[ANN] MediBloc to build its own blockchain platform and conduct 1:1 AIRDROP of ERC20 token! MediBloc Follow May 21, 2018 · 3 min read

We’re excited to announce the development of our own blockchain platform as well as the issuance of ERC20 token.

Since the very beginning of MediBloc project, our team has put our utmost effort into studying the blockchain technology as well as medical record system, and have concluded that building our own blockchain platform that is specifically designed for personal health record management was inevitable.

We had initially thought that building MediBloc platform as a Dapp using EVM (Ethereum Virtual Machine) will be most cost-efficient and most effective in securing scalability and trust as EVM is most widely used for smart contract development. We came to a conclusion, however, that MediBloc’s own blockchain platform will serve as a foundation for us to establish more efficient and solid security system of personal health records. We firmly believe having the complete control over blockchain core and MediBloc service will give us an ability to adapt and improve our product better and faster than any other projects according to market needs, where the market trends and the technology itself are ever-changing. We also expect to have the benefits of flexibility when expanding to other platforms by having our own blockchain platform.

We have finished the alpha version of our own blockchain core and are planning to open the repository of MediBloc Github with updated results by the end of this month. Our team will put more time and effort going forward to improve this blockchain platform for PHR and present high-quality product soon.

Along with the decision, our team has decided to issue our own ERC20 token(name to be determined) in order to gain access to more potential users. In addition, we expect our ERC20 token to have better liquidity as ERC20 is more widely accepted by the exchanges.

To protect the rights of MED holders, we will issue the same amount of ERC20 tokens as currently issued QRC-20 tokens and distribute ERC20 token as a free airdrop to MED holders at a 1:1 ratio. The airdrop will be based on a Qtum Blockchain Snapshot at a certain point in time. If you are a MED holder, please stay tuned for upcoming announcement and instructions and do not miss receiving ERC20 tokens.

As a result of 1:1 airdrop, the total issue amount of tokens will temporarily become twofolds. Hence, we will perform a swap at the ratio below when the Main Net is launched(date to be determined later).

1 MED(QRC-20) Token = 0.5 MED (Main Net Coin)

1 ERC20 Token = 0.5 MED (Main Net Coin)

With these swap ratios, the number of MED coin that will be used in MediBloc platform will be kept the same as the current number of MED token.

Although this decision may cause inconvenience and a slight confusion, we have decided to issue ERC20 token based on our conviction that it will give us the business agility to improve our performance in various ways.

As announced at the beginning of our project, we will stick to our roadmap and release the relevant results on GitHub. The white paper will be updated accordingly as this development affects some of the contents and will be published on our official website in near future.

Thank you for your continued interest and support for our project. We will continue to raise the bar and strive for excellence in building a truly patient-centric PHR platform.

Sincerely,

Team MediBloc

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👉🏻MediBloc Website: https://medibloc.org/