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Care Parrot is Strengthening Doctor Patient Bond via Blockchain

Care Parrot is promising to redefine the doctor-patient relationship and help to remove some of the previous barriers to patient care that exist within the current health care system. In specific, Care Parrot is focusing on three critical issues: The shortage of doctors in the current healthcare system. The obstacles surrounding health care access in…

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Care Parrot is promising to redefine the doctor-patient relationship and help to remove some of the previous barriers to patient care that exist within the current health care system. In specific, Care Parrot is focusing on three critical issues:

  • The shortage of doctors in the current healthcare system.
  • The obstacles surrounding health care access in parts of the world.
  • Payment system barriers (expense, errors, etc.)
  • The first two are pretty bold statements, while the latter should be a familiar goal for those already associated with cryptocurrencies (by default they act as an entity that disrupts outdated payment models.)

We all know that we have a primary care physician shortage in the United States. The Association of American Medical Colleges (AAMC) predicts a shortage of over 159,000 physicians within the next 15 years. So, how does Care Parrot propose to fix a shortage of doctors? Technologies can drive innovative solutions to all kinds of problems, but the shortage problem in the medical field feels a little more complex than online portals, right?

Care Parrot makes a compelling case for blockchain driven technologies disrupting critical stages of patient care barriers that reduce the overall efficiency of the healthcare chain. Furthermore, Care Parrot is addressing healthcare tourism in an optimal way – both promoting and attempting to restrict the overwhelmingly large (and often problematic) healthcare tourism industry.

Care Parrot wants to connect doctors and patients universally, without requiring costly (and sometimes dangerous) travel options. To do so, Care Parrot is looking to restructure the patient-doctor relationship portal – meaning that Care Parrot wants to reward patients and doctors for using communication-based online systems that are supported by both parties. In short, Care Parrot is looking to remove geographic boundaries that restrict health care access.

Blockchain Technology

The ecosystem that Care Parrot has set up may seem complex at first (and it certainly is to an extent) but it’s similar to some of the other structures we have seen coming out of community-based blockchain technologies. Most of their technology is driven by their app, Core Miner.

Core Miner

Core Miner acts as a node that logs users interactions within the Care Parrot online portal. This means that mining isn’t being done by expensive machines (i.e. like Bitcoin) but instead, every user interaction (communications, updating profiles, reviewing doctors, etc.) will result in an entry that will be a part of the overall chain that mines coins. Essentially, patients and doctors interacting on their platform will be generating currency simply by using the platform.

Each interaction will be a string (or a guess) and the correct guess will garner a CPX token (the Care Parrot coin.) The system then splits the winning on, what seems to be, a 55/40 split. So, the person who’s review or comment actually generated a coin gets half of the coin, while everyone else who input something to attempt to generate the coin with receive a portion of the remainder. In essence, it’s gamified like Bitcoin but driven by the community, not processing power.

The Purpose

Simplified, Care Parrot is looking to disrupt the overall architecture of the health care system, which currently has geographic boundaries. By giving patients access to a portal with a universal currency (CPX coins) they are hoping to eliminate boundary issues and create a space where medical professionals and patients can communicate effectively and meaningfully.

B2C Adopters

Here are two profiles of B2C adopters for this technology that we can think of immediately:

Doctors in a B2C Practice
Let’s define B2C practice here (since the complexities surrounding hospitals makes doctors who work there sort-of both B2C and B2B) as doctors who exist outside of a major hospital (i.e. doctors that can actually make the choice to use this platform.) For doctors, the benefits seem great. You have access to a wider patient base than ever before, your patients are communicating effectively, and you can access patients and patient information without seeing them in-person. Essentially, more profit (if it works) for you and less hassle.

It would look something like this:
You would use the Care Parrot platform. Whether this is an app or integrated into your existing system – we aren’t sure. But, once you were within the Care Parrot platform, you would have access to patients across the globe who could pay you using a universal currency. They would also be rewarded for communicating, reviewing, and accessing you.

