GRiiiD Medipedia WhitePaper-Version-2(EN) · 2018-09-13 · 3.2.3 Medipedia Participants Credential...

WHITEPAPERVersion-2

Medipedia whitepaper

Medipedia. all rights reserved.

Table of Contents

1. Introduction1.1 Opportunities of Medical Service Market

1.1.1 Trends of Worldwide Medical Tourism

1.1.2 State of Medical Tourism in Korea

1.2 Problems of Medical Markets & Tourism

1.2.1 Difficulties faced by Medical Consumer

1.2.2 Difficulties faced by Medical Provider

1.2.3 Difficulties faced by Other Participants

1.2.4 Problems caused by the Agents in Medical Tourism

1.3 Mission Statement of Medipedia Team

3. Medipedia Technical Detail3.1 Medipedia Architecture Plan

3.1.1 First layer: Medipedia Core

3.1.2 Second layer: Medipedia Service

3.1.3 Third layer: Medipedia Platform

3.2 Medipedia Platform Component

3.2.1 Medipedia Account

3.2.2 Medipedia Data Storage

3.2.3 Medipedia Participants Credential System

3.2.5 Medipedia Symbiotic System

4.3.1 Use of Funds

3.2.4 Medipedia Medical Service Consultation

and Matching System

2. Medipedia, Innovation of the medical service provision ecosystem

2.1 Decentralization of the medical treatment information

2.1.1 Why Blockchain? How does it solve current problem?

2.1.2 Medical service provision method - How do you connect good doctors with blockchain?

2.2 Medipedia, New Ecosystem

2.2.1 Medipedia Platform Service

2.2.2 Comparative Advantage of Medipedia platform

4. Token Model

4.1 Medipedia Token

4.2 Medipedia Rewards System

4.3 Token Generation Event

5. Future RoadMap

5.1 Platform Roadmap

6. Teams & Advisors

7. Reference

8. Disclaimer

6.1 Management Team

6.2 Advisors & Partners

Executive Summary


page 00Medipedia. all rights reserved.

Executive SummaryThis paper was commissioned to examine the problems of medical tourism and how a block-chain based

platform can solve the current problems of medical tourism.

According to the analysis by the Medipedia team, current medical tourism problems include:

In response, Medipedia believes using block-chain technology to provide a platform that allows patients and

hospitals to connect without an intermediary would solve the problem.

Medipedia will then proceed as follows:

In addition, to improve the satisfaction of the platform use by medical institutions, Medipedia will not disclose

the cost of care to the public, while preparing for additional revenue generation structures. The Medipedia

team will also introduce a reward-related token system to activate the platform and allow external users such

as social media and big data services to enter the platform.

1. Agent problems: Most patients go on a medical tour through an agent, paying the agent at

least 30% of the cost of medical care, or more than 100% of the cost.

1. Store the process on the block chain until patients go on medical tourism: The patient will

consult the hospital through the platform and all of this would be stored on the block chain. As

a result, hospitals cannot make false advertisements and patients can have confidence in

hospitals.

2. Credibility issues: patients lack the space to find which hospitals are best suited to them or

which hospitals provide the right service.

2. Enable thorough verification through the review system: Bilateral and interactive reviews of

patients and hospitals will be stored on the block chain, enabling reliability.

3. The patient provides the necessary services for medical tourism: Provision of proven interpre-

tation services, transportation, and medical advice from advisory groups will be able for

patients to better access the patient.



1. IntroductionCurrently, medical tourism consumers1 request information from various medical institutions and agents to

receive better medical services, but most of the medical service information is managed by individual medical

institutions. Information exchange outside of the medical institution is only to disclose basic information

through various media, and accurate information is not provided to medical consumers who are unlikely to be

patients.

In addition, the disclosure of medical service information centered on individual medical institutions is subjec-

tive, difficult to compare the quality of medical services, and a large amount of money is paid to agents and

coordinators in addition to medical services. Therefore, medical consumers are not able to receive the medical

services that they really need, or the quality and satisfaction of the medical services get are low. To solve this

problem, various projects such as the international medical coordinator license[1] and medical tourism[2] have

been carried out for a long time, but a clear solution has not yet been presented, which hinders the high

growth potential of the medical service market[3].

The Medipedia team is confident that by using the fast-growing blockchain technology in the financial sector, it

can create a system that meets the ideal requirements of medical consumers, medical providers2, and external

participants3 in the use of medical services. Moving further on, by exploring these medical service data Medi-

pedia can develop a wide range of medical service-related applications and other services, as well as a truly

personalized medical tourism service, and establishing a system that can provide the patient centered medical

tourism platform to innovate the entire medical tourism industry.

1.1 Opportunities of Medical Service MarketMedical expenditure will increase by 4.3% annually to over USD $ 300 billion, reaching USD $ 8.7 trillion by 2020.

This is due to aging and population growth, market expansion, advances in health care, and rising labor costs [4].

1 Medical consumers refer to people who are a patient or are potentially interested in medical tourism.2 Medical providers refer to doctors and medical institutions.3 External participants refer to medical research institutions, medical equipment companies,

pharmaceutical companies, interpretation companies, tourism agencies, and insurance companies.

[Source: 2017 ‘Global Health Care Outlook’, Deloitte, 4]

Global HealthCare Expenditures

CAGR (2015 - 2020)

Global NorthAmerica

WesternEurope

Asia &Australasia

LatinAmerica

MiddleEast & Africa

TransitionEconomies

USD $ billion

2020 (P)2015

2,000

4,000

6,000

8,000

10,000 8,73

4.6

7,07

7.1

4,08

3.6

3,30

6.2

2,00

6.6

1,64

5.7

1,96

4.9

1,53

7.5

400.

5

355.

7

138.

9

112.

7

246.

1

170.

9

4.3%

4.3%4% 5%

2.4% 4.2% 7.5%



1.1.1 Trends of Worldwide Medical Tourism

By 2016, the global medical tourism market is worth around USD $ 19.7 billion. It is expected to grow 18.8%

annually by 2021 and reach USD $ 46.6 billion. The global medical tourism market is also divided into treatment

types, mainly into orthopedic, cardiovascular, dental, cosmetic, infertility, neurological, cancer, and others.

In particular, by 2021, the APAC market is expected to lead the world, and according to Technavio's research,

more than 50% of medical tourism is expected to be dominated by the APAC market, because of the cost

deduction. For example, according to Patients Beyond Borders, it is believed that the patient can save the

following amount in US dollars: Brazil 20-30%, India 65-90%, Malaysia 65-80%, Mexico: 40-65%, Singapore:

25-40%, South Korea: 30 -45%, Taiwan: 40-55%, Thailand: 50-75%, Turkey: 50-65%.

1.1.2 State of Medical Tourism in Korea

The current state of medical tourism in Korea shows strength in certain treatment areas. Plastic surgeons, com-

prehensive screenings, dermatology and orthopedic departments play a major role in the Korean medical tour-

ism market. In the case of cosmetic surgery, based on the total number of treatments, Korea has the fourth

largest market, following the United States, Brazil and Japan. In addition, medical tourism in Korea is increasing

every year, with a market size estimated to be around $900 million with around 800,000 medical tourists in

2018.

Top 4 Medical Tourims Categories in South Korea

[Source: ‘Korea Medical Tourism Marketing’, Korea Tourism Organization, 5]

Category1st 2nd

Country

Plastic Surgery 41,263(11.1) China 26,537 Japan 2,809 Kazakhstan 1,029

Examination Center 34,284(9.3) China 8,734 Russia 4,357 USA 4,133

#Patients Country #Patients Country #Patients

3rdNumber ofPatients

(ratio)

Dermatology 31,900(8.6) China 13,692 Japan 5,749 USA 3,488

Orthopedics 22,468(6.1) China 6,767 USA 4,362 Russia 1,538



Top 11 Countries who visit South Korea for Medical Tourism

If we look at the number of Korean tourists by country in detail, we can see that Chinese account for more than

30% of the total number of patients, followed by the United States, Russia, and the Japan. This indicates that a

country with a high geographical proximity to Korea is a major contributor, and furthermore, it shows that there

is a fast increase in the number of Chinese people since 2011.


Rank Country

2011 2012 2013 2014 2015

#Patients Ratio #Patients Ratio #Patients Ratio #Patients Ratio #Patients Ratio

Total no. of Patients

1

2

3

4

5

6

7

8

9

10

11

China

USA

Russia

Japan

Kazakhstan

Mongolia

Vietnam

Canada

Arab Emirates

Uzbekistan

Philippines

122,297

19,222

27,529

9,650

22,491

732

3,266

1,336

2,051

158

491

1,178

100

15.7

22.5

7.9

18.4

0.6

2.7

1.1

1.7

0.1

0.4

1

159,464

32,503

30,582

16,438

19,744

1,633

8,407

2,231

2,756

342

824

1,787

100

20.4

19.2

10.3

12.4

1

5.3

1.4

1.7

0.2

0.5

1.1

211,218

56,075

32,750

24,026

16,849

2,890

12,034

2,988

2,770

1,151

1,358

1,848

100

26.5

15.5

11.4

8

1.4

5.7

1.4

1.3

0.5

0.6

0.9

266,501

79,481

35,491

31,829

14,336

8,029

12,803

3,728

2,943

2,633

1,904

2,024

100

29.8

13.3

11.9

5.4

3

4.8

1.4

1.1

1

0.7

0.8

296,889

99,059

40,986

20,856

18,884

12,567

12,522

5,316

3,206

2,946

2,634

2,410

100

33.4

13.8

7

6.4

4.2

4.2

1.8

1.1

1

0.9

0.8



Excellent medical skills of the doctor

Reliability of the medical institution

State-of-the-art medical equipment and facilities

Infrastruc-ture for Foreign Patients

An appropriate price level

Geographical accessibility

Ease of communication

Medical tourism related product diversity

Post-discharge service

Possibility of Interconnection with insurance companies

Reason for Choosing South Korea As Medical Tourism Destination

Top Priority

Total(Multiple responses)

10

20

30

40

50

60

70


The main reason why foreigners decide to visit Korea as their medical tourism destination is because they

believe that the medical staff there possess the most excellent medical skills. Based on the Korean medical

tourism marketing survey with 1,056 samples, about 70% of the respondents, if duplicate response is accepted,

or about 50% of the respondents if only the biggest reason was to be chosen, responded that they chose Korea

as their medical tourism destination because of the excellent skill of the Korean medical staff, followed by trust

in medical institutions, high-tech medical equipment, and human infrastructure for foreigners.

