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Healthcare: A trillion dollar opportunity for blockchain?

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Most healthcare activity is multi-party, complex, and expensive, leading to increased costs for all parties involved, extra administrative tasks, more fraud, and even surges in illnesses across populations due to avoidance of healthcare systems. A lack of trust in healthcare systems is another major issue pervading many countries across the globe.

Healthcare systems suffering from these symptoms are built with a silo mentality with only a small window through which patients and doctors are allowed to peer in. A systematically flawed system such as this requires the embracement of innovative technology to achieve cohesive coordination between all stakeholders involved in the provision of care, benefits administration, and payments services, leading to heightened levels of trust and improvement in the standard of care.

Complex data management and payment systems 

Information asymmetry is one of the root causes of many of the issues facing healthcare systems today. Healthcare providers’ disputes and frustrations are often caused by various prevalent issues with processes, most notably, data management, consent management, and compliance with administrative and clinical protocols.

The administrative burdens that are being placed on healthcare providers cannot continue to stand in the way of providing effective and efficient healthcare in the twenty-first century. Modern healthcare systems are missing something fundamental, which is the ability to establish and maintain a trusted relationship with key stakeholders. What is needed is a fundamental shift in the way how healthcare is approached.

Data management, consent management, and administrative management are essential to all healthcare transactions, and blockchain addresses each of these pertinent issues while also facilitating their automation.

Blockchain allows for the building of interoperability around the patient, which empowers patients to be self-sovereign, ensuring that all their medical data is decentralized and solely in the control of the patient. This is the paradigm shift that is required, especially if we are to improve the healthcare system. 

By utilizing digital currencies in healthcare, practitioners and hospital administrators can easily track and audit patient transactions on the ledger, creating a transparent and secure payment system. Even with blockchain technology, the healthcare industry will not achieve an equilibrium of efficiency by investing in the old paradigm. Instead, all key stakeholders, from healthcare providers and patients to insurers, must establish trusted relationships if a system is to achieve true efficiency. Blockchain can be utilized to establish trust between these parties, and ensure the future prosperity of the industry as a whole, with the patient right at the center.

Building trust between stakeholders 

Patient-centric care models are essential to the success of any healthcare system. Using a full stack blockchain platform, Solve.Care is fundamentally changing the way in which healthcare is administered, coordinated, and paid for. On this platform, different healthcare networks can be built to create a healthcare ecosystem to serve the various needs of patients.

Using Care.Protocol, a simple but powerful tool that enables anyone to easily and rapidly define and publish decentralized healthcare applications (dApps) that are interoperable, secure, and personalized on the platform, at 1/10th the cost compared to traditional systems.

Solve.Care ensures patients, doctors, and those who are responsible for managing the payment of healthcare can collaborate effectively along three core business pillars:

  1. Effective Coordination of Benefits – Enabling seamless interactions between stakeholders (patients, healthcare providers and insurers) regarding the eligibility of care, payment plans, and timely reimbursements.
  2. Effective Care Coordination – Minimizing administrative frictions surrounding care management, enabling interoperability and improving clinical outcomes.
  3. Effective Payment Coordination – Providing pricing transparency and immediate payments, and eliminating waste and overbilling, through the use of a programable digital token.

The future of healthcare is decentralized, autonomous, and tokenized

The incorporation of digital currencies and blockchain technology dramatically changes the way in which we engage with healthcare services, from consultation to payment of services and prescriptions. By incorporating blockchain technology, we will benefit from the enhanced transparency and security of transactions made within the healthcare system. It will improve the efficiency of the system for all stakeholders. But most importantly, the patient must at the center where we build interoperability. 

Blockchain is a distributed ledger technology that holds the power to establish relationships that are transparent in terms of the rules of the relationship, but private in terms of the content of the relationship. Blockchain technology minimizes the amount of trust required from any single actor in the system by distributing trust among different actors within the system, resulting in no single actor holding authority over transactions. Solve.Care has built a platform that utilizes blockchain’s functional and contextual capabilities, that anyone involved in the provision of healthcare can use.

SOLVE is Solve.Care’s utility token which tokenizes transaction costs and payments on the platform. By decentralizing and tokenizing all healthcare transactions, from identity, payments, consents, to interoperability, healthcare systems can reach full efficiency across care coordination, benefit coordination, and payment coordination.

Utilizing this technology can reduce healthcare costs in a number of ways, but it also makes the administrative, care delivery, and payment processes far more transparent. We can also eliminate many time-consuming processes and provide each party with the capacity to carry out the main functions of their role, providing a standard of care that is worthy of the price tag.

If the healthcare industry does not embrace the technological innovation that it so desperately requires, the provision of healthcare globally will become even more unsustainable. Now is the time to ensure that our industry steps up to the mark and secures its own future, before it’s too late. 