Hospitals
For hospitals, the benefits aren’t as immediately noticeable. Switching to a universal currency may push patients to engage doctors outside of the United States (not that that’s not happening already,) but what it does do is gives hospitals an effective communication portal and the removal of costly payment gateways.

The removal of payment gateways is a big one for hospitals. This means less payment transaction fees and it reduces the overall pain of processing payments. It’s immediate, quick, and universal.

Conclusion

Care Parrot’s attempt to introduce some friction into the current healthcare space is as refreshing as it is brazen. Their overall blockchain structure looks “tight” and their actual adaptation of the technology is working so far. We think that Care Parrot will, at the very least, create a great space for customers to interact with foreign doctors while still remaining compliant with medical laws. It will also lift a lot of the danger surrounding travel and currency exchange.

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Source: https://blockchainhealthcarereview.com/care-parrot-is-strengthening-doctor-patient-bond-via-blockchain/

Blockchain

‘Bitcoin maxis’ like Solana, but is there sound logic to that

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Recent changes in cryptocurrency market dynamics have fueled the popularity of altcoins like Solana [SOL]. It recently became one of the most trending blockchain platforms around on the back of its surging price.

The cryptocurrency, in fact, had a 1-year ROI of over 4,200%, despite dropping by 34% since its peak in early September. Despite the latest hiccup in value, however, market observers believe the project has managed “winning over a significant number of Bitcoin Maxis or near-maxis.”

Ikigai Funds’ Travis Kling offered this observation on Twitter when he said,

“After talking to a bunch of folks over the last couple months, it’s pretty clear that SOL is successfully winning over a significant number of BTC Maxis or near-maxis, which have previously owned zero ETH or very little ETH.”

While the crypto-space is competitive, the tech-twist to the age-old saying – “competition of your competition is your ally” also holds true. Solana is not competing with Bitcoin. Instead, it is competing with Ethereum’s position in decentralized finance, NFTs, and smart contract offerings. Given the fact that transacting on Ethereum is still a pain for some users, Solana’s cheap and fast transactions provide a better alternative to many.

Solana’s DeFi projects recently crossed $3 billion, despite Ethereum hosting the maximum number of DeFi and NFT projects. While Bitcoin “maxis” are also opting-in for smart contracts, they prefer SOL over ETH, according to Kling.

Why? According to the exec,

“I think maxis look at ETH vs SOL and think –

Well as long as its not going to be all that decentralized, might as well have a smart contract platform that can actually handle enough throughput with cheap enough fees where it can really scale, instead getting choked up like ETH.”

However, not everyone agrees with Kling’s opinions. Many believe the decentralization narrative to be wrongly used by Kling, with another Twitter user @mikemcg0 noting that Ethereum is “more decentralized than BTC.” Anyone can run an Ethereum validator,” he said, “but only a select few oligopolies can mine BTC.”

Even so, Bitcoin mining has spread out even more after the recent China crackdown. Although the process is extensive in terms of effort, time, and money, according to another user, “anyone can” mine BTC “if they have the entrepreneurial mindset.”

Now, the latest outage faced by Solana did raise questions about the level of centralization. However, that has not really discouraged those who want to indulge in DeFi, NFTs, and smart contracts. As Solana forges new contracts with Hacken Foundation and Gate.io, others institutions like Osprey Funds and Grayscale are in a race to include Solana in their respective bouquet of products.

In fact, Osprey Funds has already registered Osprey Solana Trust with the SEC.

‘Ethereum killer’ or not, Solana is en route to gaining more interest from the booming crypto-market. Even turning so-called BTC maxis in the process.

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Source: https://ambcrypto.com/bitcoin-maxis-like-solana-but-is-there-sound-logic-to-that

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Europe Now World’s Biggest Crypto Economy: Boasts Over $1T Worth of Transactions

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Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space.