Moreover, if we look at the pathways that foreigners get information about medical institutions in Korea, over

70% of them get information from the people around them and also through the Internet or (medical) tourism

agencies and advertisements. This directly shows that foreign medical tourists do not select and compare accu-

rate information from medical service providers but instead rely on existing tourist information and on unveri-

fied internet information.

50.0

15.8

9.3 7.33.8 3.4 1.8 0.8 0.3 1.0

68.9

56.0

40.1

31.7

16.8 15.611.8

5.4 4.8 4.1

Information Channel for Medical Tourism in South Korea


Referral of friends and relatives

Internet Travel agent & Medical agent

Advertisement and news on broadcast media

Magazine ad or article

etc. no response

Top Priority

10

20

30

40

50

60

70

58.4

14.8 16.4

3.8 1.8 1.5 3.4

77.1

47.1

39.7

24.5

14.0

4.1 3.4

Total(Multiple responses)



1.2 Problems of Medical Markets & Tourism1.2.1 Difficulties faced by Medical Consumer

1.2.1.1 High Medical Charge Fee and Waiting Time in Korea

With the development of new medical technologies and the rising cost of labor and medical treatment materi-

als, there are many places where the medical service fee is rising to higher levels each year. The cost of some

of the latest medical technologies is way too expensive for consumers to pay. Additionally, the rate of increase

in the income of medical consumers has not been able to keep up with the increase in the medical service fee.

Also, the number of doctors compared to the population is insufficient. According to the data from the World

Health Organization (WHO), more than 45% of WHO members have less than one medical worker per 1000

people[6]. Also, many patients are missing treatment in due time because of high waiting time.

1.2.1.2 The Absence of Credible Medical Personnel and Medical Institutions

When using the medical service, most medical consumers look for medical personnel and medical institutions

that have been consistently providing the medical services they need and have high success rates in treatment.

However, when it comes to moving to a new country or traveling to another country for medical tourism, it is

difficult to find a medium that provides accurate and objective information about the medical service that you

need, so most of them either search the Internet or visit the hospital recommended by their acquaintance or

agent. In this case, the medical consumer visits the hospital without consultation with the hospital and without

knowing whether they can receive the medical service they need. This reduces the medical treatment success

rate, and causes monetary damage to the patient.

1.2.1.3 Inconvenience in Reservation

In the overall medical service sector, most medical consumers look for a provider directly and make a reserva-

tion after deciding on the price of the service and the date of the treatment. Although the reservation system

has begun to digitize, due to the nature of the medical service sector, most of the medical service reservations

are made by telephone or by appointment. Furthermore, in the case of medical tourism, medical consumers

are having difficulties in making reservations because of difficulties in contacting them directly, due to language

barriers and time lags. Currently, agents engage in these activities, which prevents direct communication

between patients and medical institutions. This makes communication between medical consumers and medi-

cal providers more difficult, which makes it difficult for medical consumers to make an accurate decision

regarding the medical services and reservation. This inconvenience results in the increase of unnecessary

waiting times for medical tourism participants [7].



1.2.2 Difficulties faced by Medical Provider

1.2.2.1 Difficulty in Consultation and Promotion

Currently, most medical providers do not promote themselves effectively. Although they advertise by creating

homepages for their medical staff and institutions, it is difficult to find a medical consumer if medical providers

do not register their website and do not buy an advertisement from a marketing company such as Goodoc. In

addition, there is limited space for advertising and private medical providers who are economically and scarcely

abbreviated and cannot overcome the economic power of large hospitals, making it difficult to promote their

own hospitals. Also, many medical institutions' promotion websites do not provide detailed sub-category

search services, so it is difficult to promote the specialized expertise of the medical provider to patients[8].

1.2.2.2 Reliability of Medical Staff and Medical Institutions

The credibility of the provider does not build up overnight. A lot of time, effort and money are invested to accu-

mulate the trust. This accumulated credibility is impossible to transfer and can collapse in a moment. Many

medical consumers search the profiles of medical staff and medical institutions and choose their preferred

medical provider through the Internet, but if the account on the promotional site is hacked or deleted, the cred-

ibility that has been built up is lost. For example, illegal activities such as the endoscope disinfection case [9]

cause damage to the credibility of the other medical institutions where the same medical service is performed

and this leads to economic loss due to reservation cancellations.

1.2.2.3 Late Response of Advanced Technology

Currently, state-of-the-art technologies such as AI and Chatbot are being developed that connect medical

consumers and medical providers, but medical providers are pursuing classical methods without using these

technologies. Ultimately, if new technology is applied, medical institutions can save the consultation and reser-

vation time with the patient, but they are reluctant because they think that this short investment will lead to loss

of time, and in turn, loss of profit.



1.2.4 Problems caused by the Agents in Medical Tourism

1.2.3 Difficulties faced by Other Participants

1.2.3.1 Difficulties in the Globalization of Medical Industry due to Political and Legal Barriers and Differences Between Countries

Medical device companies and pharmaceutical companies are spending a lot of time and money due to political

and legal barriers in each country when developing advanced medical technologies and drugs and conducting

advertising and related businesses. For example, if you are trying to advertise and export after developing a

new drug, in case of medicines that require a prescription, they cannot be exposed to the normal media, and

export-related regulations take a long time to resolve. As a result, many patients who are able to treat with new

technologies and drugs may miss the treatment time because it takes too much time for them to receive this

news. There are also a number of cases in which pharmaceutical companies abandon marketing because of

different legal bases for country-specific copy products.

1.2.3.2 Difficulties in Developing New Drugs and Medical Devices due to Economy of Scale

Medical device companies and pharmaceutical companies conduct market research in various countries and

people to develop new products or drugs for the treatment of rare diseases. However, there is a shortage of

samples needed for development and the need to collaborate with multiple companies spread across multiple

locations. Ultimately, small or medium-sized pharmaceutical companies are relinquishing new drug develop-

ment due to cost concerns, and only large pharmaceutical companies that are economies of scale are develop-

ing new drugs for the treatment of rare diseases. This effectively prevents the development of medical devices

and new drugs that can contribute to global health[10].

Most patients go on medical tourism through agents. However, with the development of the Internet and medi-

cal information becoming more transparent, the problems regarding agents that have been inherited has

come to the surface which lowers the overall reliability of medical tourism. For example, according to CCTV,

China's official media, Chinese people receive treatment after paying about 30% more than Koreans and pay a

commission of about 50% to brokers and agents. The specific details are as follows[7].



1.2.4.1 Bankruptcy

Many agent companies are falling into financial difficulty due to their small size. To attract a single patient,

agent companies advertise on many media channels and spend a lot of business development costs to partner

with renowned hospitals and insurance companies. Agents gain commission by attracting patients, but agent

firms are bankrupt if the number of patients does not exceed the cost of debt. As a result, the patient who pays

the medical service fee to the agent does not receive the medical service, and the medical provider may not

receive the medical service fee from the agent after the medical service treatment. There are also cases where

large-scale agent companies have applied for bankruptcy for this reason. For example, there was an incident in

the United States where about $60 million in medical care costs could not be paid to 1,600 doctors and hospi-

tals associated with the company, Satori World Medical.

1.2.4.2 Fraud

Fraud of agents is also one of the problems preventing the growth of medical tourism in the world. For exam-

ple, patients who are in urgent need of treatment are suffering a lot of damage as targets of fraud. The agent

contracts with the medical provider in advance to contract the medical customer to provide the medical service

even if the medical customer pays 40% to 50% of the medical service fee, but in case of the urgent patient, the

agent receives the total medical service fee and the agent fee in advance, and after only paying the contracted

amount of 40% to the hospital, the agent orders the hospital to receive the remaining amount from the patient

and then disappears. There is the fraud case of EcuMedical (Canadian agent company) as an example of the

case mentioned above.

In addition, large-scale agents may set up a medical service fee in advance by subcontracting with a medical

provider and to the medical consumer who does not know it, the agent will provide medical tourism service

after receiving a medical fee exceeding the statutory fee (20%) set by the government.

1.2.4.3 Scam

A small number of agent companies think that medical tourism is a business where one can profit quickly with

minimal capital, so they lower the reputation of agent companies and medical tourism that operate honestly in

the medical tourism industry.

Most scams are as follows:

These scams affect many medical consumers and make them reluctant to participate in the medical tourism

market.

- A ghost company that does not have a real office or employee and only a homepage.- Excess earning by recommending the most affordable hospitals among the cooperative hospitals.- When an agent company advises a medical service to attract medical consumers by impersonating a medical provider.- Medical service deductions at expensive prices.- Provide information that does not differ from ordinary members after inducing paid membership from the recommended

website of medical tourism.



1.3 Mission Statement of Medipedia Team“To improve the accessibility and quality of medical services and to achieve decentralization of medical

tourism services, which are appropriate to the needs and health conditions of medical consumers”

As mentioned above, despite the many possibilities and rapid growth of the market, the digitalization and appli-

cation development, which can be of strong foundation of the medical field, is behind compared to the other

industries and with many problems, the medical tourism market is not being realized to its full potential.

Our Medipedia team is based on expertise and understanding of the medical ecosystem. Based on this, the

goal is to decentralize the medical tourism services by joining the medical tourism market and combining the

blockchain technology, which is a technology to be applied to all the markets of the world in the future. Medipe-

dia is moving away from unilateral medical service information and delivery system centered on medical institu-

tions. Instead, all objects will be able to exchange information at equal positions and build a transparent and

secure medical tourism service market with high accessibility that could not be achieved with existing systems.

Medipedia will connect with the platform, based on medical tourism information accumulated on the platform,

to solve the problems of existing medical consumers, medical providers, and external participants. It will

further enable the development of a variety of medical delivery services and will provide an opportunity for all

participating participants to gain rewards and ultimately create a self-sufficient medical platform.

1.2.4.4 Agent Regulations

Currently, except for some countries, medical tourism regulations are not clearly defined. It is easy to establish

a corporation for medical tourism for business purposes and there are only a few legal regulations. Therefore,

individuals without medical service expertise can also set up an agent company for the purpose of medical

tourism, thereby lowering the quality of medical tourism services and lowering the reputation of the medical

tourism industry itself. In addition, agent companies charge different fees for attracting medical consumers,

resulting in price differentiation between medical consumers. Also, when a bankruptcy is filed and due to finan-

cial difficulties, there is no compensation for the amount already paid by the medical consumer, so a lot of

damage is being forced upon the consumers.

