In the midst of digital transformation, the healthcare industry continues to look for new ways to advance research without compromising patient privacy or patient welfare. Doc.com’s innovative approach to healthcare uses blockchain technology to secure patient data while providing free healthcare to all those in its coverage areas. Telemedicine for all may means one step forward into a world where everyone has access to quality healthcare regardless of economic situation or geographic location.
Founded in 2012 in Latin America, Doc.com currently provides free telemedicine access to patients throughout the world, including the Americas and Europe, with plans to expand their network further in 2019 and beyond. Their platform connects patients to actual doctors via online web apps. In addition to providing services to patients, Doc.com also keeps treatment data and tracks patterns for use by the medical community as a whole. Patients and healthcare providers receive “payment” in the form of MTC (Medical Token Currency) via Doc.com’s proprietary Doc Token and also in the form of free healthcare services. Patients and healthcare providers can then use Doc.com’s MTC in order to pay for services and for access to data.
Doc.com uses a comprehensive software suite to meet the needs of patients and providers. Key components of the suite include the UME (User Matching Engine, the CDHAIE (Cross-Diagnosis Human-AI Engine), and the SPR (Smart Patient Routing). Together, these three systems help patients to find the right doctor, find the right treatment for the systems using advanced AI, and finally find the right referrals for ongoing treatment options. These software systems allow Doc.com’s platform to respond quickly and efficiently to patient needs. Currently, Doc.com serves several thousand patients each day.
The global healthcare industry stands at a crossroads when it comes to digitization and the value of healthcare. Big data in healthcare, data collected from a useful diversity of sources, holds great value to researchers and to the keepers of that data alike. All too often, this data becomes siloed when it should be shared. On the other side of the equation, patients especially in low-income, high-population areas rarely receive anything in return for the valuable healthcare information they could and should be sharing with the world.
Essentially, Doc.com’s blockchain-based platform seeks to bridge this divide by attaching value to the data that patients share and then charging those who want to access that data. In order to tokenize valuable data, they have created an encrypted database that contains consolidated healthcare statistics without identifying individual patients. Access tokens then give holders the right to access large-volume, encrypted information along with other related services. Blockchain-backed currency allow holders – patients and healthcare providers alike – to share in a wealth of publicly-available knowledge provided by patients within the network, knowledge guaranteed to be accurate without infringing on patient privacy.
Doc.com impacts a range of interested parties with a stake in their platform, from patients to regional governments.
Patients in need of medical assistance can use the Doc.com app several times a month in order to report symptoms and access actual doctors via telemedicine. These consults cost them nothing while offering real-time health assistance. In an age where people all too often turn to WebMD and similar apps for inaccurate self-diagnosis, these free consults can literally save lives.
2. Medical Professionals
Doctors and healthcare partners can also buy into – and receive payment from – Doc.com in exchange for retrieving and sharing information. Information silos continue to be a serious problem for the healthcare industry, where precious data and resources continue to be hoarded in one location despite being desperately needed in another. Doc.com seeks to allow for wider collaboration and sharing of data. Doctors can choose to receive patients via the app, trusting on routing software to efficiently send patients to them. Tokenization then allows for payment in kind, for example data for further research.
3. Third Parties
Another major tier in the Doc.com scheme, a range of healthcare-related entities have a vested interest in the information Doc.com continues to gather. From drug manufacturers to local governments and non-profits, Doc.com cultivate mutually-beneficial partnerships in all the areas it serves. Anyone with a valid interest can purchase and use Doc Tokens for research and related disciplines.
Businesses like Doc.com continue to raise the bar when it comes to healthcare innovation, shaping the path of healthcare for years to come.
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Brennan is a blockchain technical adviser in the healthcare sector and blockchain entrepreneur who has worked on developing proprietary concepts for both artificial intelligence and enterprise blockchain. He is a graduate of Rutgers University School of Health Professions where he earned a M.S. in biomedical informatics.
Uniswap could be a stumbling block for DeFi decentralization
Unsiwap’s governance vote has been a hot and controversial topic, with questions raised surrounding its centralisation
There are concerns that an Ethereum flash crash may happen when UNI mining is concluded in November. Industry experts have embarked on finding more flaws in addition to the centralisation concerns resulting from Uniswap’s first governance vote.
The last whale account took the proposing side of Dharma. The conclusion of the vote, therefore, means only a handful of addresses with the majority of UNI tokens will have governance power.
It is worth noting that three addresses accounted for nearly all 39.5 million votes in support of the proposal, with only about 700,000 in opposition. The Dharma and Gauntlet proposals’ approval gives them a majority if they agree on any upcoming decision. However, this isn’t the only thing to worry about.
According to Ryan Berckmans from Predictions Global, the governance could be a hindrance to the DeFi sector. Berckmans also predicts that the central control could impact volatility on Uniswap.
