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Top 5 Healthcare Altcoins

Coin Codex 2019-08-28 21:29:36

Although blockchain technology has entered the international financial system, IT, IoT and other industrial sectors,  we don't often hear about blockchain used in the undeniably important healthcare sector.

In this article, we'll have a look at 5 healthcare and biotechnology companies that found their way into the distributed ledger scene via various blockchain-backed solutions, and see how each one of them attempts to upscale the respective organizations' operations.

1. Solve.Care

The leading project utilizing blockchain technology in the healthcare industry would be Solve SOLVE, 8.49%, with a market capitalization of $38.53 million USD.

Solve offers a series of decentralized products branded as "Care" services to its respective customers. A personalized healthcare administrator platform for individuals and healthcare providers, a digital wallet for storing, distributing, and performing payments in the network, utilizing Care coin, Solve's native currency, as well as a vault for your personal data, from where you can manage and organize accessibility to it.

In 2018, the Arizona Care Network (ACN) started to use Solve.Care's wallets to change the way Physicians manage patient data. The organization managed to reduce costs and improve patient outcomes using the wallet.

In 2019, ACN won a NAACOS Innovation Award for their implementation of Solve.Care's "Care.Wallet". 

Essentially, the platform allows individual users/patients to have better access to their medical status, direct communication with experts that are relevant to a patient's situation, and perform payments faster and easily, in an encrypted fashion. 

2. Lympo

Lympo LYM, 0.31% is a blockchain-powered app that lets its users monetize their healthcare and sports data. Users receive LYM tokens for achieving various health and fitness-related goals, and the tokens can be used to purchase services in the Lympo marketplace - consultations with personal trainers, for example. LYM tokens can also be used to invest in companies that leverage user-generated data in the health and fitness industry.

The project's idea of connecting cryptocurrency with technologies such as wearables and gamification could prove to be very popular. Lympo also uses AI-powered camera recognition - for example, the app can detect that the user is performing an exercise such as squats and rewards them with tokens for completing challenges.

3. MediBloc

Medibloc MED, -5.89% is one of the first blockchain projects tailored for the healthcare industry as long and it has gained significant attention from mainstream media, academia, and big pharma.

MediBloc offers what they call a "safe and reliable healthcare data platform", where individual patients can utilize their data for personalized precision medicine, big data-based prediction of diseases, and personalized medical research among other services. 

MediBloc connects patients, doctors, researchers, pharmaceutical companies and insurers under a blockchain ribbon, where they can store, exchange, and monetize personal medical data, always in an encrypted fashion and with the consent of the data owner. Unlike Solve, which is an ERC-20 token, MediBlock is running on Qtum's main blockchain and not Ethereum. 

4. Dentacoin

As its name suggests, Dentacoin DCN, -0.50% is a project focused on the dental industry that brings dentists and dental patients from all over the globe together in order to offer patient-centered care and intelligent prevention used jointly to improve long-term health, reduce costs and pain, and ensure mutual benefits between patients and dental service providers. 

Similar to the previously mentioned projects, Dentacoin has its own ecosystem with DApps, or decentralized apps, that help the user find the right doctor for them. 

Dentacoin offers its own digital wallet to store your DCN, which you can use to explore a huge partner network and request the right doctor for your case.
In addition, you can share your experiences or check other reviews and tip the doctor.

5. EncrypGen

Finally last, but not least, EncrypGen DNA, -1.13% is topping this list, offering a way to earn on your genetic code. That's right! You can perform a DNA-sequencing in an accredited lab, export your data in the 23andMe format, and upload it to EncrypGen's blockchain-powered network of academics, researchers, and genomic industry representatives.

All the above will seek for various specimens with various characteristics to scale-up genomic, medicine, and scientific research, and if your data falls in their requested category you can get compensated for sharing it, always with your consent, in an immutable and decentralized manner. 

This particular intersection of blockchain and healtchare is probably the most interesting to keep an eye on - even though there is demand for general personal medical data , genetic data can be particularly valuable.

Other notable mentions:

  • Zenome (ZNA)
  • ARNA Genomics (RNA)
  • Humanscape (HUM)
  • Kuende (KUE)

Overall, there are reportedly 32 digital currencies linked to medical products and/or services, with a combined market capitalization that doesn't surpass $140 million in USD. 
That would be roughly 0.05% of the total market capitalization when it comes to cryptocurrencies, making blockchain in healthcare a very small portion of the market.

As the list suggests, most of the companies utilizing blockchain for the medical sector are focused on data privacy, and data share security and intergrity.

That's one important thing to consider in the context of GDPR and similar regulative acts on the subject of personal information, but is this the only area where the healtchare industry could benefit from blockchain technology?

I doubt it, although I can agree that it is still too early for such a huge industry to leave their multi-trillion-dollar network and go all in on blockchain.