1.2.4.5 False and Exaggerated Advertising

Many agents make fake reviews and exaggerated advertisements on the homepage of the medical provider or

the agent's homepage, which have previously entered into a partnership to attract medical consumers. Accord-

ing to the Korea Internet Advertising Foundation (KIAF) survey, nearly 1,000 false reviews were found on 26

different agent websites, and a suspension of business was notified to medical providers and agent companies

who conducted false advertisements.



2. Medipedia, Innovation of the medical service provision ecosystem

The Medipedia team believes that decentralization of information is essential in order to solve the problems of

the existing medical tourism sector. Most existing medical information is concentrated in hospitals and medical

institutions so, the medical consumers are not able to obtain transparent information and can only access the

information processed by the hospital.

2.1 Decentralization of the medical treatment information

2.1.1 Why Blockchain? How does it solve current problem?

Using blockchain technology, all economic activities that occur within Medipedia's platform are stored as hash

values and are accessible to all who have performed any economic activity. In other words, information that has

been moving from the existing medical institution can be moved transparently between all participants, such

as medical institutions and patients.



2.1.1.1 Decentralized Medical Tourism Service Information System

Medipedia uses blockchain, the symbol of decentralization, to establish a medical tourism service provision

system with established patient rights. By connecting medical consumers to reliable medical providers through

its medical tourism services to meet medical consumers' purpose and needs, it is possible to reduce the unnec-

essary economic loss of medical consumers and improve the quality and satisfaction of medical tourism services.

2.1.1.2 Accessibility & Reliability

Medipedia stores all types of medical service information that is provided by each medical provider in a distrib-

uted database, allowing participants to gain convenient access anywhere, anytime via an Internet connection.

Currently, medical consumers must make contact independently, in order to obtain medical service information

from a number of medical providers, but Medipedia provides better accessibility to the medical tourism service

users by connecting them with all of the medical providers that can provided the desired medical service to the

patient in the Medipedia Network pool.

Medipedia also stores personal information, medical institution information, and medical information in a

decentralized data repository. In order to prevent data loss, backup data is continuously generated and main-

tained, and the hash value for the recorded data is recorded in the blockchain. Thereby, the integrity of the data

is verified and recovering the original data using the backup data in the case of modulation is possible. Medical

consumers can be assured of the integrity and reliability of the patient information stored in Medipedia, as it's

impossible to modify or delete their personal information after creating it at the time of the initial platform

account creation. Additionally, the Medipedia only allows medical services to be offered by medical personnel

whose credentials have been certified through the Medipedia platform system.

2.1.1.3 Maximum Security

According to HIPAA's privacy rule [11], all personal information of medical consumers is kept encrypted. The

medical consumer records the personal information, encrypts it, stores it on the platform, and grants access

only to the medical service provider of the desired medical service. The individual medical provider, after verify-

ing the request of the medical consumer, provides his medical service information and prices in the issued

cryptocurrency. Finally, the patient reviews the information provided by the provider and decides from which

provider they will receive the service. To prevent price wars between medical providers, Medipedia prevents

medical providers from accessing the price of medical services from other providers. Also, when a medical

consumer directly contacts a medical provider to discuss prices, they will be penalized upon detection.



2.1.1.4 Transparency

Medipedia records all medical service information, including the cost of treatment in the blockchain. Medical

consumers are considered to be a minority. They often do not receive accurate information about the medical

service that they are receiving, or the service fees associated with treatment in the current medical tourism

market, as all of the information is centered around agents and medical institutions. However, Medipedia

provides a more transparent medical service market by establishing a medical consumer-oriented medical

service environment, that unifies medical information for medical consumers and prevents medical providers

from information asymmetry.

2.1.1.5 Interoperability & Comparability

Medipedia is an open platform. Based on the medical services stored in the platform, various applications can

be freely connected. This allows external participants and medical providers to use the SDK and API provided

by Medipedia to develop their own applications. With this high degree of freedom and scalability, Medipedia

can have higher interoperability than the current medical service market system.

Medipedia also creates and categorizes a pool of medical providers by the medical service department. When

a medical consumer requests a desired medical service, the request is sent to the pool of medical providers

simultaneously. The medical providers who receive the request reply back to the medical services that they can

provide to the medical consumer in the format created in the Medipedia platform. This information is highly

objective and provides a higher level of comparability to medical consumers and allow them to choose the right

medical services.



2.1.2.1 How do We Classify a Good Doctor?

There are many ways to distinguish good doctors. Each individual can define a good doctor through various

objective and subjective factors, such as how friendly the doctor is with patients, the size of the hospital, the

success rate of treatment, or the degree of career of the doctor.

In other words, medical consumers on the platform can select information that meets their criteria, which will

find good doctors that meet individual standards.

2.1.2.2 How do We Build Trust?

Medipedia will also introduce the Medipedia Rewards System to increase and maintain the trust between

medical providers and medical consumers and to connect highly reliable participants. This will be described in

detail later in the 4.2 Medipedia Rewards System.

2.1.2 Medical service provision method - How do you connect good doctors with blockchain?

The ultimate goal of the Medipedia team is to provide the right platform for patients to meet good physicians.

Medical consumers will be able to find the doctors they want by using information that will be stored on the

platform in the future. For example, when searching for a doctor who has a high procedure success rate, a

medical consumer can find desired information through various channels such as review or social media within

the Medipedia platfrom.



The Medipedia platform has built-in automatic translation. We will continuously manage and update this to

enable smooth communication between participants when using all services and will design the platform so

that there isn't any language barrier inconvenience when using all services.

2.2 Medipedia, New Ecosystem

2.2.1.1 Medical Service Matching Service

Medical consumers can use the Medipedia platform to find and request the customized medical services that

they want. When a medical consumer requests a customized medical services on the Medipedia platform, the

Medipedia network presents this service request to all certified medical providers that can provide the desired

medical services. Since Medipedia has many subdivisions of medical staff, medical consumers are able to

perform detailed searches on the Medipedia platform.

When a medical consumer requests customized medical services, their budget is also entered and transmitted

to the medical providers. The medical provider confirms the request and finally fills out possible medical servic-

es and the additional services that they can provide. After confirming the information of the medical service

that has been returned, the medical consumer can consult with various hospitals and finally receive the medical

service by selecting the desired medical provider.

2.2.1 Medipedia Platform Service



2.2.1.2 Medical Service Consultation Service

Medical consumers can use the Medipedia platform to get remote consultations about desired hospitals and

treatments before visiting each country. Medical consumers want to be treated within an acceptable budget,

but due to the nature of medical service, it is difficult for each medical provider to provide accurate price and

treatment details before consultation and treatment. Therefore, when consumers embark on medical tourism

through agents without consultation, they could spend a lot more money on top of the acceptable budget due

to incidental treatment.

In order to alleviate these inconveniences, Medipedia is planning to build a system within the platform for

consulting with the hospitals before visiting. Medical consumers can consult with the hospital by choosing

according to the desired medical subjects and the desired budget, and the consultation expenses can be paid

using MPR points, or by professional consultation tickets purchased with MEP tokens. Medical institutions can

conduct consultation directly within the Medipedia platform, and receive MPR points from the patient. The MPR

can be converted to MEP points at any time within the platform.



2.2.1.3 Social Media & Blog (Latest News Trend)

Recently, many medical consumers have been getting medical information through social media or beauty

bloggers. The Medipedia team will provide social media and blogging services within the platform to make it

easier to get the latest information on medical technology and medical institutions.

In the case of social media, medical consumers can open desired channels to obtain relevant information and

use the verification system to prevent false advertising. For example, a patient who is looking to undergo a

double eyelid procedure may use MPR points to open a channel, and can invite other patients who have under-

gone the same procedure. By participating and sharing information within the channel, they can earn MPR

points as well. It can be used for a group purchase function to receive discounts on medical services.

In addition, the Medipedia platform offers a blog function that allows medical consumers to collect all of the

information from one place by gathering content from power bloggers and medical companies to the Medipe-

dia platform from various platforms, which will increase the autogenous ability of the platform itself. For exam-

ple, in the case of a pharmaceutical company, when a new drug comes out, they can advertise on the platform

to inform the medical consumer of the new drug information and make it possible for doctors to make

purchases. In the case of a medical device company, when a new device is introduced, it will provide blog servic-

es regarding its test drive so that the company can advertise to doctors. Moreover, by adding a streaming func-

tion, various bloggers will be able to enhance their broadcasts related to medical treatment, and a professional

medical streaming service will be opened.

We will also provide news services via portal sites, such as Yahoo and Naver in Korea, so that medical consum-

ers can be easily updated with the latest technology for medical treatment and obtain information about hospi-

tals in the platform pool.



2.2.1.4 Bilateral Review System

The Medipedia team improves the accuracy and efficiency of future object activities on the platform by intro-

ducing medical staff reviews, medical consumer reviews and external participant review systems, based on the

big data accumulated within the platform. Medical staff reviews consist of the satisfaction of consultation, the

satisfaction and effectiveness of medical service procedures and overall medical institution evaluation (facilities

and friendliness). Medical consumer reviews are made up of time commitments and reviews of black consum-

ers. Lastly, external participant reviews consist of time commitment, expertise, simplicity and reuse intention.

These reviews are stored within the platform and can be purchased as reward points when each object in the

future wants to get information.

Also, a quick and easy examination process will be made possible with the introduction of an automatic summa-

ry tag system for all reviews. Using natural language processing techniques, we can outline the points of each

review so that it can be translated easily to any target language, summarize some of the key points within the

reviews and support high compression of the data, greatly reducing the storage requirements for review data.

2.2.1.5 Big Data Storage Service

The Medipedia platform keeps all of its history on the blockchain network when all economic activity occurs.

This stored information is used to make big data for user convenience and medical industry development.

The reliability of the platform itself can be increased by providing segmentation of medical service lists using

the demand of medical service, the pathway between the medical consumers and medical providers when

using medical services. In the case of medical providers, it is possible to develop medical services that can

increase the satisfaction of medical consumers by understanding their needs through reviews

In the case of external participants, they can do their best in optimizing the provision of service for the satisfac-

tion of users, when providing external service by grasping the demand and the economic cycle of the medical

service users.



