NANOHEALTHCARE IS A BLOCKCHAIN POWERED ECOSYSTEM FOR TOTAL HEALTH
NanoHealthCare Token
Despite the huge amount spent on health care each year which approximate about $300 billion there are still great challenges facing the industry. These challenges can be broadly classified into two parts which are systemic and technological. To better face these challenges both should be address simultaneously, and NanoHalthCare Token is addressing these existing healthcare data challenges in implementing total health using blockchain.
1.1 systemic challenges
The problem with health care providers today is that they cure based on symptoms which will not provide lasting health solutions, instead of providing preventive care. More to it is that they are not adequately equipped to offer people long term care, little wonder they focus on acute care.
The changing pattern to life expectancy and disease trends further aggravates the problem, though the study of future life expectancy of world population sampling 35 countries shows that life expectancy is supposed to increase, with the probability of 65% and 85% for women and men respectively. Yet there is still increase in premature deaths, as many people die from communicable and non-communicable diseases, injuries and nutritional diseases.
All these point to the fact that there is a desperate need for long-lasting care to patients, which can only be achieved through building a proactive and consistent care management solution. This is where NanoHealth has triumphed in creating and implementing.
1.2 Technical challenges
This is made up of six different parts which includes; Fragmentation, Data sharing, Data security and privacy, Integration of health and wellness data, Transactional costs and finally Complex billing and claims.
1.2.1 fragmentation
Because medical records are stored in paper notes, electronic health records, smart devices and specialized database, medical data becomes not readily accessible therefore getting important information about an individual’s complete health records is a challenge. NanoHealth is providing a solution to this fragmentation issue by ensuring proper data storage for insurance companies and keeping records of several clients for hospitals.
1.2.2 data sharing
Imagine that data exchange standards are managed across the healthcare sectors then a recent study shows that about $7billion will be saved and prevent the death of patients annually. Mexico is a good example of this and the efficiency of the system in just two years has been enormous and giving much praise. NanoHealth making good use of blockchain technology aims at taking globally.
1.2.3 data security and privacy
The health care industry experience more breaches than any other sector in the world and its databases are always susceptible to hacking and data-theft. NanoHealth is providing a lasting solution this problem.
1.2.4 Integration of health and wellness data
NanoHealth is interested in individual’s health as a whole rather than individual disease, incentivizing the user to produce accurate data pertaining to his health and wellness. As a result this has giving them more insight into patient’s lifestyle.
1.2.5 transactional cost
The inefficient payment process in the healthcare sector has brought about huge waste of funds because of the use of intermediaries by patients and providers.
1.2.6 complex billing and claims
NanoHealthcare is giving patients a clearer information about their financial responsibilities solving the problem of bills reconciliation despite limited understanding.
- NanoHealth
NanoHealth has focused its efforts toward creating a permanent solution on preventive, primary and continuous care for non-communicable diseases like obesity, hypertension, diabetes, thyroid and cholesterol since winning in 2014 the HULT Prize of $1million. With high success rate recorded on a large pool of patients about 75,000 making use of its app based technological solution in the past three years, the NanoHealthCare Token (NHCT) ecosystem aims to involve the users, health systems and payers to form a 360 degree healthcare solution.
It is currently leveraging four principal qualities of blockchain technology to create its ecosystem which are:
• Enhanced data protection and security through decentralized data storage
• Standardized, frictionless data exchange via distributed ledgers
• Integration of applications and tools using smart contracts
• Incentive based engagement using tokens to generate high quality medical and wellness data points
- PROOF OF TOTAL HEALTH
3.1 Three-Tier Model
Generally tokens are used to reward users for their patronage. NHCT has also implemented this strategy to encourage users to earn token and spend them, if they participate more they earn more. The ecosystem is built on three tier token structure which are: NHCT, Warmas and Wawa. Each token represent a specific level of verified activity as shown in the diagram below.
3.1.1Wawa
Wawa is the starting point in the NHCT Ecosystem. It is earned by an individual’s proof of care (calories). And each individual has a customized payout rate based on their health condition. More are earned by recording proof of cares on a NHCT partnered fitness device.
3.1.2 Warma
Warma is the second token level in the NanoHealth’s token structure. It is earned the same way as wawa except that it requires verifiability at a higher level which means a third party in the NanoHealth ecosystem verifying for the individual.
3.1.3 NHCT
NHCT this is the third and last token, in fact it is called the premium token and is the prime currency within the ecosystem which is primarily listed on exchanges. It can be used for payment of services from medical and wellness providers. Conversion from wawa and warma to NHCT is possible if the individual continuously improves his health, it can also be earned by participating in the services market in the ecosystem or by uploading medical data that is signed by certified medical practitioners.
3.2 Intra and Inter Conversion of Tokens
The calories are the first pattern used in earning tokens from the NHCT ecosystem. The initial exchange rates are:
50 cal = 1 wawa and
100 cal = 1 warma;
100 wawas = 1 NHCT and
50 warmas – 1 NHCT;
Wawa and Warma tokens are internal ecosystem tokens and are seen as raw materials for the purpose of converting them to NHCTs. Yet one cannot trade with them on the ecosystem initially until governing process enlarges more with the growing number of verification points.
3.3 Token Flow
For the ensuring of total involvement of the user and all the ecosystem participants in his /her health and wellbeing the token flow has been designed to meet with this need as depicted on the diagram below;
These NHCT tokens can be spent at any partner Health and wellness provider within the ecosystem, which includes:
Hospital/Clinical Consultation
Medicine and Refills
Gyms and Fitness Spas
Medical Diagnostics and Examination
Continuous Care and Home Services
Wellness Stores
Insurance Partners.
Technical Architecture
4.1 User Ecosystem
The ecosystem app has a mobile and web interface. The users consists of patients, medical and wellnessservice providers, pharmaceuticals, insurance companies, corporations with employees and governments which need correct healthcare data from time to time. It permits messaging of peers between users, access to support groups, and access to one’s own health data without the fear of leaking out to a third party.
4.2 Middleware
Because of the confidentiality of healthcare data, NHCT proposal utilizes two aspects of blockchain platforms.
• One, a permissioned blockchain, viz., Hyperledger, which manages all healthcare data, users and roles,proprietary algorithms for healthcare management and prediction.
• Two, the public Ethereum blockchain, for managing NHCT utility tokens for NHCT execution. Tokens arerequired for storing new data by the users while external agents requiring the same healthcare dataneed to spend tokens.
CONCLUSION
NanoHealthCare Token ecosystem is one of the best platforms an individual should want to invest in now because of its enormous health benefits, vision and growth rate, with a road map of over 1 million users by 2020. Little wonder its platform on blockchain is in a decentralized manner across the entire healthcare industry which is planned at hitting globally.
For more information visit:
- Whitepaper: https://drive.google.com/open?id=1GAqoyOxEKgz8CbXUNw7g0HTh95VpvLh7
- Website: https://www.nhct.io/
- Telegram: https://t.me/Nanohealth
- Twitter: https://twitter.com/NHCToken
- Medium: https://medium.com/nhct-nanohealth-care-token
Published by Delightme
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