Another concern is the conclusion of UNI liquidity mining on November 17. Berckmans points out that about $800 million in Ethereum will be pulled out from the pools when they ultimately expire. This, in turn, could result in a flash crash and even disrupt the whole decentralised finance sector.
In his opinion, the feasible way of keeping the sector stabilised is by perpetuating the UNI farming incentive. He also recommended designating executives to act as governance officers similar to what Ethereum has adopted with Tim Beiko and the new EIP 1559 fee proposal.
Ethereum 2.0 could be two months away or less
Based on updates from the developers involved in the project, Ethereum 2.0 could be six to eight weeks away from completion
It has been a week since the second testnet (Zinken) was successfully deployed for Ethereum 2.0. The success of the second trial watered down any doubts and concerns from the first Spadina testnet that it was to be a failure.
Developer Ben Edgington shared an update on the Ethereum 2.0 project yesterday, detailing news from the Beacon Chain testing. The update revolved around the publishing of the first release candidate for Phase 0.
The post read, “Your newest news in #Ethereum 2.0 is here! https://t.co/97X85jdCzM. Sorry it’s a bit late, and a bit rushed. I took some time off; it was nice 😎 Back now, refreshed and raring to go 🚀”
Edgington asserted that the deposit contract was now ‘good to go’ and hinted that the Beacon Chain genesis would be available in about six to eight weeks. Of course, this is only an estimate, and there’s no guarantee that things will turn out that way. So far, there hasn’t been an announcement regarding the official launch date.
He also talked about depositing to fake contracts — a possible likelihood in the subsequent stages.
“Many fake deposit contracts and Launchpad front-ends will erupt in the coming days. Look out for the official announcements: do not send Eth to random contracts; this is not DeFi.”
The developer emphasised the need for more client diversity around the network, saying that the collective effort would be crucial in the success of the project. He went on to add that Prysm was still the leading player after the firm developed its own ETH 2.0 client.
Black Monday Anniversary: Why Bitcoin Investors Should Be Concerned
Today marks the 33rd anniversary of the Black Monday on Wall Street that sent stocks setting historic records for intraday declines. Although this year already had a similar day of its own, there’s reason to believe that another collapse could happen in Bitcoin.
Here are the primary factors behind what could cause the crypto market to drop on the ominous anniversary.
Will Bitcoin Bow To Black Monday Anniversary?
Black Thursday is a day that crypto investors won’t soon forget. In a flash, Bitcoin price plummeted from over $7,000 to under $4,000, after just a few weeks prior trading well above $10,000. The more than 60% fall came to a climax on March 12, 2020.
All markets felt the sting of the panic and mad dash into the safe haven of cash. However, after that day, markets rebounded into a V-shaped recovery. Bitcoin and the S&P 500 set a new high in 2020, but the Dow Jones failed to put in a higher high which could be more foretelling about the overall state of the US economy.
RELATED READING | WHY A “BLUE WAVE” BIDEN WIN COULD BE THE BEST SCENARIO FOR BITCOIN
Although asset valuations across major stock indices and crypto assets are back at, or close to 2020 highs, the uncertainty around the election has investors taking a pause. Analysts and economists claim upside is limited in stocks, and various technical indicators point to a long-term top potentially being put in on the stock market.
Bitcoin following Black Monday price pattern from 1987 | Source: BTCUSD on TradingView.com
Weakness in stocks and the tech bubble finally popping could cause an anniversary selloff on the 33rd year since the Black Monday collapse in 1987. That day the S&P 500 saw a historic collapse, and it could happen again. According to a chart shared on Reddit, the S&P 500 is closely following the same pattern and price action that led up to that day.
And due to the ongoing correlation between crypto and stocks, even Bitcoin is following this pattern.
Crypto’s Continued Correlation With Stocks Could Spell Disaster
Since Black Thursday, the correlation between the top crypto asset and the most popular stock index in the United States, have traded lock and step. Bitcoin spent its entire life up until this year being positioned as an uncorrelated asset, but overall market sentiment matching across stocks and crypto has the two assets classes matching eerily closely.
Because Bitcoin remains so tightly correlated to the S&P 500, any steep selloff in stocks, either today on the dark day’s anniversary or in the near future, the cryptocurrency could also be in trouble again.
Cryptocurrency's sudden correlation with the S&P 500 stock market index | Source: SPX on TradingView.com
Top crypto fundamental experts claim that Bitcoin will soon decouple from stocks due to the growth of the underlying network. Fundamentally, Bitcoin has never been stronger than before, while stocks are fundamentally at their weakest in years due to the current economic conditions.
If stocks do collapse and Bitcoin withstands, the decoupling could lead to stock market capital flowing into crypto, and further push the asset to never before believed heights.
Featured image from Deposit Photos, charts from TradingView.com
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