By
Steve Muchoki
March 27th, 2024
MedCredits has announced its collaboration with ID verification provider Civic, which will result in the world’s first decentralized public registry of physicians.
Tech firm MedCredits has made another step towards building the world’s first decentralized public registry of physicians by forming a partnership with leading blockchain identity verification provider Civic.
With MedCredits, individuals all over the world will soon be able to publicly access physicians via an international network of healthcare applications. Civic’s state-of-the-art technologies in identity verification and KYC processes has already made possible the concept of self-sovereign identity on the blockchain with a real-time authorization of identity use.
Its introduction of on-demand, secure, and low-cost access to identity verification services through the blockchain will add a layer of trust to physician credentials on MedCredits.
The collaboration between MedCredits and Civic stands for a more efficient and cheaper method of professional credentialing by letting the proliferating range healthcare apps finally access a worldwide shared pool of licensed and verified physicians.
MedCredits COO, Moshe Praver, has explained that the company’s solution of registries curated by digital tokens represents itself a perfect use-case of blockchain tech in tokenizing the healthcare industry by creating an open-access registry for professional health practitioners. Moshe also beleives that, with the first decentralized registry of licensed physicians, the company will become the base layer of any healthcare app seeking a pool of doctors.
Civic was equally enthused about the partnership, with its CEO, Vinny Lingham, pleased to collaborate in providing healthcare identity verification services that are lower in costs and higher in security. With Civic, MedCredits aims to ensure that the physicians submitting credentialing documents in the mid credits registry are the actual owners of the documents, and to simultaneously prevent identity theft on the network as well.
MedCredits will create a single public token-curated registry that consolidates physician credentialing, ready for a global network of independent reviewers to validate and verify documentation. Reviewers will then be compensated with the native digital token of the platform, MEDX.
Through this incentivized and tokenized system, MedCredits targets at creating a free market ecosystem that will translate into more affordable and more efficient healthcare for all.
Hippocrates, MedCredits’s first software release, has been available since December 2017. It allows patients to connect with dermatologists for easy, quick diagnoses, at a fraction of regular costs. With a simple process that only requires submitting a photo of the skin condition, providing a few details and submitting the case, the patient’s case is immediately broadcasted to the global registry of licensed physicians, who reply to the case with a diagnosis and recommendation.
The MedCredits platform has already received widespread interest from physicians wishing to join the registry, reflecting the desire of healthcare professionals to reclaim their practice autonomy and take up more active roles in healthcare.
