BloodChain - ICO Review

Researchers and blockchain developers continue to come up with new use cases for blockchain technology, which already appears to offer limitless potential. While a lot of it still remains untapped — whether due to the fact that blockchain is still in early stages, or other reasons such as skepticism or lack of regulations — new potential use cases are still emerging.

So far, blockchain had shown potential to change nearly every industry out there, from gaming and gambling to finances, healthcare, and beyond. Healthcare is particularly in need of a technological overhaul, as even the modern-day technology is considered heavily outdated.

So far, there were numerous proposals on how this technology could help improve the industry. As a massive data storage, the blockchain could keep patients' records safe, and allow them to choose who can view them, and what they can gain access to. It can be used for storing medical research and connecting the entire healthcare industry. As revolutionary as these concepts sound, they are still only the tip of the iceberg, and many other usages of blockchain have already been proposed. One of the more interesting ones came from a project called BloodChain.

About BloodChain

BloodChain is a project that aims to create BloodChain cooperation network for new blood donation platform. All registered stakeholders would be beneficiaries, while the platform itself would be focused on cooperation with blood collecting organizations, public healthcare, as well as private organizations and units.

The platform would prove extremely beneficial for all stakeholders, which would include blood donors, patients, and even companies and organizations that support blood donation. Simply put, the main objective of the project is to unite those who are willing to give blood and those in need of it, as well as those who simply support the blood donations. Donors and supporters would be motivated to participate in blood donation activities through a rewards system, which can go from gift cards to medical examinations, access to sports centers, and more.

The network would, of course, be available to everyone at all times, every day of the year. It would allow donors to quickly see which blood type is required, when, and where. This method could help save countless lives, and improve the efficiency of blood donating. In other words, it would become a new and improved version of a social blood bank.

BloodChain ICO details

Naturally, for BloodChain's platform to operate, it would require its own, native cryptocurrency. The project developed a token known as BLOOD, which held its ICO a little over a year ago, from May 1st, 2018, to June 1st of the same year.

Interestingly enough, there is no data regarding the raised funds, which might be a red flag for some coin holders. According to the project's white paper, the plan was to create a total supply of 99 billion BLOOD tokens and distribute 14 billion during the pre-sale period. Then, another 65 billion would be offered to the general public via the ICO. The company would keep 20 billion.

The token's preICO price was $0,00005, while its ICO price was $0,00008. The project accepted Ethereum tokens in exchange for BLOOD tokens, and it had a hard cap of $5.521,356. The token was, of course, a utility created on Ethereum's network, which makes it another ERC-20 token.

Author: Ali Raza for

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StartJuly 1, 2019
EndAugust 31, 2019

I have studied all reading material provided by BloodChain and failed to find a single mention concerning the possible cooperation with governments and international health organizations. So far, they have attracted only a pharmaceutical corporation and a bunch of tech companies as partners. They really need government support, as well as a legal verifier of the safety of donated blood. Personally, if I needed blood, I wouldn't risk going to BloodChain, simply because I am still not sure how they plan to ensure its purity.

Steph   August 13, 2019  

Let me get this straight, the concept of BloodChain seems weird to me - and I don’t really understand why they need blockchain to resolve the issue of low blood supply. That’s the problem which must be addressed by the governments or the hospital management. Regardless of that, even if this startup succeeds in Poland, how would it scale up at least to the European level? That would be a bureaucratic nightmare. To tell you the truth, for the time being, I try to stay away from blockchain startups that have something to do with medicine, BloodChain included.

Carter   July 26, 2019  

The project certainly has an interesting idea, and the vision itself is quite precise and unique. However, there are more than a few red flags in regards to the project, such as the fact that the team is not verified, there is a serious lack of information, and it was even marked as a scam by

Jack   July 18, 2019  

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