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An early stage blockchain technology company focused on protecting electronic health records and the flow of information between patients and their physicians, hospitals, and health insurance providers announces development of its first proof of concept blockchain.
MedChain, Inc., a blockchain technology company focused on protecting electronic health records and the flow of information between patients and their physicians, hospitals, and health insurance providers announces the formation of their company and participation in the StartEngine November 10th.
At this point, everyone and their mother has heard of Bitcoin, even though no one seems to be able to really explain it. It all seems to come back to a vague notion of this thing called blockchain, which sounds cool … but what is it? And why should we in the medical world care?
We are proud to announce an important and exciting step for MedChain!
As many of you know; a company protecting their work is essential to the value, which is why we're excited to have filed this patent application, an important step in protecting our unique, secure ePHI technology. We are proud to be leading the charge utilizing Blockchain technology solve a $6.2 billion per year problem.
For more information see our Press Release: https://finance.yahoo.com/news/medchain-files-patent-protection-175200539.html
We'll soon be ramping up our investor and follower out-reach to keep you all up to date on our latest news!
All the best,
Founder & CEO
MedChain is proud to be presenting our Regulation D offering on RedCrow for accredited investors, a platform focused on healthcare startups!
As you all know MedChain is bringing health record storage into the 21st century. Traditionally, patients’ medical records are siloed in various centralized data centers. “This means a lack of interoperability between systems,” explains our Chief Technology Officer, Steve Wishstar. “Physicians essentially have to start their patient’s entire history all over. Even if a record transfer is requested, it is reported that as many as fifty percent of patient records are mismatched during the data transfer process.”
That’s where MedChain steps in. The MedChain Network offers a globally compliant, secure blockchain storage solution for protected health information. “Each patient has a wealth of health data distributed across all of the care providers they have ever seen," Wishstar says. "With the adoption of MedChain, patients’ health records are reunited, and the physician has access to a complete history upon the first visit. Authorized hospitals, doctors, laboratories, pharmacists, and other medical professionals will be able to easily transfer data amongst themselves, and MedChain keeps track of where everything is stored and logs each and every access to that data.”
Wishstar also adds: “With data breaches costing the healthcare industry $6.2 billion per year, MedChain's application of blockchain technology minimizes the exposure of ePHI. With the recent surge of data breaches affecting hospitals world wide, MedChain technology can alleviate data concerns.” “This solution is more convenient and more secure. All aspects of healthcare rely on medical records, including how MedChain will assist with AI and machine learning on population analyses. We are improving the records themselves — we’re bettering healthcare at its source.”
MedChain is Democratizing data storage. “We understand that the current data silos do not want to give up their data — they make money monopolizing it,” Wishstar says. That’s why, he adds, MedChain recognizes itself in RedCrow’s mission to disrupt healthcare in the name of the patient: “We’re creating and incentivizing a common layer of data where everyone has access. MedChain puts the medical records back into the hands of the patient and the providers who need it, and not locked away in some corporation’s database.”
Follow us as we get ready to launch our next offering at RedCrow.
MedChain, the leading blockchain electronic health record platform is excited to announce a new partnership with the leading blockchain security protocol, Trustroot (www.trustroot.io).
This partnership will allow individuals who use the the Medchain’s platform to be fully confident in the validity of their transaction. With the high rate of fraudulent activity happening within the blockchain community, the addition of Trustroot’s verification will provide customers peace of mind while protecting them from phishing attacks, malware, and other advanced cyber threats.
Joachim Sandgaard, CEO of MedChain, said the partnership with Trustroot will give our customers increased confidence in our platform. “Given the importance of an individuals’s healthcare record, customer protection is a must, and we are excited to be partnering with Trustroot to keep our customers safe.”
Commenting on the partnership with MedChain, Shayan Zadeh, CEO of Trustroot, said: “Medchain is a great project that democratizes healthcare records for all patients. We are excited to see our technology providing more users increased safety and security for such a vital technology”
MedChain’s mission is to use blockchain technology to establish a better, more secure and transparent framework for Electronic Medical Records (EMR) that vastly improves the quality of care for patients while reducing healthcare providers’ costs. This allows companies and individuals to build software and applications within a globally compliant framework facilitating secure storage and transparency. Learn more about the project at www.medchain.global.
Trustroot is a blockchain protocol that protects individuals and businesses from fraud and theft within the cryptocurrency community. The protocol verifies the identity and trustworthiness of the blockchain business users interact with to help them avoid scams, phishing attacks, and other fraudulent activity. Learn more about the project at www.trustroot.io.
We're happy to announce that today, we have teamed with IBM Business Partner - Cognition Foundry, to capitalize on the unprecedented data privacy, security capabilities, and performance of IBM LinuxONE mainframe and Power Systems to enhance the solutions MedChain is offering to address important challenges in healthcare using blockchain technology.