2.2.1.6 Tourism & Travel

Medical consumers have various needs besides medical services. However, there are a number of people who

are disappointed by the lack of services currently offered to meet the needs of medical consumers. In addition,

reservation of accommodation is necessary when using a medical service. Medipedia also provides a tourism

& travel service app on the Medipedia platform that can be used for medical consumers. It also provides servic-

es that connect with certified external participants (travel agencies) [12] if the medical service does not end on

that day or if the medical consumer also has a purpose of tourism.

2.2.1.7 Interpretation Service

Foreign medical consumers may need interpretation services when using medical services. Medipedia will also

add interpretation service app to the platform, which is available to external participants, to address this situa-

tion. Interpreting service can be more cost-effective for medical consumers when it is provided by the medical

provider, and if not, medical consumers can purchase and use interpretation services on the platform. Interpre-

tation service providers are able to provide services when they meet the basic qualifications [13] [14] through

an authentication system within the platform. The proficiency level of the interpretation service and the service

satisfaction can be confirmed through the MPR reward program.

2.2.1.8 Medical Service Alliance

Medipedia is a decentralized open platform that promotes communication among participants. To help with

this, the Medical Tourism Services Alliance System App will be utilized. The Medical Tourism Services Alliance

System creates an ecosystem that can provide dynamic and differentiated medical tourism services through

collaboration between medical providers providing different medical services or between medical providers

and external service providers. For example, if a medical consumer wants to use two services simultaneously,

he or she will be asked by another medical provider. The alliance system can provide the benefits of using both

services at a more economical price. In addition, medical services, as well as tourism services, can form alliance

partnerships and medical providers through the Alliance system. In that case, it can meet the needs of medical

consumers and attract more medical consumers through their competitive advantages.

Blockchain technology solves the problem of existing centralized information. However, this does not com-

pletely solve the problem of the existing agent system. Even if there is decentralized information, there is a

need for a space where medical consumers and providers can eventually be connected. The Medipedia team

thought that it would be a great synergy if the blockchain technology and platform for innovative upgrade of

Medipedia’s medical tourism system were combined. Medipedia’s new medical tourism platform system is as

follows.



2.2.2.1 Advantages for Patients

2.2.2.1.1 Cost Reduction

As mentioned earlier, the current flow of information in the medical service system, flows from the medical

consumer, to the medical provider. Medical consumers have to search directly for the information they need,

and they do not have many options. Medipedia enables medical information to be shared, between patients

and medical institutions. When a medical consumer asks about the service they want to obtain, this inquiry is

queried to every target medical institution, and each interested medical institution responds to the medical

consumer again. The medical consumer ultimately selects one of several options. This creates natural competi-

tion among medical institutions, eliminating the current costly problems, and providing patient-centric care.

For example, a medical consumer in a Medipedia ecosystem, will have the opportunity to pay more than a

fraction of the amount of payment, and at the same time, attract more medical consumers to medical institu-

tions in Korea.

2.2.2.1.2 Less Waiting Time

Within the Medipedia platform, medical consumers can choose which medical institutions they want, to receive

care directly. They can choose a hospital that can be reserved, through the Medipedia platform, if they have a

reservation for a hospital in their home country, and are going to need medical tourism abroad. Also, if they

cannot make a reservation for a desired medical institution during a visit, they can make a reservation at a

hospital, with similar medical care experience.

2.2.2.1.3 High Quality Medical Services

Because medical information in the Medipedia platform is stored, medical institutions provide a much better

service to their patients, to build their credibility, which in turn, leads directly to patients receiving a high level

of medical care. It is also possible to provide medical services, that have not been provided until now, by elimi-

nating geographical barriers in providing medical services.

2.2.2 Comparative Advantage of Medipedia platform



2.2.2.2 Benefits for Medical Service Providers

2.2.2.2.1 Reduction in Marketing Costs

Previously, there was inadequate room for medical institutions to provide medical services. Because the hospi-

tals were conducting overseas conferences, and promoting them via agents, it was impossible to self-promote,

due to cost problems, unless they were large hospitals. Even large hospitals were disappointed with the cost of

publicity. But within the Medipedia platform, it is possible to promote in a variety of ways, and at low prices. For

example, a promotional feature can inform hospitals, by providing discounted services to patients in their area

of interest.

2.2.2.3 Benefits for Pharmaceuticals and Medical Institutions

2.2.2.3.1 Increased Profitability

Based on decentralized data of Medipedia, it is possible to know which medical devices, have high success and

treatment rates. In addition, side effects and treatment rate of each patient, can be quantified and compared

objectively, so that medical staff can provide better medical services and drugs, from pharmaceutical compa-

nies. In addition, since medical consumers search for hospitals with high-success rates, medical equipment and

hospitals that use drugs of pharmaceutical companies to increase treatment rates, pharmaceutical medical

institutions can identify and correct problems, in their current market to increase profit.

2.2.2.2.2 Increased Awareness of Specialization

Within Medipedia, the reliability of the platform, is directly linked to capabilities of the medical institution. If

doctors treat patients correctly, reliability will rise in many ways, which will soon lead to increased awareness of

doctors, and medical institutions.

2.2.2.2.3 Profitability Creation

Through Medipedia’s counseling system, doctors can provide basic consultation on dashboards, and remotely

to patients, as well as patients visiting on site. This can generate additional profits, by converting reward points

in the form of MEP tokens.

2.2.2.3.2 New Medicine / Medical Device Development

By using the decentralized and accumulated information of Medipedia, it may become possible to develop new

drugs and medical devices, that have not been possible so far. Information on rare diseases can be collected,

and new developments are possible, without using costly research funds. In addition, medicines frequently

used and evaluated by medical institutions, are automatically promoted by medical consumers, so that they can

be promoted, not only in the countries where they have been used, but also overseas.



2.2.2.4 Benefits of External Service Institutions

2.2.2.4.1 Expansion of Medical Tourism Service Economic Activities

Medipedia can use blockchain technology, to further expand geographical boundaries of medical tourists, and

attract global medical consumers to Medipedia platforms. Currently, most of the medical tourism users are in

surrounding countries of medical tourism. Users also use medical tourism services, to exchange money with

medical tourism sites, so exchange fees for unused currencies are high. There are also many cases in which

one cannot make financial transactions, or credit transactions. For this reason, there is much interest in medical

tourism. But financial transactions are limited, so many people around the world, especially those from the

Third World, are less engaged.

Unlike traditional money transactions and credit transactions, Medipedia’s blockchain based passwords are

available, without the need for many forms of identification, encouraging participation of people around the

world, that want to use medical services. Supplies increase opportunities to provide healthcare services, to

more medical consumers. As a result, we can expect economic activity to increase globally.



*Please note that we have migrated our blockchain platform from Ethereum to EOS. The migration is done for

following technical issues and providing better benefits to the Medipedia platform users.

1. There will be no transaction fee a user needs to pay while using Medipedia platform.

7. Better control over fork.

2. Block creation time is much less than Ethereum. Hence, there will be faster transactions, result-

ing in giving faster response to users. Transactions are confirmed in half a second, but Ethere-

um may take minutes to hours, in case network congestion happens.

4. Low Latency is one of the best features where there will not be any delay for getting response

from decentralized applications running on EOS blockchain.

6. Easy smart contract upgrade whenever required, unlike Ethereum, where a new smart contract

will be created. It’s very difficult to upgrade a smart contract in Ethereum blockchain, but it’s

very easy in EOS platform.

5. Human Readable Account names are unlike Ethereum or Bitcoin addresses that are public

keys. One can choose any account name that will be of 12 characters. And the same account

name could be used to send and receive tokens. The same account could be used to deploy

smart contracts.

3. Delegate Proof of Stake Consensus Algorithm that is divided into two parts and is electing a

group of block producers and scheduling block productions. The election process makes sure

that stakeholders are ultimately in control, because stakeholders lose the most when the

network does not operate smoothly. How people are elected has little impact on how consen-

sus is achieved on a minute by minute basis. Here always, the longest and honest chain will win.

3. Medipedia Technical Detail3.1 Medipedia Architecture PlanThere are three layers of Medipedia’s platform structure.

Medipedia PlatformMedical Service PlatformOutside Service App(Translation, Travel Agency, Insurance)

Medipedia ServicesIdentificationData IndexingMedipedia Token (ERC-20)

Medipedia Core＋

Blockchain

Data Network

EOS Platform



Due to the following advantages of EOS blockchain, Medipedia team has decided to use EOS Blockchain, but

MEP token will be issued ERC-20 token. Medipedia team can include more features on Ethereum blockchain if

Ethereum launches POS consensus algorithm. Medipedia team may migrate the platform to Ethereum from

EOS in the future if Ethereum platform will be better than EOS. We will always go for having best decentralized

platform that is proven for their claims at the moment.

3.1.1 First layer: Medipedia Core

Medipedia’s Core is a distributed database that can safely protect participants’ data, by using the latest encryp-

tion technology (a medical service data network), as a decentralization layer of Medipedia. Since the volume of

data that can be stored on the blockchain is limited, separate storage is required, to efficiently store all partici-

pant data, and the core layer provides the data. All data generated and transmitted by the Medipedia platform,

is automatically encrypted through the Medipedia SDK, and delivered to the core layer. This encrypted data can

only be read by the creation owner. The core layer is accessible via the service layer, and the Medipedia Core

includes a backup and recovery system, for stored data, so that data can be safely stored without loss.

3.1.2 Second layer: Medipedia Service

The role of providing the core functions for connecting the Medipedia platform, and core and managing partici-

pant information, is performed at the service layer. It uses the blockchain as an engine, to connect to the core

layer, based on information stored on the blockchain and provides input/output of stored data. The service

layer is a smart contract, based on the EOS, that can be divided into other layers. Smart contracts include partic-

ipant account information, including Medipedia token (MEP) information, and personal information paths for

participants stored in core. Medipedia lowers platform operating costs, by minimizing the volume of data

stored in the blockchain, including smart contracts. Frequently used information also uses a caching system, a

memory temporary storage system, to reduce data I/O processing time, and network traffic.

3.1.3 Third layer: Medipedia Platform

The platform layer, along with Medipedia participants, manages the healthcare ecosystem and includes all

forms of applications running in Web, mobile, and application environments. All applications have access to the

data stored in Medipedia, via the service layer. Medipedia plans to release the SDK to assist with quick and easy

development of applications. In addition, the Medipedia team is an open platform, and is able to develop appli-

cations, that can be connected to the Medipedia platform, if the developers do not use the SDK provided by

Medipedia, but instead follow the APIs and protocols that will be released later.



