Topic: About medicalchain ICO (Read 182 times)

A lot of people are talking about this project and as a potential investor i decided to run some checks on it and see if it's worth. Everyone is pumped about it but after a closer look I'm not sure it's worth its price. Therefore let's have a look at the facts :



The company was incorporated on 28/06/2017 under the name MEDICALCHAIN.IO LTD as a private company limited by ordinary shares.

Three directors are appointed: Mr. Mohammed Tayeb, Mr. Abdullah Dafir Albeyatti and Mr. Bara Mustafa.

The initial shareholdings (total of 999) are split in 3 equal parts:

1/3 (333) owned by Mr. Abdullah Dafir Albeyatti
1/3 (333) owned by Mr. Mohammed Tayeb
1/3 (333) owned by XL CAPITAL VENTURES LTD (owned by Mohammed Tayeb and Omar Tayeb)

At 24/07/2017 the number of shares is increased to 1332, with XL CAPITAL VENTURES LTD holding 666 ordinary shares.

At 13/08/2017 XL CAPITAL VENTURES LTD cease to be a shareholder, with MR Mohammed Tayeb now holding the 666 shares previously held by XL Capital.

At 14/08/2018 MEDICALCHAIN.IO LTD becomes MEDICALCHAIN.COM LTD

Below you can find a bit about every member of the team starting with the top dogs.

Director

MR MOHAMMED TAYEB description taken from medicalchain.com.

Mr. Mohammed Tayeb is a Partner at Hearn Capital Limited. Mr. Tayeb co-founded ReadyCache. In 2010, he headed up the development side of morethan.com. During his time there, Mr. Tayeb architected and developed a system to drive down online fraud, saving its over £40 million. Prior to that, he ran a boutique consultancy business in the field of mobile web and application development. Together with his brother and Co-Founder, they own over eight games and utility applications on the Apple and Google Play apps market, with over 10 million downloads. Mr. Tayeb is an internet entrepreneur, investor, and founder of several technology and e-commerce start-ups. As well being a Partner in Hearn Capital, he is also a Non-Executive Director on the board of Salic. Mr. Tayeb specializes in bringing together technological efficiencies to the business world. He has a degree in e-commerce from Brunel University and an Executive MBA from the University of Oxford.

I’ve done an extensive background check and noticed that Mr Mohammed Tayeb has had his fingers in many pies since 2010 being appointed director in and out of more than 15 companies. I am not sure if I would trust him with my money as it looks like he cant commit to something for a longer period of time.

Below you can find part of his work history:

MONSTER TECHNOLOGIES LTD :: Director since 9 January 2017 :: Active
-   no information found

HEARN CAPITAL LIMITED :: Director since 21 January 2016 :: Active
- Hearn Capital was incorporated in January 2015 by a group of key technology investors and operators. It aims to provide early stage and growth funding to exciting companies with disruptive IP within the data analytics sector - data mining, dashboarding, predictive analytics and reporting.

- Investments of £1.2 mil with a creditor balance of £1.2 mil.
- http://www.hearncapital.com
- https://www.linkedin.com/company/9235547/
- https://www.bloomberg.com/research/stocks/private/person.asp?personId=304666337&privcapId=304320092&previousCapId=304320092&previousTitle=Hearn Capital Limited

The company is owned from background by Influential (Holdings) Limited owning more than 50% of shares with a total equity of £1.7 mil
Basically Influential Holding has lent Hearn Capital 1.2 million to invest in different companies. To me it looks like Mohammed has no skin in this as Influential Holdings Limited is owned by Mr Andrew Richardson and Mr John Edward Simpson.



GOODSHAW CAPITAL MANAGEMENT LTD :: Director since 6 January 2016 :: Company still active
-   Dormant company aka not carrying any business activity

DYNISTICS LIMITED :: Director since 03/03/2015 :: Company still active
      - Acquisition of  Dynistics https://www.dynistics.com/ :: a software company that Hearncapital bought in 2015 which counts colleges, NHS Foundation Trusts and recruitment agencies as clients
Link for acquisition: https://www.insidermedia.com/insider/midlands/141513-hearn-capital-buys-solihull-software-company

Dynistics is listed as a “small company” and the directors have elected not to include a copy of the profit and loss account within the financial statements. Total equity registered at the end of 2016 : £16.557

SALIC(UK)Limited :: Director since 22/01/2015 :: Company still active
   - Saudi Agricultural and Livestock investment company: this company belongs to Ministry Of Finance (Saudi Arabia) and financed with over 300 million pounds in capital and 75% or more ownership.

The Travel booking Company LTD :: Director since 19/11/2014 : Dissolved 29/03/2016
-   previously known as red travel LTD
-   no other information found

XL Capital Investment LTD :: Director 17/03/2014 :: Dissolved : 04/07/2017
-   no other information found

Global Labs Technology Limited :: Director since 10/12/2013 –Dissolved : 18/07/2016
No record, probably westernlabs.com which has no track record nor a online presence

Ready Cache Technologies LTD :: Director since 01/10/2013 :: Dissolved : 04/07/2017
- ReadyCache is a website that accelerates your online content and delivers the best possible speeds to you.

Pepperstone Limited :: Director 13/02/2017 – 22/06/2017 :: Resigned (former 123FX.COM LTD)

Pepperstone acquired 123FX.COM LTD what is now its UK subsidiary from Mohammed Tayeb, who alongside his broker  Omar Tayeb established an FCA regulated shell with plans to launch a retail forex brokerage called 123FX.com. The business was never launched, and instead was sold to Pepperstone in late 2015.

