Blockchain technologies are becoming more diverse with every new innovation looking for a niche to fill. MediShares (MDS) recently ventured into the mutual aid market that has been growing enormously in the past decade. This is a type of insurance currently offered through traditional finance processes that seem rather rigorous for some customers. It is for this reason that MediShares developed a blockchain platform to link the demand and supply within this industry at cheaper costs and greater flexibility.
This technology falls within the many blockchain platforms that use the Ethereum network and ERC20 tokens for efficient functioning. MediShares network is an open source leaving room for contributions to its code by anyone. In addition the platform utilizes smart contracts for all its transactions.
MDS 2018 Milestones!
- Beta Wallet App Release
The MDS wallet is a great solution to lower volatility associated with cryptocurrencies. It is the first crypto wallet to have insurance since the inception of cryptos by Satoshi. Flexibility features within this wallet allows users to link with the ETH & EOS wallets. Also, users will be able to fully operate within the EOS platform using this wallet besides the advanced security features that include face recognition & biometric ID. This is a good step towards securing your digital assets and accessing mutual aid with minimal restrictions or KYC practices that may be unnecessary.
- Strategic cooperation with GXS
Two months ago MediShares (MDS) announced a strategic cooperation with GXS, the main aim of the unity is to enhance the blockchain tech to an all-rounded dependable ecosystem. The GXS data exchange is a decentralized blockchain platform whose main function is pegged around data exchange of all forms. Users in this platform have the access to create a blockchain ID in order to obtain authority for storing data on the network. This project will enable users to control their data behavior on specific networks through offering incentives.
Real World Applications
- Virtual Asset mutual aid
Investment assets have been re-packaged to come up with new assets that the market has adopted over the years. Now that digital assets have become more popular the question of hedging risk associated to this class of assets has become more important. MDS platform allows for users to enter into a mutual aid contract to insure their digital portfolios which they will be compensated upon proving loss.
- Disastrous Weather mutual aid
Smart contracts will come in handy in predicting weather patterns if integrated with the AI tech for predicting weather and similar interfaces. Therefore, MediShares development aims at reducing the loss attributed to unprecedented weather patterns by creation of smart contracts to act as insurance agreements.
MDS Price Overview
MediShares (MDS) is trading at $0.138 right now and 0.00001549 against Satoshi’s coin according to coinmarketcap. However, the altcoin is currently in the top 200 coin s in market cap having surpassed the $70 million mark. The cryptocurrency has been on a bullish trend in the past month having gained 70% although the volatility remained at a high of 48% as is the nature in crypto markets. With less than half a year in existence the coin has managed a cumulative return of 329%, this is rare or close to impossible with bonds and securities which fall at a lower risk category.