ICON (ICX) 2018 roadmap shows focus on adoption

Andrew Munro 31 January 2018 NEWS

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With its technical foundations largely laid in 2017, ICX is now looking at real-world applications.

ICON (ICX) has released its 2018 roadmap, showing a focus on adoption across each of its five key focus industries. Its long-term objective is to create a useful blockchain ecosystem, with built-in governance systems, to encompass a wide range of closely-tailored blockchain projects across the following industries:

  • Securities
  • Insurance
  • Banking
  • Education
  • Healthcare

Securities

Q4 2017 saw ICON launch the CHAIN ID system, a blockchain-based shared security system for a consortium of Korean securities firms. Development is ongoing, but in the first half of 2018, it plans to implement blockchain utilisation on the clearing and settlement sector, while the trading sector will be waiting until 2019.

Insurance

ICON already launched a limited version of its blockchain insurance service in Q4 2017, focused only on connections between partners and employees.

Its plans for the coming year include an early 2018 official public launch of the end-to-end loopchain-based insurance system. The idea is essentially to automate as much of the health insurance system as possible, from customer signup to claims processing.

Banking

ICON network's bank is currently developing a prepaid digital payment system, which includes account recharging, transfers and withdrawals as well as a digital-currency management system.

It's currently undergoing integration and stabilisation tests, and if all goes well, ICON aims for expanded banking partnerships in 2018.

Education

ICON has been working on its first rollout throughout 2017, in the form of a custom-built mobile app/vending machine solution called the "U-coin" system.

It aims to create a network by which students at universities will be able to charge cryptocurrency and use it for day-to-day purchases at smart vending machines as well as make transfers. The proof of concept and first implementations will be rolled out in Q1 2018.

Healthcare

ICON's Precision Healthcare Information System (P-HIS) aims to set a new bar in medical data management. 2017 was given over to system design, which will be ongoing in 2018. ICON is aiming for a stable launch of a mature data-sharing system around midyear 2018.

It's not the only medical-records blockchain system being rolled out in Korea. The country's third-largest dental hospital is planning to launch a new dental exam centre in March, operated through the MediBloc system.



ICON's roadmap highlights just how many areas it's operating across, the strength of its existing partnerships and how close it might be to real-world rollouts in several key areas.

What is ICON and how does it work?


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