Although blockchain technology has entered the international financial system, IT, IoT and other industrial sectors,  we don't often hear about blockchain used in the undeniably important healthcare sector.

In this article, we'll have a look at 5 healthcare and biotechnology companies that found their way into the distributed ledger scene via various blockchain-backed solutions, and see how each one of them attempts to upscale the respective organizations' operations.

1. Solve.Care

The leading project utilizing blockchain technology in the healthcare industry would be Solve SOLVE, 8.49%, with a market capitalization of $38.53 million USD.

Solve offers a series of decentralized products branded as "Care" services to its respective customers. A personalized healthcare administrator platform for individuals and healthcare providers, a digital wallet for storing, distributing, and performing payments in the network, utilizing Care coin, Solve's native currency, as well as a vault for your personal data, from where you can manage and organize accessibility to it.

In 2018, the Arizona Care Network (ACN) started to use Solve.Care's wallets to change the way Physicians manage patient data. The organization managed to reduce costs and improve patient outcomes using the wallet.

In 2019, ACN won a NAACOS Innovation Award for their implementation of Solve.Care's "Care.Wallet". 

Essentially, the platform allows individual users/patients to have better access to their medical status, direct communication with experts that are relevant to a patient's situation, and perform payments faster and easily, in an encrypted fashion. 

2. Lympo

Lympo LYM, 0.31% is a blockchain-powered app that lets its users monetize their healthcare and sports data. Users receive LYM tokens for achieving various health and fitness-related goals, and the tokens can be used to purchase services in the Lympo marketplace - consultations with personal trainers, for example. LYM tokens can also be used to invest in companies that leverage user-generated data in the health and fitness industry.

The project's idea of connecting cryptocurrency with technologies such as wearables and gamification could prove to be very popular. Lympo also uses AI-powered camera recognition - for example, the app can detect that the user is performing an exercise such as squats and rewards them with tokens for completing challenges.

3. MediBloc

Medibloc MED, -5.89% is one of the first blockchain projects tailored for the healthcare industry as long and it has gained significant attention from mainstream media, academia, and big pharma.

MediBloc offers what they call a "safe and reliable healthcare data platform", where individual patients can utilize their data for personalized precision medicine, big data-based prediction of diseases, and personalized medical research among other services. 

MediBloc connects patients, doctors, researchers, pharmaceutical companies and insurers under a blockchain ribbon, where they can store, exchange, and monetize personal medical data, always in an encrypted fashion and with the consent of the data owner. Unlike Solve, which is an ERC-20 token, MediBlock is running on Qtum's main blockchain and not Ethereum. 


4. Dentacoin

As its name suggests, Dentacoin DCN, -0.50% is a project focused on the dental industry that brings dentists and dental patients from all over the globe together in order to offer patient-centered care and intelligent prevention used jointly to improve long-term health, reduce costs and pain, and ensure mutual benefits between patients and dental service providers. 

Similar to the previously mentioned projects, Dentacoin has its own ecosystem with DApps, or decentralized apps, that help the user find the right doctor for them. 

Dentacoin offers its own digital wallet to store your DCN, which you can use to explore a huge partner network and request the right doctor for your case.
In addition, you can share your experiences or check other reviews and tip the doctor.

5. EncrypGen

Finally last, but not least, EncrypGen DNA, -1.13% is topping this list, offering a way to earn on your genetic code. That's right! You can perform a DNA-sequencing in an accredited lab, export your data in the 23andMe format, and upload it to EncrypGen's blockchain-powered network of academics, researchers, and genomic industry representatives.

All the above will seek for various specimens with various characteristics to scale-up genomic, medicine, and scientific research, and if your data falls in their requested category you can get compensated for sharing it, always with your consent, in an immutable and decentralized manner. 

This particular intersection of blockchain and healtchare is probably the most interesting to keep an eye on - even though there is demand for general personal medical data , genetic data can be particularly valuable.

Other notable mentions:

  • Zenome (ZNA)
  • ARNA Genomics (RNA)
  • Humanscape (HUM)
  • Kuende (KUE)

Overall, there are reportedly 32 digital currencies linked to medical products and/or services, with a combined market capitalization that doesn't surpass $140 million in USD. 
That would be roughly 0.05% of the total market capitalization when it comes to cryptocurrencies, making blockchain in healthcare a very small portion of the market.

As the list suggests, most of the companies utilizing blockchain for the medical sector are focused on data privacy, and data share security and intergrity.

That's one important thing to consider in the context of GDPR and similar regulative acts on the subject of personal information, but is this the only area where the healtchare industry could benefit from blockchain technology?

I doubt it, although I can agree that it is still too early for such a huge industry to leave their multi-trillion-dollar network and go all in on blockchain.