Blockchain technology has already been successfully implemented into many areas of people’s everyday life, and continues to cover new fields. But among all the existing appications, the use of distributed ledger technology (DLT) in healthcare still remains the prevalent one, and is touted as a total upgrade to the health service industry.
From the management and security of data, to medical device and drug tracking, the blockchain is believed to have an almost limitless capacity to transform healthcare practices today. There are many inefficiencies that blockchain can resolve and lead to a healthier and happier global population.
The fragmentation of data and records stored within silos means that vital information is kept away from its immediate needs, can suffer from a single-point failure, and is vulnerable to hacks and data corruption. Furthermore, global health standards are also to suffer from rapidly rising healthcare costs and expenditures.
A startup called NanoHealthCare Token, NHCT for short, is currently in the process of building a health management platform that would be preventative rather than reactive in its approach to medical care. According to the company’s website, the usage of blockchain technology can help to circumvent systemic issues that arise with high costs, data fragmentation and security.
Through a robust and exciting mobile application, users can track and monitor their health by collecting data from gadgets and other apps like Google Fit and Apple Health Kit. Users can also book doctors’ appointments and order lab tests to their homes. Furthermore, the NHCT app can give doctors a scope of a patient’s medical history and present health status.
Users are incentivized to live a healthy life with a three-tier token system. The Wawa Token is earned by making healthy decisions and recording activities. The Warma Token is earned when a healthy activity is verified by others, like a tennis match or a marathon. Finally, the NHCT Token is earned by uploading data that is clinically verified. NHCT can then be utilized to pay doctors, insurers and even gym memberships.
Accoeding to Nagarjuna Vangala, CTO of NHCT:
“Blockchain is a natural fit for what we are trying to achieve at NHCT. Its inherent security & decentralization is perfect for correcting what ails the healthcare of today. The idea is to give the control of data back to where it belongs: to the users.”
The NHCT platform can boast a reach of 75,000 users, who have already received medical care from NHCT’s Health Coaches within the platform’s ecosystem. Furthermore, NHCT was the recipient of a $1,000,000 USD seed finding grant after winning the HULT prize in 2014.
On October 1, 2018, NHCT began the token distribution event (TGE) with a total of 1,000,000,000 NHCT tokens available. 350,000,000,000 have been allocated for the token sale. The primary rate is USD 0.032 per 1 NHCT. The event is currently live, offering its participants a 35% bonus until October 15, which will be reduced to 25% until October 31.
With a soft cap of $1,000,000 and a hard cap of $9,000,000, the NHCT token sale has a guaranteed capital protection, meaning that those investing over USD 100,000 will be offered equity backing to secure their investment.