Guest post by Pradeep Goel from Solve.Care

Pradeep Goel, CEO of Solve.Care, has extensive expertise in blockchain, finance, technology and healthcare. He has been in the CEO, COO, CIO and CTO roles at various insurance, technology and healthcare companies over the last 30+ years. Pradeep was deeply involved in designing and building solutions for public programs such as Medicaid eligibility and enrollment, children health insurance program administration, Medicare claims, SNAP/TANF administration and payments, child Welfare program administration, and many others. Pradeep worked with the healthcare initiatives of the both the Bush and Obama administration to design and build several public program solutions under the Health Savings Act and Affordable Care Act.   Prior to founding Solve.Care, Pradeep built 4 healthcare IT companies and has been at the top of Deloitte’s Technology Fast 500, INC500/5000 fastest growing companies lists multiple times. Pradeep was included in the 100 most promising entrepreneurs globally, compiled by Goldman Sachs.

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Source: https://cryptoslate.com/healthcare-a-trillion-dollar-opportunity-for-blockchain/

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DeFi in style? Here’s how women can break into the game

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There are many things to think about when entering this field: what inspires someone to do so; how blockchain technology, crypto and DeFi match with your overall personal or professional philosophy; and how one can change the life of others through promoting DeFi adoption, breaking the stigma surrounding this industry. Have you ever considered entering the decentralized world of blockchain technology? Is there anything holding you back?

In the DeFi industry, the above questions could be very intimidating, but the many women who have cracked into the space are changing the way decentralization is perceived. Getting women involved in an industry that has a preconceived idea of who should be the leaders is difficult, but women every day are breaking the already-established boundaries to perpetuate the industry in all aspects, including education, technological advancements and accessibility.

Their drive to change how education and implementation surrounding accessible finance reaches the masses will hopefully inspire some who have just dipped their toes in this seemingly cold water, showing that the water might actually be warmer than it looks.

Figure out your career goals

For many, the crypto and DeFi industries line up with their career and personal goals and can be used to their advantage professionally. Even if the world of blockchain and crypto falls upon you by accident, this could be an opportunity to explore it and discover how your experiences could benefit from blockchain and DeFi, or vice versa.

For example, while working at a central bank, UNICEF blockchain lead Christina Lomazzo used her institutional perspective to develop a connection. “I’ve been intrigued by the concept because of its power to redistribute traditional power dynamics and create opportunities for groups traditionally excluded from systems,” she told Cointelegraph, adding:

“I stayed in the industry because blockchain and crypto presented an opportunity to work with a foundational technology that offered many ways that systems could be rethought and redesigned.”

Working from the inside and trying to change the traditional power dynamic is a great example of how to use your previously acquired knowledge in DeFi. Changing the process of one institution is sure to make significant changes, profoundly developing the need to push boundaries of the industry and your career.

If one of your interests aligns with education, then perhaps a great thing to think about is how to organize meetups with the goal of educating. Elena Silenikova, co-founder of CryptoChicks, did just that. Studying Ethereum has always been a passion of hers, and after trying and successfully troubleshooting it on Windows, she decided to organize a meetup with other women to discuss Ethereum and share what they know. Silenikova explained:

“We eventually created a meetup group for women to teach them about different blockchains, various wallets and, most importantly, about the security precautions they need to pay attention to while working with crypto. Our meetup group grew; we started doing bigger events and ended up organizing CryptoChicks worldwide blockchain hackathon for women.”

From all over the world, women were traveling to Toronto for hackathons; major companies such as Deloitte and Microsoft were inviting them for seminars; and even women-led educational groups were asking for a CryptoChicks chapter to be established in various countries around the world. Silenikova believes that “many women needed help turning their projects into startups after these hackathons.”

A passion for education is so important to the industry, especially in a space that feels like a closed-off subculture, and that’s exactly what SheFi founder Maggie Love thought. After hearing about blockchain in a meeting, Love decided to read up on the topic, and that’s how she decided that this industry was for her:

“I wanted to figure out a way to kind of create a model like [the NCAA playoff bracket] or to get women excited to play with money in some sort of way and put it in DeFi protocols. There’s a problem that no women are putting their money in DeFi protocols and experimenting with them and earning money on their money.”

Knowing your strengths and interests is key to understanding how you can utilize your past experiences within the DeFi and crypto space, especially if there is a begging call that is pushing you toward the industry. Love added, “I was curious. I read about [blockchain], then I had to be a part of it. It was one of the best decisions I’ve made in many ways to date.”

Why was crypto created?

Well-known within the community, the creator(s) of Bitcoin and a co-founder of Ethereum, two established cryptocurrencies defining crypto and thus DeFi in ways that complement each other, created a new industry that many did not realize its full potential and usefulness — until it happened to be exactly what they were looking for.