3.2 Medipedia Platform ComponentMedipedia’s platform is a decentralized platform based on EOS [17] blockchain. It is effective to develop a Smart

Contract based on EOS, because it has few advantages in terms of time, cost, versatility and reliability, in build-

ing a blockchain by itself and building a platform, based on it. EOS based development means that it can be

implemented back into Ethereum [15]. It has the advantage of being able to flexibly select a platform, to run

Medipedia according to technical conditions.

There are three main types of information used on the Medipedia platform: Medipedia token (MEP) informa-

tion, participant personal information, and finally medical service information. Because the above information

cannot be stored on the blockchain, due to problems of cost, capacity and etc., large medical service informa-

tion can be stored in the external device using technology of InterPlanetary File System (IPFS) [18]. It is stored

in encrypted form in centralized storage, and only the hash value for it is recorded in the blockchain.

3.2.1 Medipedia Account

Accounts created on the Medipedia platform are divided into medical consumer accounts, medical provider

accounts and external partner accounts, depending on the purpose of participants. These accounts are creat-

ed and operated in the same way technically, but different functions and rights are granted, according to differ-

ences in roles in the Medipedia ecosystem.

Read and writeyour personalinformation

All possible All possible All possible

Read and writemedical serviceinformation ofothers

Not possible When accepted bythe account owner

possible(For medical service purposes)

Medical provider records are also stored when recording medical

information

Read only when account owner

approves(Only certain external

participants are available)

Medical Consumer Medical Provider External Participant

Read and writegeneral service,general medicalinformation

Possible Possible PossibleNon-medical generated records

(general medical information)Non-medical generated records

(general medical information)



3.2.2 Medipedia Data Storage

The size of the medical service information recorded in the form of an electronic document so small that there

is no concern about the capacity, but the size of the medical service information recorded in the form of a

media can take up to several hundred megabytes. Therefore, it is not desirable to store all data in a blockchain.

Medipedia will encrypt the date that can only be decrypted by a personal key of the participant and store the

data in the IPFS-based off-blockchain storage. After successfully data storage, Medipedia allocates the hash

value to the saved data and stores it on the blockchain.

Participants can use their personal devices (computers, tablets, and smart phones) as a primary data storage

and store additional data in the blockchain that corresponds to Medipedia Core. Based on these stored data,

participants can access various customized medical services and all other services provided by Medipedia.

Even if the data stored in the device is lost due to a mistake of participant or by an accident, Medipedia has its

own backup system, reducing the worries and loss off its own data. Medipedia provides 1GB of data storage for

all participants free of charge, and provides additional capacity at low cost when it exceeds 1GB. Data stored in

the Medipedia store conforms to the International Medical Information Management Standard (HIPAA).

3.2.3 Medipedia Participants Credential System

Medipedia has an authentication system for medical providers and external participants as a way to distinguish

them from medical consumers. In order for medical service information and external service information on

the Medipedia platform to have the right value, the qualification of the information author must be verified.

Also, in the case of medical institutions, it is necessary to confirm whether they have the license to perform

medical activities and business certifications. If participants have qualifications to provide a medical service

information and an external service information, the information will have high value and reliability.

Medipedia will operate a hybrid credential system by introducing both a centralized authentication system and

a decentralized authentication system. As a basic authentication system, there are a centralized authentication

system that proves documents [19] [20] issued by existing certification bodies, and a decentralized authentica-

tion system that provides peer-to-peer (P2P) authentication system. In order to increase the credibility of the

P2P system, Medipedia team will ask for deposit from the authenticator and send notification to participate in

the survey to the group of people who have used authenticator’s service. According to the result of the survey,

Separate authentication is required for medical providers and external partner accounts. This is an examination

of the minimum qualification for medical and external service delivery. Medipedia’s participants are not able to

access the accounts of others in any case even if they are family members. This is to prevent theft and theft of

personal information.

The medical provider can request to access the personal information from the medical consumer when the

medical service is requested.



3.2.4 Medipedia Medical Service Consultation and Matching System

Medipedia provides medical service consultation and matching functionality through the Service layer. This is

one of the key functions provided by Medipedia. When a medical consumer makes a request for the desired

medical service on the Medipedia platform, it is transmitted through the Medipedia network and reaches out

to all specialized medical institutions that can provide the desired medical service. After confirming the request,

the medical provider will reply to the medical consumer and start professional medical service consultation

upon the request from the patient. During consultation, the medical consumer obtains accurate information

about the desired medical service and surgical fee, and the medical institution which carries out the consulta-

tion is also thoroughly rewarded. This function solves the fundamental difficulties faced by the above-men-

tioned medical consumers and medical providers.

Medipedia uses the Intel Software Guard Extensions (SGX) [22] system to ensure that even Medipedia search

system administrators do not know about participant information registered in the system and to minimize

personal information exposure to other participants. By using SGX, it is possible to store personal formation

more safely by minimizing the exposure path of participant information by storing and managing all sensitive

information of participants in the enclave.

When a patient raises the medical request through the matching and consultation system on the Medipedia

network, the request is transmitted to all medical providers and Medipedia team will set up notification function

to increase the speed of the communication between patient and medical institution.

authenticator and participants of survey will receive a reward for being honest. Medipedia plans to use

Indorse[21]’s Anonymous Indorsement Protocol to protect the identity of the individual evaluator.



3.2.5 Medipedia Symbiotic System

Medipedia will build a symbiotic system that the platform participants can stimulate their own medical tourism

markets. This is possible by using the data accumulated by decentralization.

All participants can promote and share the information about medical service, new medical technology, and the

past experience of the medical tourism. By sharing this information, all participants can get a better under-

standing of medical tourism and find better solutions to develop medical tourism industry. For example, medi-

cal institutions and other service providers can analyze the medical tourism market to set special strategies that

suit themselves. For medical consumers, they can acquire more information from other medical consumers

before they receive medical treatment.

To activate this symbiotic relationship, Medipedia establishes its own social network to encourage active infor-

mation exchanges among all participants, as well as encourage the honest activities of participants by provid-

ing reward schemes.



4. Token Model

Medipedia publishes a Medipedia Token (MEP) following Ethereum's ERC20 token standard [23]. Medipedia

tokens are used as the main currency of all economic activity within Medipedia platforms. Medipedia also has

a Medipedia Reward (MPR) as well as an MEP. MPR serves as a measure of participation in the Medipedia

platform (a reputation within the ecosystem). MPR is not transferable to other participants and cannot be taken

out of the platform.

The purpose of a rewards systems is to serve as an indicator system that can be used to determine the credibili-

ty of medical consumers and providers and the services of external participants. Hence, MPR is designed to be

used as a measure of contribution of the Medipedia platform ecosystem. However, MPR does not represent the

medical provider's medical achievement or degree of skill. The MPR can be used as a reference in selecting the

services of the healthcare provider and external participants in the medical consumer setting, but should not

be used as an absolute indicator.

MedipediaToken

(MEP) (MPR)

ETH Token(Token Sale)

Only available insideMedipedia

TransferrableTradable

Non TradableCannot leave platform

MedipediaReward



4.1 Medipedia TokenThe Medipedia Token (MEP) is used as follows:

Medipedia can create platform-specific wallets for participants to store participants' tokens and pay for all

economic activities, such as medical service fees, advertising, and external service fees that are performed

within Medipedia platforms. Participants receive the reward program MPR as a reward for their economic activi-

ties on the platform.

MEPs can also be moved out of the platform. The MEP is a token created with a smart contract based on the

ERC20 token standard [23] and can be stored in any personal wallet that supports the ERC20 token standard

[23]. The initial ICO participant's MEP is sent to the personal wallet, so that the Medipedia platform is brought

back to the MEP. Participants may keep the MEP or unused MEP provided by ICO in their personal wallets

according to their personal preferences. The Medipedia team try their best to list on cryptocurrency exchange

after ICO. It is intended to encourage the participation of many medical consumers, healthcare providers and

external participants who are able to trade MEPs between participants outside the platform through the

exchange and who have not yet participated in Medipedia.

PersonalWallet

Exchange MedipediaPlatform



The Medipedia platform has a Medipedia token pool to continuously develop internal ecosystems. Participants

can advertise to other participants via the Medipedia platform, all of which are paid by the MEP and stored in

the Medipedia token pool. The platform fee is basically free, but if the MEP goes through any economic transac-

tion, it will pay a commission fee of 10% which also goes to the Medipedia token pool. Medipedia supports 1GB

of storage (1GB of storage capacity, 1GB / month of bandwidth) for each participant free of charge. Most partic-

ipants will not use more than 1GB of data for photo-sized data, but are expected to stay at about 0.01% of all

participants in healthcare information and media for some healthcare providers. The cost of using the software

is expected to be small based on Storj [25].

Half (50%) of the MEPs gathered in the Medipedia token pools as described above are based on the blockchain

network usage fee (the cost of creating a smart contract for the account), default storage and usage capacity,

and support. It can also be used to support related services and application development for expanding

platform ecosystems. 20% is spent for a case where a participant changes from MPR to MEP, and since this

amount is not constant, the conversion rate from MPR to MEP will continue to change. 20% is used for platform

operation, maintenance and further development. The last 10% allows unfamiliar participants in cryptography

to purchase MEPs directly within the platform instead of trading MEPs on the exchange, thereby providing

access to all economic activities within the platform.

Platform participants, including token holders, will utilize and share medical services and related services

through Medipedia, which will bring together the Medipedia platform to become more powerful and more

valuable. In the end, the Medipedia platform can be seen as a result of the activities of the token holders.

* The numerical information related to the token mechanism can be changed according to the simulation

process and the market situation in the future.

Inflation

Transaction

Advertising

Platform Fee

Operation Fee

Promotion

ReserveMPR → MEP

PurchaseFiat → MEP

MEPPOOL

＋－



4.2 Medipedia Rewards SystemMedipedia Rewards Points (MPR) is a reward point system used to encourage participation on the platform, and

is used as a measure of the contribution of participants. The acquisition and usage of MPR are as follows:

All participants receive a basic MPR when they authenticate the platform participant account. This means the

compensation of the minimum credibility proof required of the participant. In order to acquire the MPR, it is

provided to the participants who have contributed to the development of the value of the platform and the

activation ecosystem of economic activities. In other words, MPR is an indicator of the contribution of partici-

pants, and it may be advantageous to participate in the platform as early as possible and obtain MPR.

