Saturday, 3 February 2018

Are MediChain Tokens linked to the Bitcoin in value?

Questioner: I was of the understanding that since all tokens (whether backed or not) trade in pairs with btc their value is therefore inherently "linked" to the value of bitcoin.. Therefore if Bitcoin falls (most) tokens will also therefore fall proportionately, because they are coupled with btc?

Answer: Not in our case. Our tokens are locked to the US dollar during the ICO period and then floats depending on supply and demand. Because we will never create any more than the original number, as we add more data the tokens raise in value, regardless of he bitcoin.

Friday, 2 February 2018

Why MediChain Tokens will be more stable than the bitcoin

A typical buyer's concern is with the significant volatility seen in Bitcoin the last few weeks.

I had thought we were going to bounce of the recent "lows" but right now the Bitcoin and other cryptocurrency markets are plunging. Obviously, investors are going to be nervous if Bitcoin itself is plummeting that they will be buying into a severely compromised ecosystem (ie the blockchain, bitcoin, crypto) system. Any words you have to assuage these fears is appreciated.

Here is my response

That's a very good point.  Actually, the volatility of standard cryptocurrencies is what we expect to be driving sales of our tokens. The problem with unbacked cryptocurrency is that it has no intrinsic value. What you are converting that into is a token that is backed by something with intrinsic value in the real world, medical data. So even it the bitcoin falls to 0.10 cents the MCU (our token) will not be affected - its value will be staked by the value of all that medical big data we will be acquiring in our ecosystem (databases)  which will be valuable for as long as humans need to fight disease and use knowledge (or data) to do so.

Thursday, 1 February 2018

Will patients own history be available to them automatically when they start using MediChain system?

Q: Will patients own history be available to them automatically when they start using MediChain system?

A: Initially, the systems will populate their MediChain data going forwards. We will then offer services to go through past data to further populate their records, but of course, their records are, by their nature, fragmented over multiple systems so that won't just be a single push of a button in most cases.