MEXC is the utility token for the Emergency Medical Services (EMS) sector. The firm reportedly holds 36 intellectual properties.
It is created to fill the gap in the Medical industry, especially by using Blockchain technology for transparent, immutable records and secure transactions.
The token is utilised in purchasing these patented, and patent-pending equipment and solutions to preserve lives in disasters or casualties. MOHD Hisham Ismail, Deputy CEO at MEXC, told QT that, it is the only token for the EMS Industry, a market which is valued at $7 billion and their IP covers over 90 per cent of that market.
“Since we are bridging the gap between the crypto world, and the EMS business world by tokenising our EMS business, any sales from our EMS business shall be translated into MEXC Token market capitalisation – that is by putting our profits to support MEXC Token. Long term investors shall translate into this business model as an excellent hedge for their crypto portfolio.”
Moreso, the project is among the few who implemented the dual-token approach in their business model. The MEXC Token is the trading token, and MX Token is the token used by distributors to purchase their products.
“This is important to secure our distributors from the volatility of the crypto market,” Ismail pointed out. “Our distributors can covert the MX Token to fiat currencies, as well as convert their MX tokens to MEXC tokens when they see the opportunity, for example, when a dip in MEXC Token price occurs.”
So, the MEXC token runs on the ERC20 specifications for its fungibility. However, the MX Token is running on the Versa Enterprise Blockchain, complete with Enterprise Resource Planning (ERP) functionalities, which uses time-unbounded Practical Byzantine Fault Tolerance algorithm for fast execution and finality of transactions.
Ismail unveiled that the ERP algorithm enables their Blockchain to process 5,000 transactions per second at the moment, maintaining that their blockchain-based ERP platform is a novelty.
“It is a decentralised system whereby all processes, from sales to manufacturing, and delivery of the products are mapped, tracked and monitored to ensure transparent processes, non-repudiation, as well as secure traceability on the Ethereum network through the use of Ethereum Smart Contracts,” he said.
When QT asked the deputy CEO about their plans for the next five years, he replied that is too long for the crypto world. “We are going to ensure our Intellectual Property Rights are registered in every country, and our R&D facilities would add more patents in the future,” he disclosed.
Moreover, the company will file for EU and US market certifications, which takes two-three years to go through the stringent processes. Their MX Token eco-system would likewise be expanded to include new and emerging Medical Industry segments by tokenising their use.
“We shall add a few more industries into this eco-system, where the final picture would be MX as the definitive token for the Medical and its related industries, with cross-chain functionalities and transactions,” Ismail hinted. “We are expanding into Financial segments as medical costs can be expensive, and we have to trim all the unwanted fats to make our offerings cheaper for the world to use.”
Message To MEXC Community
No Cryptocurrency would flourish without a robust community behind it. This was the MEXC team’s message to their supportive community:
“MEXC is backed by a real business, a big market, and the ever-expanding possibilities from the MX Token eco-system. Purchasing MEXC is an excellent long-term investment as it is backed by our business revenues, where the profits from our business shall be used to support MEXC Token market capitalisation. Not many tokens or coins can offer a similar business.”