The age-old saying, health is wealth, has been said for a reason. A healthy person can perform physical and mental tasks, earn bread for family and generally live a better life. Compared to this, an ill person may not be able to do things as efficiently or even none at all. The mental and physical pain associated with ill health is also a damaging factor.
Unless very slightly ill, medication is the first line of defense against illness. Even something as small as a headache require a painkiller. Unfortunately, millions of people around the world cannot afford medication due to its high cost. An analysis of cost factors show that it is not the production or distribution of medicines, but the money invested in research and development that accounts for the high prices. Clinical trials are expensive and time consuming. Pharmaceuticals and laboratories spend millions of dollars’ worth to study the effect and get final approval from regulatory boards for bringing one single medicine into the market.
ClinTex Project
ClinTex, an Ethereum based blockchain project, has designed its Clinical Trial Intelligence (CTi) platform that is bringing clinical trials to the age of decentralization. The platform revolutionizes the medicinal drug market by cutting down significant time and money that is injected in a trial set of a drug.
The platform has developed seven different applications, each aimed at a particular phase of medicine trials. Each application has a specific role to play, weeding out inefficiencies in the system and giving proactive solutions to problems that may arise. The platform uses advanced machine learning to predict escalations and errors in the trials and suggest mitigation options even before the issue has arisen.
Using open access to the results and issues faced, the platform allows any medical trial company to access previous data and see if any trial they want is already done. This will save a lot of time and money.
Along with this, the platform’s AI can predict results and let the team prepare for them. If the results do outcome as predicted, the team can go ahead with the next phase without actually needing to go through each data set to verify it. The AI can also inform of any anomalies to look out for so the team is also prepared for it and catch it at the very beginning.
Blockchain Power
Apart from the platform’s applications that drive towards efficiency and prediction, the core of the platform’s performance lies in its technology: blockchain. The infamous technology that powers bitcoin, Ethereum and countless others leverages the platform with extreme cost savings.
With an immutable database, the platform’s results cannot be manipulated. This means the results are accurate and on point. The peer 2 peer nature of blockchain cuts out intermediaries that just coordinate data and trials and take a hefty commission for it. An always online and extremely low cost network further reduces cost and time. Smart contracts employed mean that many tasks are automatically executed and completed, further reducing human errors and delays.
The two punch power of blockchain and artificial intelligence truly sets ClinTex apart. The platform is poised to reduce millions of dollars in trials and make medicine cheaper for patients to use.
ClinTex TGE
As means of increasing efficiency, the platform also has its own native token, called the CLX. CLX’s primary role is to facilitate the many different entities, individuals and organizations that must interact over a course of a medical trial. The four phases of trials connect doctors, professionals, pharmacists, laboratories, hospitals, clinics and other individuals and companies and even patients as a test drug moves from research into actual testing and eventually approval.
In all this, money is paid in the form of services required. Traditional money and its routing can be painfully slow, expensive and time consuming. CLX as a native token acts as a medium of exchange within the platform. Harnessing the speed, efficiency and security of blockchain, the CLX token can be used to instantly pay out for services required. From pharmaceutical companies to individual nurses and medical professionals, everyone on the platform can earn the CLX token.
For distribution of the tokens, a Token Generation Event will be held on the platform. The TGE will run for nearly a month in the last quarter of 2018. The base price of CLX token is USD 0.1 and more than 366 million tokens will be available during the course of the event, with a soft cap of USD 4 million and a hard cap at USD 17 million. Any tokens that will not be acquired by investors will be destroyed in order to preserve the value of CLX.
During the sale, CLX will be available against bitcoin, Ethereum, Binance Coin and specific fiat (through visa or mastercard).
With its revolutionary vision, ClinTex will change how clinical trials occur and usher in a new era of efficiency, speed and accuracy, making medication affordable again.
Visit https://www.clintex.io/