The MPR provided by the participant's contribution is as follows:

Many participants can receive MPR if they contribute to the economic activities of other participants by

exchanging beneficial medical information to platform participants through social media and blog service activ-

ities. MPR can also be obtained when the expertise of the participants is recognized. If all participants are confi-

dent that they have a competitive advantage, such as their own strengths, specific abilities, skills, etc., they will

ask their platform to certify their MPR as collateral. In this case, after the Medipedia blockchain network is

searched, an authentication request is sent to other participants using the service of the participant who

desires to recognize the expertise. The participant who receives the certification request decides whether to

participate or not. Certification is conducted by a majority vote. As a result of the voting, the successful partici-

pant receives additional MPR in addition to the MPR paid as collateral, but the MPR paid by the collateral of the

failed participant is extinguished. The MPR is also compensated by honest participants who vote on the same ballot.

The authentication process and method are performed in a similar manner to the Anonymous Indorsement

Protocol using the zero knowledge proof method defined by Indorse [12]. This authentication scheme

promotes the honest platform activity of the participants and the authenticated information can be highly reliable.

Account Creation

Platform Economic Activity

SocialMedia Activity

Stacking onEndorsement

Review Activities

Coupon, Advertisement, Consultation

＋

Time Limit (24 month)Self - Burning

Stacking onEndorsement

Claim Talent

Platform Activity

－

MEP

－(MPR)

MedipediaReward

Equation

20% of MEP

Total Number ofMPR

to be converted


page 32

For medical consumers, the easiest MPR acquisition method after obtaining basic MPR is the economic activity

within the platform. Additional acquisitions may then be made through the interactive review system after the

use of the services of the healthcare provider or external participants. In addition, MPR can be obtained from

new reference accounts or social media activities. Medical consumers also provide MPRs to compensate for the

contribution of more economic activities in more medical markets by exchanging beneficial medical information.

For medical providers, there is a subdivision MPR. The platform participants can confirm the reliability and kind-

ness of the service of the corresponding medical provider by referring to the subdivision MPR. In addition, med-

ical providers also analyze subdivision MPR to identify needs of the medical market, helping to generate reve-

nue for the healthcare workforce and the medical institutions.

The first subdivision MPR is a professional counseling MPR. This MPR is received when a medical consumer is

provided with a medical service professional consultation service. Thereafter, the medical consumer receives

the service MPR when using the medical service. This is the MPR that shows the satisfaction of the medical

service to the medical consumer.

For external participants, an MPR is acquired by providing an external service to the medical consumer. Further

MPR acquisitions are also possible from the interactive review system. External participants also help improve

the quality of external services through MPRs obtained with the interactive review system.

The MPR, which has been acquired by many participants in the Medipedia platform, can purchase coupons or

convert to MEP for medical services and external services. For MPR transformation applications, translation

approval is granted 90 days after application, not immediately converted to MEP. The MPR to MEP conversion

rate formula is 20% of the MPR point amount to be converted and the Medipedia token pool (MEP Token Pool)

stored in the platform. Because this conversion rate depends on the token pool, it can change dynamically

depending on the time, and the predicted conversion rate numerical information is known to the platform in

real time. All converted MPRs are destroyed.

Token Exchange rate = 20% Reserved MEP token pool / total application of conversion MPR.

The validity period of the MPR is 24 months of acquisition and settlement is one month. The meaning of the

validity period is to foster a healthy medical service ecosystem, encourage continued use of the platform, and

prevent unnecessary password inflation due to MPR sleep accounts.



Accurate information related to the sale of tokens will be announced through the following media:

- Website http://medipedia.io

- Facebook https://www.facebook.com/medipediakr

- Twitter https://twitter.com/Medipedia_io_en

- Telegram t.me/medipediaofficial

4.3 Token Generation EventMedipedia's token (MEP) issue is designed to support the development of the Medipedia platform and the crea-

tion of a medical service ecosystem using Ethereum (ETH). Participants will be able to take part using Ethereum

(ETH), Bitcoin (BTC), or Litecoin (LTC). The exact exchange rate of each cryptocurrency is determined by the

market value at the time of purchase. The token paid to participants in a token generation event is approxi-

mately 50% of the total initial publication. About 20 percent of the total token launch is used for future Medipe-

dia development and about 20 percent for Medipedia team and 10 percent for advisors and early investors.

Medipedia TokenDistribution

20%Founding Team

10%Advisors andEarly Investors

50%Supporters(TGE participants)

12%BusinessDevelopment & Bounty

8%Platform R&D



4.3.1 Use of Funds

Funds raised through the ICO will be allocated for following purposes:

Use ofFunds

20%Platform Development

10%Operating &Wage Expenses

30%MarketingPromotion

5%AdministrationExpenses

5%Legal Expenses

10%Securities Deposit

20%Business Development and Partnership



5. Future RoadMap

5.1 Platform RoadmapThe major development plans for the Medipedia Platform are as follows.:

The Medipedia project starts form the publish of a first whitepaper in June 2018. The team enter second phase

with the release of Proof of Concept(PoC) and prototype platform on the website disclosing future blueprints

of Medipedia project. Website upgrade is done for the preparation of pre-sale which launches from 20th of

August 2018 00:00 GMT. The team also release updated version of whitepaper with technical modification to

develop complete medical tourism ecosystem platform. The ICO will be split into two rounds, 1st ICO will launch

8th of Octber 2018 00:00GMT and 2nd ICO will launch 12th of November 2018 00:00 GMT. During the pre-sale,

participants will receive 20% bonus and during the ICO, participants will receive 10% and 5% bonus, respectively.

The project enters third phase with Launch of Medipedia alpha version platform in March 2019. Alpha version

platform will cover matching and consultation system with 5 different medical department. Three month later

Beta version will be released with additional feature and medical department such as social media and inter-

pretation service. The Official version will launch in September 2019 and address all the features that have

address on the whitepaper to build complete medical tourism ecosystem.

Global expansion and release E-commerce market will occur during the fourth phase. Medipedia team has plan

to partner with global medical institutions to export Medipedia platform in Thailand and USA. E-commerce

market will help for medical institutions and pharmaceutical companies to sell their product for the patient

such as cosmetic product for dermatology.

PHASE 1 PHASE 2 PHASE 3 PHASE 4 PHASE 506. 2018- Publication of

Whitepaper Ver.01

07. 2018- PoC Release

- Prototype Platform Release- Website upgrade to Beta

03. 2019- Medipedia Alpha Ver. Platform release

(Matching & Consultation System)

1st quarter/2020- Preparation of

Medipedia global Expansion- Introducing E-commerce market (Dermatology, Cosmetic product)

1st quarter/2021- Establish Medical Blockchain Alliance

(Allow transaction of othertokens within alliance platform)

2nd quarter/2020- Launch Medipedia Global platform

(Thailand & USA)

08. 2018- Pre-Sale (20/08/2018 00:00 GMT)- Publication of Whitepaper Ver.02

06. 2019- Medipedia Beta Ver. Platform release

- (Supporting moremedical department)

- (Other service application(Social Media, Interpreter))

09. 2019- Medipedia Official Ver. Platform release

- (Supporting all department)- (Supporting more of

other service application (Insurance,medical alliance, travel service))

10. 2018- 1st ICO sale

(08/10/2018 00:00 GMT)

11. 2018- 2nd ICO sale

(12/11/2018 00:00 GMT)



Medipedia team has great vision to establish medical blockchain alliance. This is done through partnership with

various medical blockchain project. By doing this, Medipedia team will develop a system where MEP token can

be used other project platform. This creates greater liquidity and market capitalization of Medipedia project as

well as other medical blockchain project as well.

Publication of Whitepaper Ver.0106/2018PHASE 1

PHASE 2 PoC ReleasePrototype Platform ReleaseWebsite upgrade to Beta

07/2018

PHASE 3 Medipedia Alpha Ver. Platform releaseMatching & Consultation SystemSupporting 5 medical department(plastic surgeons, comprehensive screenings, dental groups, OBGYN, Ophthalmology)

03/2019

PHASE 4 Preparation of Medipedia global expansionIntroducing E-commerce market (Dermatology, Cosmetic product)

1st quarter/2020

PHASE 5 Establish Medical Blockchain Alliance(Allow transaction of other tokens within alliance platform)

1st quarter/2021

Launch Medipedia Global platform(Thailand & USA)

2nd quarter/2020

Medipedia Beta Ver. Platform releaseSupporting more medical departmentOther service application (Social Media, Interpreter)

06/2019

Medipedia Official Ver Platform releaseSupporting all departmentSupporting more of other service application(Insurance, medical alliance, travel service)

09/2019

Pre-Sale - 20/08/2018 00:00 GMTPublication of Whitepaper Ver.02

08/2018

1st ICO sale - 08/10/2018 00:00 GMT10/2018

2nd ICO sale - 12/11/2018 00:00 GMT11/2018



6. Teams & Advisors

6.1 Management Team

- More than 9 years of experience in software development and blockchain development

- Developed Distributed systems, RESTful architectures and scalable, low-latency systems that provide high availability of applications for investment banks such as Barclays, HSBC and BNY Mellon

- M.Sc in Information Technology and Management at Symbiosis International University

- B.Sc in Information Technology atRavenshaw University

- Chief Operating Officer- Chief Technology Officer - Chief Community Manager

- Vice President at TS BIO

- Worked for Medison, Hanbyul Medi Tech, BHL, KMH, Celltrap

- In charge of 2 more projects as community manager

- B.A in Business and English

- Worked for DSME inBusiness dpt and Samsung

- B.A in Architectures atHanyang University

Taeyong Kim- Co-Founder & Chief Executive Officer

- Worked for Citibank, Amazon, WeissBeerger

- M.B.A at University of Michigan

- M.S in Business Analytics atPurdue University

- B.A in Applied Statistics atYonsei University

Lingraj Mahanand Kyoung Sik Ban Yerim Cha

- Co-Founder & Chief Financial Officer

- Worked for KPMG

- CPA Australia (Ass)

- M. Fin at University of Melbourne

- B. Com in Accounting and Finance at University of Melbourne

Yun Seob Lucas Kim



6. Teams & Advisors

6.2 Advisors & Partners

- Hospital director at Miso Medical Clinic

- Adjunct Professor at Eulji University Hospital

- Member of the Korean Association of Internal Medicine / the study of the Liver

- Member of the Korean Society of Gastrointestinal Endoscopy

- Member of the Korean Endocrine Society

- Member of the Korean Diabetes Association

- Member of the Korean Society ofClinical Chemistry

- M.D Internal Medicine Specialist

Dong Ho Kim- Hospital director at

Mirpia Women’s Hospital

- Adjunct Professor at Chosun University Hospital

- Adjunct Professor at Muan Hospital

- Former Hospital director atGwangju Pyeonghwa Women’s Clinic

- Member of the Korean Society of Obstetrics and Gynecology

- M.D Obstetrics Specialist

- M.D Obstetrics Specialist

- M.D Mental Health Specialist

- Hospital director atCheongna Women’s Hospital

- Adjunct Professor atGacheon University Gil Medical Center

- Member of the Korean Society of Obstetrics and Gynecology

- The managing partner ofRessos Legal Pte. Ltd.

