NiMEDix - ICO Review

Healthcare is one of the stubbornest industries for blockchain startups that can’t seem to refuse to yield to the innovative technology. The reason behind such rigidness lies in the fact that medicine has traditionally been over-regulated and incredibly conservative towards technological progress, mainly because it deals with various medical supplies, including hard drugs, access to which must be controlled rigorously, and patient records that contain a lot of sensitive information. That is why healthcare is keeping its doors shut to blockchain projects, although some of them, like NiMEDix still refuse to abandon hope of disrupting this industry with the help of the distributed ledger and loyal companion - digital token.

Problem statement


The NiMEDix team wants to take upon itself the task of resolving the complicated and somewhat paradoxical situation that has formed in the healthcare sector of Nigeria, one of the largest African countries by territory and the 7th most populous country in the world.

The Nigerian government and NGOs have been receiving the enormous sums of money in financial aid from the developed countries as well as the reputable charity foundations. For instance, in the period from 2013 until 2015, the Nigerian healthcare sector had been supplied with $150 million from World Bank, $15 million from Norway, and as much as $400 million from Bill & Melinda Gates Foundation. However, this money has never been used efficiently due to the corruption, embezzlement, and the overall dysfunctionality of the Nigerian health industry.

NiMEDix is set to resolve all these and other accompanying issues by introducing a solution that will fuse the blockchain technology with artificial intelligence.

The essence of NiMEDix


NiMEDix strives to create an ecosystem for personalized healthcare that must exploit the advantages of both the Ethereum blockchain (and its smart contracts) and artificial intelligence. Blockchain will help to fully decentralize the Nigerian healthcare system, thus making it resistant to fraud, corruption, and the inappropriate use of funds, while AI would be engaged in gathering and processing of patient and financial data from all participants in the ecosystem.

Through NiMEDix, individuals, corporations, medical establishments, and government authorities will be able to establish a long-standing partnership approach that would benefit the healthcare industry of Nigeria and beyond. Patients will get a chance to receive timely online advice and support from competent specialists. Investors will be incentivized by receiving tax relief and other perks. Thanks to blockchain, all participants will have full access and control over their personal and financial data, as well as health records. The ecosystem will be fueled by the NiM token, which will be used as a means for getting access to the special features, paying for medical services, and investing in future medical projects.


The NiMEDix team

  • Ochoche Ubenyi. Founder and CEO. Certified doctor and a long-standing member of the Tower of Hope Foundation.
  • Emmanuel Yanum. Co-founder and CTO. A seasoned computer scientist who specializes in deep learning and blockchain development.

ICO details


NiMEDix is now in the pre-ICO phase, offering tokens at a price of $0.1 per NiM. The preliminary event is due to last until January 31, 2020. The fully-fledged ICO will begin on May 1, 2020, and conclude on August 31. Over that period of time, the project plans to raise at least $1 million, with $10 million being the maximum goal. NiM can be purchased with Bitcoin, Ethereum, and Stellar. Whitelisting & KYC are mandatory. The United States is the only country on the list of restricted areas.

Author: Alex Paulson for Crypto-Rating.com

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NiMEDix
StartMay 1, 2020
EndAugust 31, 2020
Expired

I have come across numerous blockchain startups related to medicine, but none of them seem to have hit the mainstream as of yet, mainly due to the reasons mentioned in the review. NiMEDix shows some potential - and they are definitely pursuing a noble cause - but they will face many obstacles, such as red taping, the distrust of people towards innovations, etc. I hope they would be able to overcome them and reach their goals.

TwistedLogiX   July 11, 2020  


The first order of business for NiMEDix should have been to raise awareness among the Nigerian population about the concept of blockchain and crypto tokens. I don't mean to insult, but the population which is far from being tech-savvy won't adopt something so new and complicated as blockchain and a personalized healthcare system. Even if this project becomes popular and profitable, the corrupt African government will find a way to shut it down at once.

Meatloaf   January 27, 2020  


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