MediBloc (MED) is a South Korean-based decentralized blockchain protocol for the healthcare industry through which medical institutions can securely transfer, collect, store and manage data. With MediBloc, physicians can access patient information, medical history, prescribed medication, insurance issues and more. MediBloc makes medical data more accessible by allowing everyone involved to track and record medical conditions, appointments, examinations, treatments and more.
The ecosystem is built on three key elements: MediBloc Core (a layer for storing data and providing additional storage), MediBloc Application (a layer for accessing and managing data through various applications), and MediBloc Service (a layer applying smart contract technology that connects the other layers and allowing input and output of data).
The platform offers three categories of accounts: for general users (patients), healthcare providers (doctors and medical institutions) and data scientists, the latter two require proof of their accreditation. The project is aimed at improving the quality of medical services and infrastructure by optimizing information storage processes and giving users sovereignty over their own data. MediBloc is compliant with the HIPAA Security Rule, the Health Insurance Portability and Accountability Act.
## Who Are the Founders of MediBloc (MED)?
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.
## What Makes MediBloc (MED) Unique?
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.
MediBloc (MED) is a decentralized blockchain protocol in the healthcare industry in South Korea, dedicated to securely transmitting, collecting, storing, and managing medical data. The ecosystem consists of three key elements: MediBloc Core (the data storage and additional storage layer), MediBloc Application (the layer for accessing and managing data through applications), and MediBloc Service (the layer applying smart contract technology to connect and allow data input and output). The platform offers three types of accounts: regular users (patients), healthcare providers (doctors and institutions), and data scientists, with the latter two requiring authentication. The project aims to optimize the information storage process, enhance the quality of healthcare services and infrastructure, and ensure users' data sovereignty.
How to Buy MED
1. How to Buy MED on Exchanges
Step 1: Choose a reputable exchange platform
Select a trustworthy platform from numerous exchanges to make your purchase. Some trusted platforms include Coinbase, Binance, OKX, among others.
Step 2: Register an account
Create an account on the chosen exchange platform. You may need to provide personal information (such as phone number, email) to complete the registration process.
Step 3: Complete identity verification
For security reasons, some platforms may require you to undergo identity verification. Follow the platform's instructions, providing necessary identity information (such as country/ID number) and undergo facial recognition if prompted. Once your identity is confirmed, you'll receive notification.
Step 4: Link your bank or payment method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing MED.
Step 5: Purchase MED
Find the option to buy coins on the exchange platform, select the C2C buying process, then input the amount of cryptocurrency you wish to purchase. Typically, you'll choose to buy USDT first and then proceed with the purchase method. Simply place your order, make payment to the seller, and you'll receive the cryptocurrency. Once the payment is completed, you can use your exchange assets to buy MED.
Step 6: Store your MED
After purchase, you can choose to store MED in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Tips
To protect your exchange account and MED assets, it's essential to use strong passwords and enable two-factor authentication.
How to Buy MED via Over-the-Counter (OTC) Trading
Over-the-counter (OTC) MED trading occurs directly between buyers and sellers, bypassing exchanges or other intermediaries. Here are the general steps for OTC MED trading:
Step 1: Find an OTC trading channel
Start by finding a reliable OTC trading platform or service provider. These platforms typically offer online marketplaces or ways to connect with brokers for trading.
Step 2: Register an account
Sign up for an account on the chosen OTC trading platform. You may need to provide some personal information (phone/email) to complete the registration process.
Step 3: Complete identity verification
For security purposes, some platforms may require you to undergo identity verification. Follow the platform's instructions to provide necessary identity information (nationality/ID) and undergo facial recognition or other verification steps.
Step 4: Browse the trading list
After logging into your account, browse through the platform's trading list to find MED trades that interest you. You can choose trades based on the trader's reputation rating, trade volume, price, and payment methods.
Step 5: Select a trading partner
Once you find a suitable trade, click to enter the trading page and carefully review the trader's terms and conditions. Ensure you understand and agree to the trader's requirements, such as trade amount, payment method, trade time, etc.
Step 6: Negotiate trade details
After reaching an agreement with the trader, you can negotiate trade details such as trade amount, payment method, trade time, and location.
Step 7: Make payment
According to the agreement reached with the trader, use the chosen payment method to pay the MED purchase amount to the seller.
Step 8: Confirm receipt
Once the trader confirms receiving your payment, they will release MED to the MED address you provided. You can check your MED wallet balance after the trade to confirm its success.
3. How to Buy MED through Decentralized Exchanges (DEX)
Buying MED on decentralized exchanges (DEX) differs from purchasing other cryptocurrencies on centralized exchanges. Here are the general steps for buying MED on DEX:
Step 1: Choose a MED-supporting wallet
Create a new wallet supporting MED assets, then select a decentralized exchange that supports MED.
Step 2: Connect your wallet
Before using the DEX, you need to connect a wallet supporting the MED blockchain. You can connect your wallet to the selected DEX via browser extension or mobile application.
Step 3: Deposit funds
In your wallet, select deposit and choose the asset you want to deposit (such as stablecoins). Follow the wallet prompts to complete the deposit process.
Step 4: Find the trading pair
Search or browse for the MED trading pair on the DEX. Typically, you can find a search box or a list of trading pairs on the exchange's homepage or trading interface.
Step 5: Place an order
Once you find the MED trading pair, you can choose between market or limit orders and input the quantity you want to purchase. Ensure you input the correct price and quantity in the order, then confirm the order.
Step 6: Wait for the trade to execute
Your order will be submitted to the MED blockchain and wait for confirmation and execution by miners. Once the order is executed, you will receive the purchased MED, which you can view in your wallet balance.
Step 7: Withdraw funds
After completing the trade, you can choose to withdraw the purchased MED to your wallet for safer storage of your digital assets.
4. Official Channels for MED Project Team or Community
Sometimes, the MED project team or community may launch official channels for direct MED purchases. This may include private placements, presales, or other forms of direct sales.