- An international corporate and tax lawyer practising in both Singapore and Hong Kong

- Dr. Ressos has extensive experience in advising ICO clients

- Member of the Korean Society of Perinatology

- Member of the Korean Society of Gynecologic Endoscopy and Minimally Invasive Surgery

- Member of the Korean Society of Gynecologic Oncology

- Hospital Director atDasarang Alcohol Hospital

- Board of directors ofthe Medical Association of Gwangju

- Chairman of the Committee forBasic Mental Health and Evaluation

- Director of the Korean Academy of Addiction Psychiatry

- Adjunct Professor atChosun University Medical School

- Auditor of alumni association and scholarship foundation of Chosun University Medical School

- Counsellor of the driver's license test board of the Cheon-Nam NationalPolice Agency

Seong Un Jeong Moon Seong Son

- Marketing Advisor

- Chief Marketing Officer atInternxt where he oversees the entire marketing efforts. He also has been a content writer for several big projects such as: Snovio and Bitcoin Cash (Bitcoin.com).His unique experience and involvement in the crypto community makes his skill set extremely valuable for Mediapedia.

Conor Doyle Alexander Ressos

In Bok Hwang



1

7. Reference

‘A study on Analysis and Development of Curriculum for Departments of medical Tourism Based on Industry Needs, 2016. [Internet]. Available: http://www.sersc.org/journals/AJMAHS/vol6_no10_2016/9.pdf,

2 ‘The Effect of Service Quality during Medical Tour of Chinese on the Satisfac-tion and Revisit Intention’, 2017. [Internet]. Available: http://www.paper-search.net/thesis/article.asp?key=3568569

3 ‘An Analysis of the Importance-Satisfaction of Convergent Medical Tourism Service Quality, 2015. [Internet]. Available: http://www.earticle.net/Arti-cle.aspx?sn=251006

4 Deloitte. “2017 global health care sector outlook”, 2017. [Internet]. Available: https://www2.deloitte.com/global/en/pages/life-scienc-es-and-healthcare/articles/global-health-care-sector-outl ook.html

5 Korean Medical Tourism Marketing 2016, Jeong CS (한국�의료관광�마케팅 2016, 정찬수) [Internet]. Available:

6 Density of physicians (total number per 1000 population, latest available year),2018. [Internet]. Available: http://www.who.int/gho/health_work-force/physicians_density/en/

7 Medical Tourism Global Market and Figures 2018, Ian Youngman, 2018, [Internet]. Available: https://www.researchandmarkets.com/re-ports/4519223/medical-tourism-global-market-and-figures-2018

8 Smartphone application, Goodoc, 2018. [internet]. Available: https://www.-goodoc.co.kr/themes?category_id=223&list_open=1&selected=1

9 Sanitary cleaning incident Gastroscope, 2006, [Internet]. Available: http://news.joins.com/article/2406525



10

7. Reference

The Problem of Rarity: Estimation of Prevalence in Rare Disease, 2018 [Inter-net]. Available: https://www.valueinhealthjournal.com/arti-cle/S1098-3015(18)30272-9/abstract

11 Summary of the HIPAA Security Rule [Interent]. 2018. Availablet: https://ww-w.hhs.gov/hipaa/for-professionals/security/laws-regulations/index.html

12 External user credential system, travel business certificate, 2018 [Internet]. Available: http://www.mcst.go.kr/usr/minwon/eMinwon/formatCivil/format-Civil/formatView.jsp?pSeq=23&pCmd=VIEW

13 Interpretation service credential system, interpreter license, 2018 [Internet]. Available: http://www.kotga.or.kr/guide/certificate.php

14 Interpretation service credential system, foreign language certificate, 2018 [internet]. Available: http://license.korcham.net/kor/license/guide.-jsp?cd=0403&mm=52

15 Ethereum [Internet]. Available:https://www.ethereum.org/

16 Quantum [Internet]. Available: https://www.quantumproject.org/

17 EOS [Internet]. Available: https://eos.io/

18 InterPlanetary File System(IPFS) [Internet]. Available: https://ipfs.io/



19

7. Reference

JCI (Joint Commision International) Accreditation Program, 2018. [Internet]. Available: https://www.jointcommissioninternational.org/achieve-accredi-tation/;

20 Accreditation Program for Healthcare Organization, 2018. [Internet]. Availa-ble: https://www.koiha.or.kr/member/en/contents/ensub02/ensub-02_01_01.do

21 Anonymous Indorsement Protocol, Indorse.Decentralized Professional Network, 2018. [Internet] Available: https://indorse.io

22 Intel Software Guard Extensions(SGX), 2017 [Internet]. Available: https://soft-ware.intel.com/en-us/node/708921

23 ERC 20 Token Standard - The Ethereum Wiki, 2018 [Internet]. Available: https://theethereum.wiki/w/index.php/ERC20_Token_Standard

24 Cryptocurrency inflation - Let's look at coin inflation, 2017.[Internet]. Availa-ble: https://steemit.com/kr/@maa/let-s-look-at-coin-inflation

25 Storj, [Internet] Available: https://storj.io/



8. DisclaimerIMPORTANT NOTICEPLEASE READ THIS SECTION AND THE FOLLOWING SECTIONS ENTITLED "DISCLAIMER OF LIABILITY", "NO REPRESENTATIONS AND WARRANTIES", "REPRESENTATIONS AND WARRANTIES BY YOU", "CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS", "MARKET AND INDUSTRY INFORMATION AND NO CONSENT OF OTHER PERSONS", "NO ADVICE", "NO FURTHER INFORMATION OR UPDATE", "RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION", "NO OFFER OF SECURITIES OR REGISTRATION" AND "RISKS AND UNCERTAINTIES" CAREFULLY.

IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR LEGAL, FINAN-CIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S).

To the maximum extent permitted by the applicable laws, regulations and rules, Medipedia and/or the Distributor shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (includ-ing but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this Whitepaper or any part thereof by you.

A. DISCLAIMER OF LIABILITY

Medipedia and/or the Distributor does not make or purport to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any representation, warranty or undertaking in relation to the truth, accuracy and completeness of any of the information set out in this Whitepaper.

B. NO REPRESENTATIONS AND WARRANTIES

The Mediapedia Tokens ("MEP"/the "tokens") are not intended to constitute securities in any jurisdiction. This Whitepaper does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction.This Whitepaper does not constitute or form part of any opinion on any advice to sell, or any solicitation of any offer by Medipedia SG Pte. Ltd. ("Medipedia") or Maru Foundation Ltd. (“Maru”) or the distributor/vendor of the MEP tokens (the "Distributor") to purchase any MEP tokens nor shall it or any part of it nor the fact of its presentation form the basis of, or be relied upon in connection with, any contract or investment decision. The Distributor will be an affiliate of Medipedia, and will deploy all proceeds of sale of the MEP tokens to fund the cryptocurrency project, businesses and operations of both Medipedia and its affiliated entities.No person is bound to enter into any contract or binding legal commitment in relation to the sale and purchase of the MEP tokens and no cryptocurrency or other form of payment is to be accepted on the basis of this Whitepaper.Any agreement as between the Distributor and you as a purchaser, and in relation to any sale and purchase, of MEP tokens (as referred to in this Whitepaper) is to be governed by only a separate document setting out the terms and conditions (the "T&Cs") of such agreement. In the event of any inconsistencies between the T&Cs and this Whitepaper, the former shall prevail.You are not eligible and you are not to purchase any MEP tokens in the Medipedia Initial Coin Offering (as referred to in this Whitepaper) if you are a citizen, resident (tax or otherwise) or green card holder of the United States of America or a citizen.No regulatory authority has examined or approved of any of the information set out in this Whitepaper. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this Whitepaper does not imply that the applicable laws, regulatory requirements or rules have been complied with.There are risks and uncertainties associated with Medipedia and/or the Distributor and their respective businesses and operations, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in this White-paper).This Whitepaper, any part thereof and any copy thereof must not be taken or transmitted to any country where distribution or dissemination of this Whitepaper is prohibited or restricted.No part of this Whitepaper is to be reproduced, distributed or disseminated without including this section and the following sections entitled "Disclaimer of Liability", "No Representations and Warranties", "Representations and Warranties By You", "Cautionary Note On Forward-Looking Statements", "Market and Industry Information and No Consent of Other Persons", "Terms Used", "No Advice", "No Further Information or Update", "Restrictions On Distribution and Dissemination", "No Offer of Securities Or Registration" and "Risks and Uncertainties".



By accessing and/or accepting possession of any information in this Whitepaper or such part thereof (as the case may be), you represent and warrant to Medipedia and/or the Distributor as follows:

you agree and acknowledge that the MEP tokens do not constitute securities in any form in any jurisdiction;(a)

you agree and acknowledge that this Whitepaper does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities in any jurisdiction or a solicitation for investment in securities and you are not bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment is to be accepted on the basis of this Whitepaper;

(b)

you agree and acknowledge that no regulatory authority has examined or approved of the information set out in this Whitepaper, no action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction and the publication, distribution or dissemination of this Whitepaper to you does not imply that the applicable laws, regulatory requirements or rules have been complied with;

(c)

you agree and acknowledge that this Whitepaper, the undertaking and/or the completion of the Medipedia Initial Coin Offering, or future trading of the MEP tokens on any cryptocurrency exchange, shall not be construed, interpreted or deemed by you as an indication of the merits of the Medipedia and/or the Distributor, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in this Whitepaper);

(d)

the distribution or dissemination of this Whitepaper, any part thereof or any copy thereof, or acceptance of the same by you, is not prohibited or restricted by the applicable laws, regulations or rules in your jurisdiction, and where any restrictions in relation to possession are applicable, you have observed and complied with all such restrictions at your own expense and without liability to Medipedia and/or the Distributor;

(e)

you agree and acknowledge that in the case where you wish to purchase any MEP tokens, the MEP tokens are not to be construed, interpreted, classified or treated as:

(f)

you are fully aware of and understand that you are not eligible to purchase any MEP tokens if you are a citizen, resident (tax or otherwise) or green card holder of the United States of America or a citizen or resident of the Repub-lic of Singapore;

(g)

you have a basic degree of understanding of the operation, functionality, usage, storage, transmission mechanisms and other material characteristics of cryptocurrencies, blockchain-based software systems, cryptocurrency wallets or other related token storage mechanisms, blockchain technology and smart contract technology;

(h)

you are fully aware and understand that in the case where you wish to purchase any MEP tokens, there are risks associated with Medipedia and the Distributor and their respective business and operations, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in the Whitepaper);

(i)

you agree and acknowledge that neither Medipedia nor the Distributor is liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this Whitepaper or any part thereof by you; and

(j)

you agree and acknowledge that neither Medipedia nor the Distributor is liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this Whitepaper or any part thereof by you; and

(j)

all of the above representations and warranties are true, complete, accurate and nonmisleading from the time of your access to and/or acceptance of possession this Whitepaper or such part thereof (as the case may be).