After noticing how this industry has so many different ways for people to “poke at the edges” of creativity, Love believes that there is always a way to expand what is there, to push the limits of this boundless industry: “​​With Satoshi and with Buterin, they reimagined the way that the world could be organized for value creation — whether it is money, whether it is a metaverse or in art and creators — in the way that they earn money and get discovered. And so, it’s hard not to live in this world of new imagination once you’re introduced to it.”

With SheFi, Love is able to continue to express the creativity and imagination from the founders of the space without adhering to the perceived status quo of the industry. She added, “Decentralization became possible only because of Satoshi and Vitalik’s work, and now would be the time when people can benefit from it on many levels.”

For Silenikova, it was important for her to start something that is “building borderless businesses on a scale, freedom of implementing your hopes and dreams without any fear that someone can deny, prohibit or block them.” One would be able to access the industry from anywhere in the world, as well as access remote financing and investing, regardless of where you are located because there are “possibilities and yield that you could not even imagine before.”

With Lomazzo, her passion for building ways in which underbanked communities can be fairly represented has crossed over well into the decentralized industry. “Decentralized technologies, particularly blockchain and crypto, introduce opportunities to address cross-cutting societal challenges,” she said. In her work with UNICEF, she used these philosophies to her advantage, funding eight blockchain companies in seven countries to start paving the way toward financial inclusion.

These women used the philosophies of the respective white papers of Bitcoin and Ethereum to their advantage, developing a way to change the world and build a better and borderless system. And this was because of their interpretation of how their professional and personal philosophies can be integrated with the foundation of the space.

How to break down the centralized barriers

Decentralization in the crypto industry has many goals, one of which is to place privacy and control back in the hands of the people. Whether that is by using cryptocurrency or helping your community utilize blockchain technology for data storage, decentralized technology can bring forth freedoms that are otherwise unavailable for many.

Breaking the stigma that crypto is only for a certain group of people is important in order for the industry’s full potential to come to fruition.

Related: Adopting a decentralized way of life, from small steps to giant leaps

However, starting the process can be challenging, and Lomazzo advises to participate in seminars, hackathons and groups dedicated to changing and educating, as well as donating to hedge funds that will help broaden technology because according to her, “More product choices and more institutional adoption will widen the impact of cryptocurrency and create opportunity and choice where they may not otherwise exist.”

The crypto and decentralized world is creative and motivating, but it is important to remember why this industry exists in the first place. Breaking the stigma starts with implementing ways to think about how people are affected by being outside of the centralized financial system and what could be thought to actually open DeFi systems to those communities.

Love stated, “Think about what are the ways we can onboard more people and get more perspectives about what is challenging in the traditional financial system for people who do not have access and privilege,” as she added further:

“Crypto is still pretty homogenous in many ways, and we still need to do the work to think about who our neighbors are that are hurting because they are not in the traditional financial system where it’s not easy for them.”

The decentralized industry still has ways to go, and making sure that you stay educated and curious, without forgetting what has started it all, is a surefire way to start moving toward real-life implementation.

As Silenikova said, “We live in the exciting time of endless possibilities that the blockchain technology has opened up for us, so let’s embrace all of its benefits!” DeFi and crypto have so many possibilities for innovation and implementation, so despite the uncertainties, doubts or the glass ceiling that this industry appears to have, there is always a way that could push the industry forward and beyond.

In an industry that may seem intimidating and inaccessible to many, the inspiration, philosophies and advice that industry pioneers can give to newcomers shed light on the importance of decentralized finance (DeFi) and the utilization of blockchain to store data and protect one’s privacy. 


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Source: https://cointelegraph.com/news/defi-in-style-here-s-how-women-can-break-into-the-game

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Bitcoin sellers in ‘disbelief’ or BTC price wouldn’t still be at $41K — Analyst

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Bitcoin (BTC) closed July above $41,000 in a “bullish engulfing” candle that dramatically upends its previous downtrend.

In a tweet on Aug. 1, investor and entrepreneur Alistair Milne joined many celebrating a classic return to form for BTC price action.

Bitcoin refuses to flip bearish

After seeing three straight monthly red candles in a row, BTC/USD held onto late gains to post a monthly close that few had anticipated.

Despite the dip to $29,000, bears failed to stay in the driving seat as July drew to a close as resistance levels fell and sentiment improved. 

“Bullish engulfing on the monthly chart for Bitcoin,” Milne summarized. 

A bullish engulfing pattern is a chart pattern that forms when a small red candle is followed by a large green candle, i.e. July, the body of which completely covers or engulfs the body of the previous candle (June).

BTC/USD 1-month candle chart (Bitstamp). Source: TradingView

The move up — and its staying power — have been so surprising that even seasoned hodlers appear confused about what to do next.

On-chain data shows that some long-term holders (LTHs) are in fact selling as BTC/USD rises, something that analyst Lex Moskovski believes corresponds to the “disbelief” stage of a classic market cycle.

