalize their products based on your data. In other words, there may be significant ethical issues at play in this industry. -3
  • In order to have your genomic data sent to the Zenome platform, you should visit a local lab, authorized by Zenome and experience DNA Sequencing on first hand. This may limit adoption, especially when you compare it to some of the leading DNA ancestral services on the market. (These services send the kit directly to your door and your DNA sample can be sent back via mail.) -2

Growth Opportunity

Zenome plans to hit a market cap of $70bn by the end of 2019, based on their partnerships and analysts. Previous ICO speculations showed us that this number could vary dramatically from the expectations, especially in 2018, where academic, industrial, governmental and banking money are flowing into the blockchain sphere. Below are some of the biggest growth opportunities associated with Zenome:

  • Blockchain was certainly a surprise for all of us and while some are obsessed with the monetary applications and the profitable side, there are literally 4th generation blockchain based projects that are on another level entirely. These projects could unveil the real capabilities of that new technology in almost any possible field we can think of. Zenome appears to be on this level. +3
  • Creating the next generation of drugs that target molecular-level functions is unavoidable. A project like Zenome could help us reach that potential. In other words, the project is well poised to capitalize on partnerships with the pharmaceutical industry, which is highly lucrative. +3
  • Data science technologies in combination with accurate information about human genomics certainly create a whole new concept in the sphere and that is what Zenome is working on. Eventually, health tech will start to integrate  Zenome or similar platforms will have to be established in order to understand better and most important accurately what we are made of, how we can affect our environment and how it affects us. +3
  • The team is led by domain experts in genomics as well as blockchain professionals – a rare combination that could lead to exceptional results. +3

Disposition

The Zenome platform may need some time to create a network of labs, academic partnerships and most important convincing people to do a DNA test is not that simple yet.

We know that we are rolling into an era of machines and humans integrating their intelligence and capabilities into single use cases, but Zenome might sound a little bit “Sci-Fi” for the majority of the people, causing a long curve.

Long-term investors will appreciate its value, realizing the disruption a project like this could bring along when the global health industry realizes the capabilities it offers.

A score of 6 out of 10 is reserved for Zenome, based on present facts.

Investment Details

  • Type: Crowdsale
  • Symbol: ZNA
  • Pre-Sale: Concluded
  • Public Sale: February 1st, 2018
  • Payments Accepted: ETH

Disclaimer: The writer has no position in Zenome at the time of writing.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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ICO Analysis: Medicalchain

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Medicalchain is aiming to disrupt data management in the healthcare industry using decentralization and the blockchain technology.

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Despite the world being in the midst of a data revolution, medical data is yet to catch up with other industries. From centralization, to slow speeds and vulnerable networks, healthcare systems have not evolved along with other industries.

Medicalchain is solving four significant issues with the current state of healthcare data storage.

  • Interoperability: Health data contained in legacy systems is fragmented because of varying systems and formats. There is no single version of truth which can be used and accessed by all the stakeholders.
  • Security and Fraud: Sensitive information about patients is stored in centralized legacy servers. WannaCry attack crippled the NHS with an attack on more than 230K computer systems. Medical data is sold on the dark web for almost 10x the price of credit card info.
  • Data storage: Medical data is usually controlled by a single entity which results in high dependency on that system. NHS recently lost the medical records of around 700K patients putting their health at risk.
  • Privacy control: Patients have no control over who uses and accesses their medical information.

Medicalchain’s decentralized platform enables secure, fast and transparent exchange and usage of medical data using the blockchain technology. The platform is built using a dual blockchain structure. The first blockchain controls access to health records and is built using Hyperledger Fabric. The second blockchain is powered by an ERC20 token on Ethereum and underlies all the applications and services for the platform.

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Hyperledger fabric allows access control and multiple layers of permissions which is ideal for the privacy control use case. Only the patients can access their medical data while blockchain makes it immutable to hacks and breaches.

Medicalchain is not just a platform to store and access medical data but provides an infrastructure for digital health application and services to be built on top of the healthcare database. The company is currently developing two applications to work alongside the platform: a doctor-to-patient telemedicine application and a health data marketplace. Going ahead, Medicalchain aims to serve as an ecosystem for decentralized healthcare applications. A closed beta platform will be launched in February of this year.

