Blockchain is the Future of Healthcare

Everything we know about health care can benefit from blockchain technology. Especially when it comes to medical records, sharing patient information, and making data more interoperable. Right now, there are a lot of intermediaries involved in sharing patient data as very few systems are compatible with one another. The blockchain will effectively create a new model for the exchange of health information. Electronic records are the way forward. However, they need to be made more efficient, secure, and no longer reliant on intermediaries.

Overcoming all of those challenges will not be easy, though. A blockchain-powered healthcare ecosystem would raise the bar as far as interoperability is concerned. Eliminating friction and reducing costs associated with using current systems will create a healthier ecosystem for all parties involved. Now is the time to capitalize on this technology and its momentum.

Additionally, using blockchain will help in generating valuable insights. Being able to see the proverbial bigger picture will benefit both patients and healthcare personnel alike. Moreover, it will help improve the value of care as well. All of this will require a universal blockchain system connecting health care facilities from all over the world. Using private blockchains which only require approved partners to examine and share data is not a viable strategy for the healthcare sector by any means.

Dr. Rhea Mehta, the founder of Bowhead Health, a blockchain-based personalized health platform, spoke to NewsBTC about such possibilities, stating:

Dr. Rhea Mehta, Ph.D., CEO of Bowhead Health

“While digital technology has dramatically transformed the management of our financial information and transactions, most of us have not seen such gains when it comes to our health data. As the world watches the adoption of blockchain as a new model of decentralization and security for financial services, we believe the time has arrived when the health sector can finally offer the freedom to own our health data using a smart wallet to manage private and public keys with different levels of permission. This will enable patients to share data on an as needed basis with trusted providers.”

– Dr. Rhea Mehta

There are indeed economic, technical, and behavioral challenges that are faced by the current healthcare models. No one has built a large-scale blockchain ecosystem for the healthcare sector to date. That situation will come to change sooner rather than later, with companies (like Bowhead Health) working toward bringing blockchain technology to the medical sector as we speak. These unique opportunities need to be taken advantage of with properly developed proofs of concept.



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Blockchain technology can serve many different purposes, most of which have yet to be discovered. The medical sector is one area prone to disruption and innovation. Bowhead Health is trying to bring the medical sector and blockchain technology closer together as we speak. They are providing a real-time biometric test unit which is fully powered by the blockchain. An interesting concept, to say the least.

Blockchain in the Medical Sector Makes Sense

Our society can greatly benefit from solutions which allow us to optimize our health. More specifically, there is a growing need for personalized solutions and treatments. Despite the health supplements market being valued at US$200bn annually, there are still far too many generic “solutions”. Bowhead Health aims to change this one step at a time. Their new product will allow anyone in the world to test their body and work out a personalized solution to optimize their health.

One particular factor that comes to mind is preserving patient anonymity. The company will take care of this, as they give users the option to disclose their information for research or not. All of the patient records are stored in smart contracts, which is a nice touch. Users will always be in full control of their data, and how others can interact with this information. Blockchain technology can be used for both public and private information, after all.

What is the Bowhead Product?

The Bowhead device in question is connected to the internet and monitors the health of individuals at home. It can also be used as a way to acquire new knowledge for both patients and healthcare professionals. Some users will need expert advice and be keeping tabs on their habits is of the utmost importance in this regard. What makes the Bowhead even more attractive is how it can dispense personalized medication. The initial phase will let it provide supplements and vitamins, but there is always room for future improvements.

While the Bowhead itself will take care of the dispensing aspect, there will also be a companion app for iOS and Android. This app will allow patients to see their data, interact with healthcare professionals, and even receive reminders to stay on top of their schedule. All things considered, it sounds like a very potent ecosystem which will radically change the world of healthcare as we know it today. Plus, the app is very intuitive to use, which makes it accessible to [less] tech-savvy users alike.

Whitepaper and Token Sale

There is a lot more going on behind the scenes of Bowhead health. The team has put together a comprehensive whitepaper which touches upon every aspect of this project one can think of. It is evident such a device can make a major impact on the healthcare industry as a whole. In fact, the paper also mentions the prototypes which have been developed over the past 18 months, including the Bowhead, its mobile app, and test cartridges.

Rolling out such a project on a global scale will not be cheap. This is why the Bowhead Health team will organize an ICO, during which 40 million of the 100 million AHT tokens will be sold. Said token represents the payment distribution from pharmaceutical and research companies. The ICO will commence on July 17th and run until August 31st. There is no minimum investment goal nor a maximum cap. Tokens will be priced at US$0.65 per AHT, although a bonus schedule is in place for the first 15 million tokens being sold.

There seems to be an interesting correlation between issuing a new current to people who want to get fit. A new application on for iOS will pay people in Sweatcoin, depending on a number of steps they have taken every day.

Is Sweatcoin the Bitcoin for Fitness?

It is not the first time an initiative is launched by issuing a new digital currency to reward users who want to get fit. Sweatcoin is the latest one in this growing line, though, and the app makers will reward users for taking steps every day. Although walking around may not sound like much to people looking to get fit, it is an important first step towards a healthier lifestyle.

Measuring the movement and location by users to prevent cheating is of the utmost importance for Sweatcoin. At the same time, the solution makes use of the technology powering the Bitcoin protocol to handle payments  According to the Reuters article, retailers, health insurers, and corporate wellness managers have taken notice of these health initiatives.

But there is more to Sweatcoin, as London-based Russian entrepreneur Oleg Fomenko stated how the value if this new digital currency will be tied to the British pound at some point in the future. For the time being, Sweatcoin will only be available to UK Apple users although an Android app will follow in the coming months.

At the time of writing, the plan is to offer one coin for every 1,000 steps taken by the user. This should give active users enough coins to exchange their balances for fitness produces or services tied to the built-in marketplace. Among these rewards are Vivobarefoot running shoes, fitness classes, and infra-red clothing.

Keeping in mind this is not the first initiative to bring digital currency together with fitness; Sweatcoin will have to prove they can attract users before major health insurers come on board. If the team succeeds in doing so, insurers and employers might pay for sweatcoins in circulation.Putting a value on movement will be a difficult challenge, though.

Sweatcoin is under a lot of pressure from investors to ensure their solution works out, though. The company has attracted US$890,000 in investment from various VCs and music industry heavyweights. Moreover, London Sport has also provided some promotional support to this initiative.

Source; Yahoo Finance

Header image courtesy of Sweatcoin’s Logo & NewsBTC graphics