Cognition Foundry enables visionaries to use extreme computing power for the good of society. They have offered a LinuxONE platform to the MedChain developers to create a blockchain and analytics solution that will very quickly grow to millions of users reliably and securely.
Providing innovative startups like MedChain access to Enterprise scale computing power benefits patients and providers alike as they enjoy the same levels of security and performance that have previously only been available to mega-corporations and secretive government agencies.
Investors and followers; After further communication with StartEngine it became clear that even if we extended our offering for another month it's unlikely the Escrow company and StartEngine would be ready to allow crypto-investments for Regulation CF offerings. We're very disappointed it couldn't get done, but understand that adhering to regulations is of paramount importance.
As the most successful security token 'pre-sale' filed as a Regulation CF offering with the SEC to date, we're excited for what the future holds... development is well underway and our CTO Steve Wishman has been busy finishing our architecture and assembling his team of developers/engineers. Some of you may have noticed a few changes to our webpage; in anticipation of our Regulation D 506(c) offering we're introducing a new look and will have our updated White Paper available in approximately 2 weeks, along with a iOS/Android Demo in approximately 5 weeks.
We're currently in touch with several potential platforms for our Regulation D offering so make sure to stay up to date at:
So from the whole MedChain Team...
Thank you for believing in us! We're excited to deliver a solution to a massive real-world problem!
Read more about our solution here: https://themerkle.com/how-medchain-will-solve-interoperability-of-medical-records-in-the-united-states/
All the best,
Founder & CEO
Investors and Followers,
We've been hard at work!
We'll be announcing some additions to our Advisory Board and will be releasing our finalized white paper in the coming days!
Please participate in this poll: https://goo.gl/forms/SG3KGx5qh3IzPoGl2 to indicate whether you believe we should, or should not, extend our campaign to allow cryptocurrency investments.
See StartEngine's commitment to making Cryptocurrency investments available for Regulation CF offerings here: https://www.businesswire.com/news/home/20180420005069/en/StartEngine-PrimeTrust-Announce-Reg-CF-Crypto-Escrow
Cryptocurrency investing will be available for our offering!
We've been informed by the StartEngine team that they are finalizing acceptance of Cryptocurrency investments for our offering!
In a goodwill effort they have waived & covered the fees associated with out Form C amendment, which we are using to give investors the opportunity to join the offering with their cryptocurrencies. We have been given a tentative data of April 20th, coinciding with their ICO 2.0 summit in California.
Short video interview with Joachim Sandgaard, Founder and CEO of MedChain:
Detailed interview with Joachim Sandgaard, Founder and CEO of MedChain(10min read):
Hello! Recently, a change was made to the MedChain offering. Here's an excerpt describing the specifics of that change:
MedChain, Inc. is extending their offering.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
MedChain followers and supporters!
Your opportunity to invest is ending!
The next MedChain offering will be for 'Accredited Investors' ONLY!
We have hired Eric Lafleche for the role of Chief Marketing Officer. As the Co-Founder of the TradeScout blockchain protocol the former Global Marketing Manager at Budweiser, the eCommerce Lead Innovation Manager at Unilever we feel that he is uniquely equipped as we move toward our accredited investor only raise. Eric also co-hosts the popular cryptocurrency podcast CryptoStarship.
We've been working hard on Minimum Viable Product development and hope to have an iOS/Android demo application available at our future events for user feedback.
We are excited to be utilizing and integrating FHIR and CDA HL7 v3 standards helping drive international adaptation in an effort to solve the problem of interoperability not just locally, but globally. The problems of health record interoperability is often amplified by borders; communication and sharing between care providers can come to a grinding halt when systems or languages differ. Moving between countries can be a disaster for people with extensive medical histories, a problem that can be eased by instituting a global interoperability solution. The MedChain Distributed Storage Network and governing blockchain will be at the forefront of innovation as we tackle US and world wide Electronic Medical Record interoperability.
Join us at the upcoming events MedChain is sponsoring:
We’re sponsoring the CU Blockchain Summit at University of Colorado Boulder and hosting a blockchain workshop for students starting to familiarize themselves with this innovative technology. For additional information visit: https://summit.cublockchain.org/
We’re sponsoring the TOKENOMx crypto-conference in Chiang Mai, Thailand which represents our first footsteps into the East Asia market, we’re excited about potential partnerships and relationships this will generate for us. For tickets and information visit: https://tokenomx.com/
We’re sponsoring the Global Blockchain Summit in Denver Colorado, be sure to get your tickets for the event while they last and come say hi to the MedChain team! For tickets and information visit: https://globalblockchainsummit.com
We will be sponsoring the Blockchain Economic Forum in San Francisco, California. Be sure to get your tickets as this event is sure to sell out! For tickets and information visit: https://bef.latoken.com/
[The following is an automated notice from the StartEngine team].
As you might know, MedChain has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in MedChain be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
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Cancel anytime before 48 hours before a rolling close or the offering end date.
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With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.