Solve.Care-Healthcare On The Blockchain
solve.care website click here
solve.care telegram click here
What is Solve.Care?
solve.care website click here
solve.care telegram click here
What is Solve.Care?
I’ve been doing a bit of ICO hunting and I’ve found one that has peaked my interest. The medical industry is ripe for a revolution through blockchain technologies and the ICO today is aiming to decentralize and redefine administration of healthcare globally. That ICO is…..drumrolll……Solve.Care
The platform will allow immediate interaction between consumers, insures, and service providers which will improve health care access, reduce cost, and streamline the payments. They will take a distributed ledger approach utilized in real time transactions.
Problems With Healthcare Administraction
Administrative and health information tech costs are high, especially in the US. The health IT infrastructure is broken-where duplication efforts happen and systems can communicate. The demand and complexity of cases by consumers and providers is increasing reaching almost 16 percent of the US’s GDP in 2014. yet the same technologies and processes exist. These administration costs are estimated to be anywhere from 7 percent to over 30 percent in some cases of total health care spending. The addressable market size in the US alone is more than 100 billion dollars. It’s a massive market that is run by inefficiency and guess what the solve.care team says they can perform the current processing and management systems task, at just 3 percent of the total spend.
In Healthcare, Administration and payment is handled by 3rd parties, this results in the patient seeing the doctor and the 3rd party, either an insurer, employer, or government paying the bill. This creates a triangular relationship that is difficult to manage. The 3rd party model of administering benefits is very complex and expensive because each provider, doctor, hospital, insurer…..they all have their own systems and process that don’t connect. This leads to centralized systems and information that is kept in silos. Also they insurers, hospitals, labs, and pharmacies all make decision which don’t include the most important person in the process. The practice treats you as a beneficiary and not a decision maker, which already creates a flawed and unfair system for the consumer.
What Does Solve.Care do?
Solve.Care is a decentralized and distributed platform that has 4 main components allowing for the effective administration of healthcare and benefits programs
1.Care.Wallet 2. Care.Cards 3. Care.Coin 4. Care.Vault 5. Care Protocol
The Care Wallet is designed as a blockchain dapp to help patient and providers communicate and manage delivery of care. The wallet houses care.cards and care.coins. These automatically sync with other wallets which result in real time coordination for everyone involved.
Now care.cards are not physical cards but purpose built applications that can be linked, stacked, and synchronized. They have access to all the platform constructs including the coins, protocol, vault. They will be a powerful tool in intelligent automation, requiring no centralized logic processor, having public and private data split into two pieces, and be paired between only two entities on the protocol.
Care.Coins are the payment currency of the protocol. They bring a proof of service model to the heathcare industry. This is a record of events in the blockchain ledger to verify service delivery and can determine events such as diagnosis, prescriptions, lab work, referrall, and so on. This will be an entirely new way of looking at payments. They will enable escrow-based payments that can automatically release the monetary value upon proof of service removing the friction, cost, and risk from the 3rd party payment model.
The next piece of the puzzle is the care.vault. This is the data management module, consisiting of a top layer records, middle layer cabinet, and bottom layer vault. It will link and aggregate payload, structures of data, and blockchain ledger. This will organize data between protocol pairs, which I’ll talk about in a bit.
The final piece of the puzzle is the care protocol. This is the fabric of the platform that handles communication and synchronization between two entities defined as a protocol pair. Protocol pairs create an organization model of pairs. Each entity will have a 32 digit protocol ID and using the ID, the entity register on the network and form protocol pairs. They digitally sign a smart contract that binds them to the rules of the relationships. The wallet, coins, and endpoints are governed by pair rules.
Care Administration Networks
This all comes together to create care administration networks. Basically, this is an ecosystem that connects all parties involved while giving the parties much more choices. The ecosystem is in real time and designed to automate the administrative processes while being much more coordinated than current systems. Reducing costs, duplication efforts, and blockchain secure. Who doesn’t want that?
The whitepaper gets much more detailed into the system architecture, with platform components such as blockchain distributed events ledgers, the event handler, data hubs, integration layers. Like I always tell everyone, never invest before reading the whitepaper. Other features of the platform include the care community which will initially drive innovation of the platform through publishing innovative care cards, protocol pairs, data models, payment models…basically anything which will enhance the usability of the platform.The will also be the care.marketplace which is an app store for care.cards, extensions, pairs, and other services.
Solve.Care Token Sale
The Solve.Care team says through this platform they can perform the task of current processing and management systems at 3 percent of the total spend. Massive competitive advantage, a huge selling point. So lets now get into the token characteristics and ICO details.
The Tokens are abbreiveted CAN and the total token issued will be 1 billion. 350 million will be offered to the public, 20 percent for the community to drive innovation, 18 prcent reserved for the team, 15 percent reserved for growth and acquisition, 9 percent for foundation budget, and 3 percent for token sale expenses. Any unsold tokens are burned. They have a vesting model for the reserved tokens Here is the vesting for each type of member.
Care.Token vs Care.Coins
Now Care Network tokens are different than care.coins in the platform. Care tokens are needed for wallet subscriptions, card subscription, and the using of care.coins for payment.Care.coins are pegged to a currency and don’t vary in value, they are not tradeable on exchanges, and not in limited supply. These are used for payment of healthcare services between the members of a care administration network
Here is the presale schedule. It started January 15th and ends on march 8th. They have a discounted token price of 7 cents. Accepted currencies are bitcoin and Ethereum. If they need to go to a token public token sale the price will be ten cents per care token.
Future of Solve.Care and The Team
They have already raised around 22 million of the 35 million hardcap which shows there is some big interest and there is good reason why.Now as most of you know, I love working products in crypto, and solve.care released the care wallet 1.0 in the last quarter of 2017. Looking down the roadmap we see this quarter they signed their first commercial customer with more than 250,000 clients which hasn’t been disclosed due to an NDA. They also have a partnership with the American Research and Policy Institute and the consumer driven health care institute for data analysis and the advancement of blockchain technology in healthcare. This team doesn’t seem like they are fucking around…speaking of team. Lets check them out.
First Pradeep Go-el is the CEO and has spent 26 years in healthcare IT. He has built 4 healthcare IT companies already, and is also one of the 100 most promising entrepreneurs world wide by Goldman Sachs.
Vadeem Vor-a-beeof Is the CTO and his entire career has been spent in software development. He spent a decade in the health and human services sector building and deploying entreprise systems for commercial and government organiztions.
Dr. Daniel Randall PHD is the senior policy advisor and has extensive experience as a former top insurance regulator, legislative staff member, health care lobbyist, and exectutive with serveral provider trade groups. He also has over 2 dozen peer-reviewed publication on health information technology, and policy processes surrounding health reform.
Switching back to the roadmap we see in quarter 1 they are doing the token sale and in quarter 2 of 2018 they will have an expansion of the platform and care wallet, a rewards, program, and pre-authorization for medical services.
In quarter 4 they will have expansion of the platform 3.0 which will include provider direct scheduling and payments, and expansion of the care.protocol.
In the second quarter of 2019 they have some pretty cool stuff, and insurance id card with builit in plan benefits, provider payments via care.coins, and community publishd care cards. The team is dedicated to the project, with major product releases scheduled for every 6 months and minor product releases every 6 weeks.
In my opinion, this is an ICO that is flying under the radar. I haven’t it talked about it. They have a working product, client list, partnerships, solid team, and a clear roadmap. Well viewers I thanks you for watching, drinking, and learning with me. As always, I’ll see you tomorrow and happy trading. Cheers!