Pepperstone has suspended trading for clients in its UK subsidiary as the company is making some changes to its management structure and processes, and bringing on some additional resources in its UK office. To comply with its FCA obligations Pepperstone has had to temporarily suspend trading in the UK until all of the changes are complete and the additional resources are in place.

http://www.checkdirector.co.uk/director/mohammed-tayeb/
https://www.leaprate.com/forex/brokers/pepperstone-swaps-phil-horner-mohammed-tayeb-board-uk-fx-relaunch/

Some other companies he had been involved with:

•   Director House of Choice Stores LTD :: 2013 – 2016 Disolved
•   Director XI Capital Ventures LTD :: 2014-2017 Disolved
•   Director UR Trading :: 2002 – 2010  Disolved
•   Director LOVEFRAGRANCE INTERNATIONAL LTD :: 2012 – Dissolved 2013
•   Director DAR FIRST LIMITED :: 2007 – Dissolved 2011
•   Director BLACKSTONE E-COMMERCE LIMITED :: 2011 – Dissolved 2013

All this information can be found at https://beta.companieshouse.gov.uk/ . You just lookup his name or company names and access the records.


Enthusiastic doctor with a wide range of skills and interests. Currently completing my general practice training in Leeds. Previous surgical trainee in the London Deanery. My ambition is to continue improving as a doctor and to develop myself in other fields of medicine and aesthetic training.
He is also the founder of dischargesummary.co.uk. Website is described as “a website designed to streamline and lessen the work load placed on junior doctors by standardising the content of discharge summaries produced when a patient is discharged from hospital.  This platform has allowed hospital departments to establish quality assurance and accurately produce reliable discharge summaries to effectively commute between hospital and community medicine. “
 
I checked the website and 3 out of 6 features are under development. The site is now redirected to https://ds.medicalchain.com/




There is no mention of Mr Bara Mustafa on the mediclchain.com which is weird as he is one of the directors and shareholder. It looks like Mr Bara occupation is CTO which surely would be of interested to the public. Mr Bara is also a Owner/Director of ENETIDEAS LTD since 2010 rendering services as IT Consultant.

https://www.enetideas.com the website is not functional , none of the products links are working.



His introductory linkedin line :

Self taught programmer, programming for 7+ years. BA(Hons) from Buckinghamshire New University. Since January I joined Medicalchain to help create a world class blockchain platform for electronic health records. Previously worked on forex trading algorithm using deep learning / pattern recognition techniques. I have had a keen interest in blockchain technology over the past 2 years. I have been learning the ins and outs of the technology and Im very excited about the future of blockchain. I see great potential for revolutionizing the way businesses are run.

He started coding for Medicalchain in 2017 previously working for 2 years for one of Mohammed
companies ReadyCache which was dissolved. I’m not sure about his experience developing “on forex trading algorithm” as ReadyCache  “were building software that is making a difference to webmasters and large companies. We accelerate our customers’ websites, save our customers money and enhance user experience”

Before ReadyCache he worked for a college as an IT technicial and e-learning advisor.

Also I’m not sure what to make out of his facebook profile, he comes across a bit weird. Also asking where you can buy bitcoin in may 2017 but on his summary :“I have had a keen interest in blockchain technology over the past 2 years. I have been learning the ins and outs of the technology and Im very excited about the future of blockchain”

https://www.facebook.com/jaypov





Looks like his CV is somehow better, again worked alongside Mohammed at Goodshaw Capital for 1 year. Freelanced a few blockchain projects so I would say he is the one who will drive the project as longs as the money are coming in.

Linkedin Profile https://www.linkedin.com/in/bertcmiller/
Facebook https://www.facebook.com/robert.miller.1422


She has a background in healthcare industry, namely working as a physiotherapist since 2010. She also lectured for Physiotherapy and Sports Exercise Scientist students at Birmingham University and currently working as a project manager for a company offering solutions to the occupational health sector.

The rest of the team occupies either associates or consultants positions for a short period of time 2-3 months.

To sum it up : the initial £5000 pre-ICO investment is way way exaggerated based on the fact that there is nothing to show for at the present moment, just ideas. Mr Mohammed has started 15+ companies and most of them are dissolved which doesn't sound very promising.  On top of that he now owns half the company whereas initially the company was split in thirds. Their CTO is not mentioned anywhere on the website but he is a shareholder in the company.

I would not recommend investing in the project right now and I would wait to see if the project would ever gain traction and materialize.

Below I listed some of the videos related to Medicalchain at different conferences / interviews :

https://www.youtube.com/watch?v=W4Bc4RiugMg
https://www.youtube.com/watch?v=F6WbFMt6Ic4
https://www.youtube.com/watch?v=NT-vRXZ2k-o
https://www.youtube.com/watch?v=devzmfzsh7E
https://www.youtube.com/watch?v=SA91OAaNZUo
https://www.youtube.com/watch?v=h_OdMREOpBI
https://www.youtube.com/watch?v=ebP5ZzQView

Hello,

i'm also doing research aboutt this ICO. Very few information so far. Project seems good. I registered for the iCO white-list, they let me 3 days to send the amount I stated in the form (which have to be over 5K$). I don't have many more information so far but I continue researching. I'll post here when I get a more complete opinion of the project.

Hello! I'm a general physician in korea. I think this ICO idea is  good.

So... I'm interested in this new ICO.


But i can't find any information in here.

Does anyone know about this ICO or search about this?