Token

The ERC20 MedToken will be used to access and pay for applications built on top of the Medicalchain data. When conducting telemedicine consultations (using the Telemedicine application), patients will pay the doctors using MedTokens.

Pharmaceutical organizations will pay the patients in the form of MedTokens if the patients provide them access to his medical history using the marketplace application.
Users will use MedTokens for a variety of other applications and services that will be developed on Medicalchain’s platform.

Team

Co-founder Dr. Abdullah Albeyatti created an application called Discharge Summary in 2016 to generate accurate medical reports on patients, before they are discharged. He created these frameworks to create standardization in medical reports. Discharge Summary is being used in 3 hospitals in the UK. Discharge Summary is a very small component of Medicalchain, and contrary to many claims, it would be inappropriate to suggest that Medicalchain is being tested in 3 hospitals.

The other Co-founder Mo Tayeb is a tech entrepreneur and has previously founded technology, finance, and e-commerce companies.

There are 13 members in the team with extensive experience in healthcare and tech.

Medicalchain has eight advisors which include healthcare professionals and blockchain specialists.

Verdict

Medical error is the third leading cause of death in the United States; add to it the woes faced by NHS in 2017, we can conclude that Medicalchain is working on a real problem which needs immediate solutions. The team looks solid with a mix of both healthcare and technology.
Medicalchain also scores well on the hype factor, with more than 10K members on the Telegram group a couple of weeks before the ICO.
But as with any industry with solid blockchain use case, there are many current and upcoming projects competing with Medicalchain.

Medicalchain vs. competition?
The most well-known project in this space is Patientory. Patientory differs from Medicalchain in 2 major aspects. Patientory is primarily focused in the US, while Medicalchain has global ambitions. After initial testing in the US and the UK, Medicalchain will expand in other geographies in this year itself. Another major differentiator is that Medicalchain follows a bottom-up approach, where they plan to integrate patients and doctors onto the platform and then make the platform functional using the Telemedicine application. Patientory follows a top-down approach and is trying to partner with establishments, hospitals, healthcare organizations. We have a favorable view of the bottom-up approach, as it makes the project less dependent on partnerships and can be readily operational.

Medibloc is another platform operating in the same sector. Medibloc is based on Qtum while Medicalchain’s data layer is based on hyperledger fabric, which we feel is more suitable for this use case. We also think Medicalchain’s team more capable than either of these projects.

Overall Medicalchain is a good project on the conceptual level, but some concerns start to emerge once you think about executing it on scale. We will discuss some of these concerns in the Risks section.

Risks

  • The team will have to interact with multiple entities including the doctors, patients, pharmacies, insurers.
    Bringing all these entities on board and convincing them about the potential benefits won’t be an easy task. -2
  • Interacting with the regulatory authorities of each region will have its own difficulties. Each geography has its specific laws and regulations when it comes to medical data. E.g., in the US, the patients do not necessarily own their medical data, the hospitals and the clinicians have the right over it. The UK has a central healthcare database, but Medicalchain will need to extract data from the UK’s central servers which are based on subpar technology. -3
  • Medicalchain is expected to face significant competition in the future. Tech giants like IBM are actively exploring blockchain solutions for the healthcare industry. IBM recently collaborated with major insurers in India for blockchain solutions. -1

Growth Potential

  • The project fares better regarding the team, roadmap, and vision against the existing competition. Co-founder Dr. Abdullah Albeyatti has been working in this direction since 2016. +5
  • There is a significant growth potential for blockchain solutions in the healthcare industry, especially in the Healthcare data segment. Considering the issues that NHS had to face in the past year, UK seems like ideal geography to begin operations. +4
  • Medicalchain is also creating an application layer to build medical applications. The Telemedicine application and the health data marketplace differentiates it from other similar services and will create a pathway for future healthcare applications to be launched on the platform. +3

Disposition

We arrive at a score of +6 for Medicalchain. The score captures the growth potential of the project but also incorporates some execution level concerns.

Investment Details

  • Token Type: Utility
  • Platform: Ethereum
  • Symbol: MEDTOKEN
  • Pre-sale: Sold out
  • Public sale: 1 February 2018
  • Initial value: 1 MEDTOKEN = 0.25 USD
  • Hard cap: 24,000,000 USD
  • Total Tokens: 500,000,000
  • Available for Token Sale: 35%
  • Website link: http://medicalchain.com/
  • Jurisdictions Barred from Participating: U.S

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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