Moskovski highlighted the long-term holder spent output profit ratio indicator (LTH-SOPR), which this weekend hit its lowest levels in 2021.

SOPR looks at the value of coins moved in a particular time period to get an impression of profitability of coins being sold. A downtrend towards the neutral 1 value, host Glassnode explains, suggests that profitability among the coins in question is low.

“Some long-term bitcoin holders are selling into this bounce with minimal profit as indicated by LTH-SOPR hitting this year’s low for two days straight,” Moskovski commented.

“This is one of the reasons we’re still at 41k. Disbelief.”

Bitcoin LTH-SOPR annotated chart. Source: Lex Moskovski/ Twitter

“Like clockwork”

Bulls meanwhile continue to look for triggers that could send BTC/USD past $42,000 resistance for good, this having seen two tests in the past 24 hours.

Related: Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time high

Beyond there, as Cointelegraph noted, little lies in the way until $45,000 and $47,000.

Equally enthusiastic for upside on Saturday was PlanB, the creator of the stock-to-flow price model family, who described Bitcoin’s July close as being a recovery “like clockwork.”

Stock-to-flow, while currently demanding a Bitcoin price of nearly $100,000, remains valid, with PlanB giving a minimum August close requirement of $47,000.


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Source: https://cointelegraph.com/news/bitcoin-sellers-in-disbelief-or-btc-price-wouldn-t-still-be-at-41k-analyst

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Don’t Listen to the Experts Saying Bitcoin Price Can Drop to $15K or Reach $100K. Do This Instead.

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To truly take power with Bitcoin, you must learn to make your own decisions.

Illustration by Sylvain Saurel

The price of Bitcoin is currently facing what is called a dead cat bounce and will soon fall to $20K and then $15K. This is not my opinion, but it is what Bitcoin Bears have been saying ever since the price of Bitcoin rebounded to around $40K.

Others will tell you that the price of Bitcoin can only go up from here and that it will reach $100,000 in the next few months.

I have to admit that I am in this second category of people. I even wrote an article recently listing 10 major reasons why the price of Bitcoin will reach $100K in the coming months.

As I explained in my article, I have no guarantees to give you. In fact, I can’t give you any, and neither can anyone else. Anyone who tells you otherwise is a liar. The truth is that this is just my personal opinion as I explain to you every time.

It’s the same for every person you read or watch videos for.

No one can tell you what the price of Bitcoin will do in the short term. We all try to give you our view based on our personal view which is by definition biased. It is more or less biased depending on the person. Those who tell you that they only share an opinion are obviously less biased than others.

However, everyone is likely to be biased by their own interests.

People who want to accumulate Bitcoin at a lower price will tell you that we are experiencing a dead cat bounce. Perhaps they are hoping to create some sort of self-fulfilling prophecy that will serve their interests.

In any case, you should not blindly listen to people who give you predictions for the price of Bitcoin. Instead, you should use everything you read or hear to form your own opinion on the matter.

When I share with you an article about why the price of Bitcoin will rise to $100K in the coming months, you should simply read my arguments and add them to your overall thinking.

Take each other’s arguments, and then make up your own mind. Do your own technical analysis. It’s not that hard to master these types of tools if you want to. In short, make the effort on your side so that you don’t depend on anyone else exclusively.

Great experts or gurus who are always right do not exist in life.

You are the only master of your destiny, because at the end of the day, never forget that it is your money that is at stake. If you blindly follow an expert and you get rekt, you will only have yourself to blame. You are the one who chose to blindly follow this expert.

Blindly following without checking yourself goes against what Bitcoin teaches you:

“Don’t Trust, Verify”.

Taking care of your money the best way possible is to verify everything before you decide. Then you can make the best decisions for your future regarding money.

You will probably make mistakes, but we all make them at one time or another. The key is to use those mistakes to learn from them so that you can do better in the future. As you move forward, you’ll quickly be able to forge your own destiny in the Bitcoin world.

Better yet, you’ll be able to step back when you read articles announcing a Bitcoin price of $10K or $250K. Your knowledge and logical reasoning will allow you to position yourself to act in your own best interests.

I thought this reminder was necessary as I see more and more people making price predictions and some telling me in comments that I have no proof that Bitcoin will reach $100K.

As you understand, I have no proof of that, and I am only sharing my opinion on the subject with you. So this is a feeling that should only be used as food for your own thoughts on Bitcoin.

It is up to you to decide because you are the only one in charge of Bitcoin, whose main goal remains the same: to give you the power over your money and your life.

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Source: https://www.inbitcoinwetrust.net/dont-listen-to-the-experts-saying-bitcoin-price-can-drop-to-15k-or-reach-100k-do-this-instead-272539d5bd37?source=rss——-8—————–cryptocurrency

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