(k)

any kind of currency other than cryptocurrency;(i)debentures, stocks or shares issued by any person or entity (whether Medipedia and/or the Distributor)(ii)rights, options or derivatives in respect of such debentures, stocks or shares;(iii)

units in a collective investment scheme;(v)units in a business trust;(vi)derivatives of units in a business trust; or(vii)any other security or class of securities.(viii)

rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss;

(iv)

C. REPRESENTATIONS AND WARRANTIES BY YOU



changes in political, social, economic and stock or cryptocurrency market conditions, and the regulatory environ-ment in the countries in which Medipedia and/or the Distributor conducts its respective businesses and operations;

(a)

the risk that Medipedia and/or the Distributor may be unable or execute or implement their respective business strategies and future plans;

(b)

changes in interest rates and exchange rates of fiat currencies and cryptocurrencies;(c)

changes in the anticipated growth strategies and expected internal growth of Medipedia and/or the Distributor;(d)

changes in the availability and fees payable to Medipedia and/or the Distributor in connection with their respective businesses and operations;

(e)

changes in the availability and salaries of employees who are required by Medipedia and/or the Distributor to operate their respective businesses and operations;

(f)

changes in preferences of customers of Medipedia and/or the Distributor;(g)

changes in competitive conditions under which Medipedia and/or the Distributor operate, and the ability of Medipe-dia and/or the Distributor to compete under such conditions;

(h)

changes in the future capital needs of Medipedia and/or the Distributor and the availability of financing and capital to fund such needs;

(i)

war or acts of international or domestic terrorism;(j)

occurrences of catastrophic events, natural disasters and acts of God that affect the businesses and/or operations of Medipedia and/or the Distributor;

(k)

other factors beyond the control of Medipedia and/or the Distributor; and(l)

any risk and uncertainties associated with Medipedia and/or the Distributor and their businesses and operations, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in the Whitepaper).

(m)

All statements contained in this Whitepaper, statements made in press releases or in any place accessible by the public and oral statements that may be made by Medipedia and/or the Distributor or their respective directors, executive officers or employees acting on behalf of Medipedia or the Distributor (as the case may be), that are not statements of historical fact, constitute "forward-looking statements". Some of these statements can be identified by forward-looking terms such as "aim", "target", "anticipate", "believe", "could", "estimate", "expect", "if", "intend", "may", "plan", "possible", "probable", "project", "should", "would", "will" or other similar terms. However, these terms are not the exclusive means of identifying forward-looking statements. All statements regarding Medipedia’s and/or the Distributor’s financial position, business strategies, plans and prospects and the future prospects of the industry which Medipedia and/or the Distributor is in are forward-looking statements. These forward-looking statements, including but not limited to statements as to Medipedia’s and/or the Distributor’s revenue and profitability, prospects, future plans, other expected industry trends and other matters discussed in this Whitepaper regarding Medipedia and/or the Distributor are matters that are not historic facts, but only predictions.These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results, performance or achievements of Medipedia and/or the Distributor to be materially different from any future results, performance or achievements expected, expressed or implied by such forward-looking statements. These factors include, amongst others:

All forward-looking statements made by or attributable to Medipedia and/or the Distributor or persons acting on behalf of Medipedia and/or the Distributor are expressly qualified in their entirety by such factors. Given that risks and uncertainties that may cause the actual future results, performance or achievements of Medipedia and/or the Distributor to be materially different from that expected, expressed or implied by the forward-looking statements in this Whitepaper, undue reliance must not be placed on these statements. These forward-looking statements are applicable only as of the date of this White-paper.Neither Medipedia, the Distributor nor any other person represents, warrants and/or undertakes that the actual future results, performance or achievements of Medipedia and/or the Distributor will be as discussed in those forward-looking

D. CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS



This Whitepaper includes market and industry information and forecasts that have been obtained from internal surveys, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Such surveys, reports, studies, market research, publicly available information and publications generally state that the information that they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information.Save for Medipedia, the Distributor and their respective directors, executive officers and employees, no person has provid-ed his or her consent to the inclusion of his or her name and/or other information attributed or perceived to be attributed to such person in connection therewith in this Whitepaper and no representation, warranty or undertaking is or purported to be provided as to the accuracy or completeness of such information by such person and such persons shall not be obliged to provide any updates on the same.While Medipedia and/or the Distributor have taken reasonable actions to ensure that the information is extracted accurate-ly and in its proper context, Medipedia and/or the Distributor have not conducted any independent review of the informa-tion extracted from third party sources, verified the accuracy or completeness of such information or ascertained the underlying economic assumptions relied upon therein. Consequently, neither Medipedia, the Distributor, nor their respec-tive directors, executive officers and employees acting on their behalf makes any representation or warranty as to the accuracy or completeness of such information and shall not be obliged to provide any updates on the same.

E. MARKET AND INDUSTRY INFORMATION AND NO CONSENT OF OTHER PERSONS

To facilitate a better understanding of the MEP tokens being offered for purchase by the Distributor, and the businesses and operations of Medipedia and/or the Distributor, certain technical terms and abbreviations, as well as, in certain instanc-es, their descriptions, have been used in this Whitepaper. These descriptions and assigned meanings should not be treated as being definitive of their meanings and may not correspond to standard industry meanings or usage.Words importing the singular shall, where applicable, include the plural and vice versa and words importing the masculine gender shall, where applicable, include the feminine and neuter genders and vice versa. References to persons shall include corporations.

F. TERMS USED

No information in this Whitepaper should be considered to be business, legal, financial or tax advice regarding Medipedia, the Distributor, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in the Whitepaper). You should consult your own legal, financial, tax or other professional adviser regarding Medipedia and/or the Distributor and their respective businesses and operations, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in the Whitepaper). You should be aware that you may be required to bear the finan-cial risk of any purchase of MEP tokens for an indefinite period of time.

G. NO ADVICE

No person has been or is authorised to give any information or representation not contained in this Whitepaper in connec-tion with Medipedia and/or the Distributor and their respective businesses and operations, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in the Whitepaper) and, if given, such information or representation must not be relied upon as having been authorised by or on behalf of Medipedia and/or the Distributor. The Medipedia Initial Coin Offering (as referred to in the Whitepaper) shall not, under any circumstances, constitute a continu-ing representation or create any suggestion or implication that there has been no change, or development reasonably likely to involve a material change in the affairs, conditions and prospects of Medipedia and/or the Distributor or in any statement of fact or information contained in this Whitepaper since the date hereof.

H. NO FURTHER INFORMATION OR UPDATE

The distribution or dissemination of this Whitepaper or any part thereof may be prohibited or restricted by the laws, regula-tory requirements and rules of any jurisdiction. In the case where any restriction applies, you are to inform yourself about, and to observe, any restrictions which are applicable to your possession of this Whitepaper or such part thereof (as the case may be) at your own expense and without liability to Medipedia and/or the Distributor.

I. RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION

statements. The actual results, performance or achievements of Medipedia and/or the Distributor may differ materially from those anticipated in these forwardlooking statements.Nothing contained in this Whitepaper is or may be relied upon as a promise, representation or undertaking as to the future performance or policies of Medipedia and/or the Distributor.Further, Medipedia and/or the Distributor disclaim any responsibility to update any of those forwardlooking statements or publicly announce any revisions to those forward-looking statements to reflect future developments, events or circumstanc-es, even if new information becomes available or other events occur in the future.



This Whitepaper does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. No person is bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment is to be accepted on the basis of this White-paper. Any agreement in relation to any sale and purchase of MEP tokens (as referred to in this Whitepaper) is to be governed by only the T&Cs of such agreement and no other document. In the event of any inconsistencies between the T&Cs and this Whitepaper, the former shall prevail.You are not eligible to purchase any MEP tokens in the Medipedia Initial Coin Offering (as referred to in this Whitepaper) if you are a citizen, resident (tax or otherwise) or green card holder of the United States of America or a citizen or resident of the Republic of Singapore.No regulatory authority has examined or approved of any of the information set out in this Whitepaper. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this Whitepaper does not imply that the applicable laws, regulatory requirements or rules have been complied with.

J. NO OFFER OF SECURITIES OR REGISTRATION

Prospective purchasers of MEP tokens (as referred to in this Whitepaper) should carefully consider and evaluate all risks and uncertainties associated with Medipedia, the Distributor and their respective businesses and operations, the MEP tokens, the Medipedia Initial Coin Offering and any Medipedia Wallet (each as referred to in the Whitepaper), all information set out in this Whitepaper and the T&Cs prior to any purchase of MEP tokens. If any of such risks and uncertainties develops into actual events, the business, financial condition, results of operations and prospects of Medipedia and/or the Distributor could be materially and adversely affected. In such cases, you may lose all or part of the value of the MEP tokens.

K. RISKS AND UNCERTAINTIES

Persons to whom a copy of this Whitepaper has been distributed or disseminated, provided access to or who otherwise have the Whitepaper in their possession shall not circulate it to any other persons, reproduce or otherwise distribute this Whitepaper or any information contained herein for any purpose whatsoever nor permit or cause the same to occur.



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GRiiiD Medipedia WhitePaper-Version-2(EN) · 2018-09-13 · 3.2.3 Medipedia Participants Credential...

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