What is Docademic (MTC)
Docademic is an international medical platform in which people with smart phones can meet with a doctor through their phone’s camera and receive medical advice. The platform stores its data on a blockchain and requires the MTC token to retrieve data from the blockchain.
What problem does it address?
Healthcare is expensive and can be hard to access, especially in isolated regions. Additionally, sensative medical records stored in conventional databases are vulnerable to hacks and misuse.
What is their solution?
Docademic offers 2-3 free medical assistancse every month to anybody with an updated Docademic profile. Users can video chat with a doctor using their 24/7 platform. To interact with a doctor, a patient only needs a smart phone with a camera and an internet connection. Docademic offers a service for patients to quickly contact a doctor, whereas in some regions in the world, live doctors are unavailable, too expensive, or too far away geographically to reach.
By storing data on the blockchain that can only be accessed with the MTC token, medical records are safe from hackers, and data can be observed while keeping identities anonymous.
What is the point of the token?
The MTC whitepaper states that the three main functions of MTC are to 1) pay for products and services on the Docademic platform. 2) Be the currency that interacts with the blockchain that stores patient and healthcare data. 3) Be a tradable token on the open market
Docademic uses a cryptocurrency instead of a fiat currency because MTC has no borders and is easier to accept internationally than several different fiat currencies. Additionally, MTC does not require a third party to process transactions, which means that sending MTC should be cheaper than fiat alternatives and there is no way to censor a MTC payment. Also, MTC is programmable, meaning that it can interact with smart contracts to trustlessly unlock data in a blockchain.
How does it work?
- Docademic’s free video telemedicine app service provides an accessible on-ramp to healthcare services. Health Organizations direct which information should be sent to the blockchain.
- The data is stored in the blockchain. Third parties will not be able to identify what data belongs to which patient’s identity, so the data is anonymous. However, a patient can share their private key to reveal which data belongs to them if they wish. Transactions are completed and uniquely identified.
- Healthcare Organizations can query and study the data within the blockchain with a payment of some MTC.
- Patients can share their own data and receive MTC in return for that data.
Docademic excites BlockWolf because it will help create accessible healthcare solutions internationally and it incorporates a cryptocurrency. The app is still in its early stages but it looks promising in that it could actually be able to connect patients with doctors throughout the world. Docademic uses the MTC cryptocurrency so if Docademic succeeds, it would be a great story for cryptocurrencies and for cryptocurrency adoption.