BitMED, a global healthcare solutions company, launched the mainnet of its BXMP network and its BXM token, built on a blockchain designed specifically for healthcare. BitMED started its crowd sale for the BXM token on October 1 running through November 16; to be purchased directly from BitMED and over the LA Token Exchange. The BXM token is an opportunity to participate in the $230 billion healthcare data market immediately through BitMED’s clinical platform (BitMED Clinic) and long-term through partner solutions built on the BitMED blockchain.
BitMED Clinic offers cost-free healthcare, subsidized by the transaction of anonymous member data to trusted healthcare partners. More than 20 medical conditions are covered through BitMED Clinic, ranging from women’s health to sports medicine to mental health. This complex network of interactions is managed via the BXMP blockchain and smart contracts for performance, security, and regulatory compliance. As members utilize BitMED Clinic, they are awarded BXM tokens as incentives for utilizing the platform without the normal complexity of token exchanges.
As BitMED onboards its pipeline of more than 50 million members, ranging from individual consumers to national populations sponsored by public sector health authorities, the BitMED BXMP protocol is simultaneously being adopted by more than 17 different partners across multiple countries including Australia, Rwanda, Myanmar, Mongolia, The United States, and Kenya, establishing one of the world’s largest blockchain solutions for healthcare. This swift uptake of the BXMP protocol and rapid decentralization of the BitMED network reflects significant momentum for the BitMED approach.
“At a time when there is skepticism about blockchain and its usability, specifically in healthcare, BitMED is excited to deliver a high-performing network developed for healthcare and validated via the BitMED Clinic’s large infrastructure,” said Rishi Madhok MD, CEO and Co-Founder of BitMED. “The BitMED clinic is already a great use-case for blockchain in healthcare and we see the BXMP blockchain being the global standard on which our partners can develop new innovations.”
“The digital disruption of healthcare delivery offers tremendous potential to break apart long-standing issues around cost and access for millions of people,” said Dr. Ron Ribitzky MD and advisor to BitMED. “I am excited for the contribution that BitMED will make in this regard and therefore gladly act as an advisor for this exciting company.”
Disclosure: This article includes a client of an Espacio portfolio company