CareX conducts first crypto healthcare transaction in Texas, raises over $10 million

February 8, 2018

HOUSTON, February 8, 2018 – Before its Initial Coin Offering (ICO) has finished, CareX Blockchain Platform tokens are already being used to purchase healthcare services.

As the Houston Business Journal reported, the first CARE Token transaction took place on February 5. Pinto Walia used 450 CARE ($4,500 USD) to get stem cell therapy from Dr. Naz Keshwani, who runs a medical practice in Houston, Texas. Dr. Keshwani will accept CARE in addition to other forms of payment and offer a steep discount as a result.

 “It’s exciting,” Keshwani told the Houston Business Journal. “I feel like I’m on the forefront.”

CARE Tokens are pegged at $10 USD for the duration of the token sale. When investments reach 20 million USD, the price will rise to $20 USD before going on crypto exchanges later in the year.

“We are carefully managing the process of joining exchanges to avoid volatility,” said CareX CEO Mike Bishop.

Besides accepting new patients and token investors, CareX is actively recruiting medical providers interested in receiving CARE payments in return for their services.

“Patients can now use CARE tokens with any provider that will accept them,” explains Bishop. “We will now be focused on growing that network.”

CareX is much more than a new payment method on a blockchain. CareX patients can also store their medical records, sharing them with any doctor in an instant.

“Having easy access to health records give patients the freedom to choose their provider,” said Bishop. “When providers start competing for patients, everybody wins.”

By accepting tokens, providers will get free access to the CareX suite of products, including analytics software that helps manage the administrative side of their business, saving lots of time and money. They also get access to the global network of patients interested in getting services.

“The more patients I can see, the cheaper my costs per patient could be,” said Dr. Ilyas Benchalaa, a CareX associated physician. “That’s a virtuous cycle which could really benefit everyone I work with.”

CareX has already raised over $10 million towards the project. The token sale is still ongoing, accepting BTC, LTC, ETH and US Dollars.

Blockchain Healthcare Review reports on the technical innovation of blockchain technology and how it is reshaping the future of HIT data governance. The online periodical is dedicated to educating blockchain technology entrepreneurs, investors and enthusiasts alike and recently partnered with Partners in Digital Health to launch a dedicated peer reviewed blockchain research publication. Blockchain Healthcare Review regularly consults with investors, advises blockchain startups and produces research for key decision makers in the healthcare, clinical, pharmaceutical and biomedical engineering lines of business.