Quadrant Token aims to create “a new paradigm for healthcare and blockchain investing.” Find out what that means today in our review.
What Is Quadrant Token?
Quadrant Token, found online at QuadrantToken.com, aims to combine healthcare with the blockchain, creating a future “where each and every patient has control over and access to all of their personal healthcare data,” explains the official website.
Quadrant will secure patient data in a single, secure location, then provide participants with access to that data as needed.
Quadrant aims to eventually create an electronic health record (EHR) system on the blockchain:
“Imagine a world where a patient visits an emergency room, and the care team has instant access to the patient’s complete medical history, stored and managed through the blockchain,” explains the official website.
The company’s first goal, however, is to convert 100% of its stock into Ethereum blockchain-based tokens.
How Quadrant Token Biosciences Healthcare Security Coin Works
Quadrant Tokens are ERC20 tokens on the Ethereum blockchain.
Each Quadrant Token represents shares of Quadrant’s common stock. Any eligible investor can purchase Quadrant Tokens, become an owner of Quadrant, and help Quadrant address healthcare challenges using blockchain technology.
Quadrant is converting its share capital (i.e. all of its common stock) into Quadrant tokens. In other words, by buying Quadrant Tokens, you’re buying ordinary securities for the company – just digitized and placed on the blockchain.
Quadrant plans to comply with all applicable securities laws for its token sale. The company isn’t trying to hide its Quadrant Tokens as “utility tokens” or other asset classes. Instead, these are straightforward tokens that represent shares in the company. As a token holder, you have all the same rights as a shareholder, including the right to elect the board of directors and to receive dividends (if and when those dividends are declared).
Proceeds from the token sale will be used to expand Quadrant Token’s marketing and growth, including marketing for their flagship product, a cognition test known as ClearEdge.
Who’s Behind Quadrant Token?
Quadrant Token is being developed by Quadrant Biosciences, which is led by founder and CEO Richard Uhlig. Quadrant Lifesciences is a life sciences company focused on creating diagnostic products and services for brain health and epigenetics.
Quadrant Biosciences is based in Syracuse, New York at SUNY’s Upstate Medical University’s Institute for Human Performance. The company is best-known for its ClearEdge Toolkit, which consists of a suite of cognitive and balance tests to assess brain injuries. ClearEdge is Quadrant’s flagship product.
How Does ClearEdge Work?
Quadrant Biosciences’ ClearEdge Toolkit launched commercial sales in the United States in late 2017.
The goal of the toolkit is to objectively and quantitatively assess and monitor key indicators of brain health. The kit was developed over the last several years – particularly in response to brain injuries among amateur and professional athletes.
Quadrant Biosciences founder and CEO Richard Uhlig was personally motivated to develop the ClearEdge Toolkit after his youngest son suffered a concussion during a youth hockey game. Frustrated with the response of a physician to his son’s brain injury, Uhlig took matters into his own hands and created the ClearEdge Toolkit.
The kit consists of a series of cognitive and balance tests. It also collects patient symptoms and their history of injuries.
A typical ClearEdge Toolkit test will take 20 minutes. Test results are uploaded to a HIPAA-compliant, secure cloud storage system, and then detailed reports are immediately available to the patient’s physician.
Eventually, Quadrant will seek to place patient data – like the data collected by its ClearEdge test – on the blockchain to provide a secure, immutable storage location.
Quadrant Token ICO Details
By purchasing tokens during the Quadrant Token ICO, you can buy a share in Quadrant Lifesciences. As mentioned above, tokens represent equity in the company. By purchasing a token, you’re becoming a shareholder in the company.
Tokens will be sold through a Dutch auction process. During a Dutch auction, the price of the token decreases towards the end of the token sale.
Quadrant is selling approximately 20% of the total supply of Quadrant Tokens (approximately 20 million tokens out of a total supply of 100 million). Some of these tokens are being sold through a private sale, while others are being sold through the online Dutch auction (approximately 10 million to each sale).
You can send ETH to the Quadrant address when the Dutch auction starts. The auction concludes when bids are received for all available tokens, or 8 hours after bids are received for 90% of the available tokens. All purchasers receive tokens at the same final price.
The token price is originally set at 0.01 ETH per Quadrant Token during the first stage of the ICO, dropping to 0.002 ETH and less by the last 10 to 14 days of the ICO.
Quadrant has not yet announced the dates for its auction. However, you can visit QuadrantToken.com for the latest information about the sale dates.
As of March 22, 2018, the pre-sale is listed as “currently ongoing”. That pre-sale is scheduled to run until 48 hours before the beginning of the auction.
Quadrant Token Conclusion
Quadrant Biosciences is an existing life sciences company based in Syracuse, New York. That company has partnered with universities like Syracuse University, SUNY, and others to create various life sciences products – including the company’s flagship product, the ClearEdge Toolkit. That toolkit is designed to test a patient’s brain health – say, following a head injury during a sports game. Patient data from the test is uploaded to a secure, HIPAA-compliant storage solution. Then, doctors can access that data at any point.
Why are we talking about Quadrant Token on a blockchain website? Well, Quadrant Biosciences is converting 100% of its company equity into digital tokens on the Ethereum blockchain. They’re offering 20% of the company (20 million tokens) to the public in the form of a Dutch auction (10% of tokens) and a private sale (the other 10%). The private pre-sale is underway throughout March 2018, with a Dutch auction expected to take place soon afterward.
Once the private sale is complete, Quadrant also aims to create a HIPAA-compliant, blockchain-based electronic health record (EHR) solution – like a platform that can securely handle all data collected during the ClearEdge Toolkit’s test.
To learn more about Quadrant Token and how it works, visit online today at QuadrantToken.com.