The European DeFi Boom

Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This represents 25% of global trading activity. Furthermore, it is responsible for at least 25% of all crypto value received by other regions, including 34% of the value received in North America.

This makes the EU the most concentrated in the world in terms of cryptocurrency trading volume. This is partially due to increases in all forms of trading activity over the past year, coming mostly from institutional investors.

Large institutional transaction value grew from $1.4B in July 2020 to $46.3B in June 2021, coming to take up half of all CNWE trading activity. The most pronounced increases were seen on DeFi protocols, where over 80% of these large institutional transactions were sent in June.

The impact of DeFi is further established when ranking coins in terms of transaction activity in the region. Despite being the largest cryptocurrency by market cap, Bitcoin heavily trails Ethereum in transaction volume among large institutional investors. Additionally, DeFi protocols took up a majority share of funds received by cryptocurrency services in CNWE in June 2021.


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The Decline in Eastern Asia

CNWE has seen significant absolute increases in its crypto trading volume. However, its new place as the world’s largest trading hub is partly due to a sharp decline in market share held by Eastern Asia– the previous world leader.

In early 2019 the region held over 30% of global transaction volume. This figure has since fallen sharply to about 15% – less than CNWE, North America, and even Central and Southern Asia.

This may be related to China’s continued push to prevent and discourage crypto trading within its borders. China re-announced their ban on crypto trading in the country days ago, and have been moving to prevent all access to exchanges within the country.

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Source: https://cryptopotato.com/europe-now-worlds-biggest-crypto-economy-boasts-over-1t-worth-of-transactions/

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Here’s why a multi-CBDC bridge is being tested on Ethereum

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The race to launch the first CBDC is one the world is following intently. While most have their eyes fixed on China’s digital yuan pilot, a group of countries has come together to take CBDCs a step further.

Phase 3 of Project Inthanon-LionRock saw BIS Innovation Hub Hong Kong Centre, the Digital Currency Institute of the People’s Bank of China, and the Central Bank of the United Arab Emirates experiment with a multi-CBDC bridge or an mBridge.

What does this mean?

The mBridge initiative would ideally allow central banks in different countries to issue and redeem their own CBDCs across borders on a common platform – without having to depend on correspondent banks.

Meanwhile, commercial banks would be able to “submit peer-to-peer CBDC push payments.”

The BIS September 2021 report stated,

“If successful, an efficient, low cost, compliant and scalable multi-currency, multi-jurisdiction arrangement can provide a network of direct central bank collaboration, greatly increasing the potential for international trade flows and cross-border business at large.”

The report further clarified,

“The prototype demonstrates a substantial improvement in cross-border transfer speed from multiple days to seconds, as well as the potential to reduce several of the core cost components of correspondent banking.”

Here, it is also interesting to note that the project’s Phase 2 prototype was built on Ethereum. This was because the core layer of the prototype contained the blockchain ledger and smart contracts.

Notes on features

As a multiple CBDC project, regulation and compliance were functional requirements. Central banks would be able to monitor transactions in real-time, set balance limits, control the balance held by their commercial banks, and use data for surveillance.

Scalability was also part of the design to later onboard more participants and jurisdictions.

However, one complication was the wide difference in remittance charges across countries. While the global average was calculated to be 6.38% of the remitted sum, the report observed that even a percentage as low as 1% would be costly for payments in the millions of dollars.

An update from China

Alongside the mBridge project, China has also been steamrolling ahead with its CBDC program.

Changchun Mu, Director-General of the DCI of the People’s Bank of China. confirmed that e-CNY pilots have been taking place in 10 areas.

Mu added,

“Payment methods such as QR code and tap-and- go have been well-supported and innovative services such as dual-offline payment and wearable device payment have been tested for safety and efficiency.”

Meanwhile, Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority, suggested that an e-HKD could also be in the works.

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Source: https://ambcrypto.com/heres-why-a-multi-cbdc-bridge-is-being-tested-on-ethereum

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