[By Lee Jung Hoon Edaily Reporter]
A new cryptocurrency that can be used to pay for plastic surgery, dentistry, dermatology, gynecology, mental health, more have been attracting a lot of interest. Cryptocurrency has been accepted as a method of payment in the past, however, this is the first time in the world to utilize cryptocurrency as a payment method for medical services and treatment cost.
Singapore ICO Platform PTE. LTD. and MD Square signed a Memorandum of Understanding (MOU) on the 8th to enable cross use between iCrowd Coin (ICC) and TMED. Kim Byung Gun, chairman of ICO Platform said, "Probably starting this coming fall, both cryptocurrencies will be used like fiat currency in plastic surgery clinics in major cities of Asia such as Singapore, Beijing, Shanghai, Jakarta, Seoul and more. Also, it will be used in seven dental clinics in Korea including Ever Smile Dental Group and Chungdam Bright Smile Dental Clinic as well as medical clinics within the MD square network, including dermatology, obstetrics, gynecology, neurosurgery."
"It means that patients in Singapore, Korea, and other international countries can use ICC or TMED to pay for medical care and treatment at the clinics within the Network," explained Oh Soo Hwan, president of MD Square.
ICO Platform is a blockchain based crowdfunding platform established in Singapore in August last year by Kim Byung Gun, CEO of BK Medical Group. We support and consult startups that are raising business funds with a new business model. We help with Singapore corporate registration and act as angel investor,venture capitalist, and accelerator. In addition, we will create our own international cryptocurrency exchange, which will list new coins for corporate customers. We will also launch a collective intelligence social portal service that compensates for providing opinions and expert advice.
Kim was the only South Korean plastic surgeon to be introduced in the British BBC broadcast documentary called 'Plastic Surgery Capital of the Word' at the beginning of this year on January 10th. He was specifically chosen to be part of the documentary by the BBC film crew. Kim was also very successful and well known for his eye in investing. He is the fifth largest shareholder of Bithum and the second largest shareholder of Hugel, a KOSDAQ listed corporation. In addition, he is the third largest shareholder of Finger, which is the number one financial system consolidation (SI) in korea.
MDSquare was founded by Oh Soo Hwan, a graduate of Yonsei University and CEO of Eversmile Dentistry. It is a blockchain based telemedicine consulting platform that was established in May 2016. Last year in August they launched an app called "병원갈때 (MDtalk)" which is currently available for use by the public. Clinics that are affiliated to the network will be able to use TMED and ICC coin as a form of payment.
Lee Jung Hoon (futures@edaily.co.kr)