Healthcare has exploded with growth numerous times over the last few decades—technology additions such as EKG/EEGs, MRI/fMRIs, robotic surgery options, and more have kept healthcare at the forefront of technological advancement. A new project, Pharmeum.io is working toward a safer healthcare industry.
In these periods of explosive growth, however, many important things have been forgotten, such as refining the prescription process and the rest of the pharmaceutical supply chain.
Pharmeum allows doctors, pharmacies, regulators, and patients to coexist in an ecosystem powered by honesty. Doctors’ prescription histories are available at will and patients’ health history can be monitored to prevent incorrect medication or dosage instructions.
By overlaying the current, digital-analog hybrid system into a fully digital, blockchain-based system, Pharmeum is allowing doctors to reduce their amount of wasted effort and reducing the potential for incorrect diagnosis, treatment, and prescription assignment. This can be accomplished by using tablets and laptops for medical record collection and dissemination as well as implementing a medication pad.
What Can Pharmeum’s Ideal Business Structure Do?
The Pharmeum roadmap highlights heavy reliance on technology that, once achieved, can help with predictive medical care by analyzing patient health history and evolving patterns as well as provide definite auditability of prescriptions and medication flows.
Building on the overlay mentioned above, Pharmeum is working to include an artificial intelligence aspect which will let them process patient history, family history, symptom information, and other data to create diagnoses earlier in case of terminal illness. This both reduces costs and helps improve patient satisfaction and quality of life.
We’ve all been caught in line at the pharmacy while they call our physician and verify the prescription—especially for treatments we receive regularly. Why does this process remain so complicated, wasting precious minutes and hours of our lives? Pharmeum seeks to resolve this issue with blockchain, writing review periods into prescription smart contracts to minimize the time individuals spend waiting on medication.
Other areas of healthcare that can receive efficiency increases include:
- Health insurance claim
- New patient intake
- Medical questionnaires
- Referral visits
According to the British Medical Journal, 70 percent of medication-related treatment errors come from the prescribing process alone. 80 percent of these could be reduced or eliminated with an efficient, digitized prescription system. Overall, medical error ranks third for cause of death, accounting for over half as many deaths as cancer.
NHS hospitals in the U.S. spend 25 percent of their budget on administrative tasks—one-quarter of the total spending is ripe for disruption and offers huge potential for cost reduction. Globally, the U.S. spends 20 percent of the entire GDP on healthcare. Cost reduction in medical facilities can act to lower healthcare costs across the board. Other areas for cost reduction include early-stage diagnosis, prescription cost consistency, and time inefficiency for doctors.
According to Forbes, patients overpay for their medication 23 percent of the time.
What does Pharmeum’s token ecosystem look like?
Technology included in Pharmeum blockchain includes zero-knowledge proofs, prescription tokens, medicine asset tokens, and PHRM tokens. Personally Identifiable Information (PII) will be stored off-chain, while non-PII will be stored on-chain for use with artificial intelligence and other factors.
PHRM tokens can be used to pay for medical care, second opinions, medicine, and other beneficial healthcare expenses. Patients will receive PHRM tokens for sharing their healthcare data with other businesses—a more common model in the blockchain-based economies which are currently springing up around the globe.
Token allocation data:
Pharmeum Token Cap: 750,000,000
ICO Tokens Sold: 55% including pre-sale
Team & Partner Tokens Held: 20%
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.
Tezos price looking at 20% bounce after holding $2.0 level
XTZ/USD price has declined 5% today but could rebound by more than 20% if bulls maintain upward pressure towards a key level
The price of Tezos’ token XTZ is changing hands around $2.13, up from 24 – hour lows of $2.04 registered yesterday. The token’s price however remains nearly 5% down during this period.
The downtrend witnessed over the past week had seen Tezos bulls finding it hard to crack resistance at a key level, which meant a potential retest of recent lows.
XTZ/USD on the 1 – hour price chart suggests an ascending parallel channel is forming. However, the upside is capped around the current price level, with the SMA50 and SMA100 providing key hurdles. The bounce on the hourly chart is likely to happen given the upturned RSI.
A break above the moving averages could see buyers push for prices around $2.2, which suggests a 20% uptick from current levels.
XTZ/USD 1-hour chart. Source: TradingView
The outlook on the 4 – hour chart is also positive as seen in the three green candles with lower highs and higher lows. It appears that the bulls are trying to defend gains after slipping below the SMA50, SMA100 and SMA200.
The moving averages are clustered around $2.18 and $2.22, which means a break above these levels could give bulls the motivation to attack resistance around $2.40. The MACD is suggesting a bullish divergence, while the RSI remains upturned after climbing out of the oversold territory.
Although bulls are targeting a break above $2.2, the outlook will turn bearish if downward pressure cracks the lower limit of the formed ascending parallel channel.
In this case, bulls will have to defend the support zone around $2.10 below while bears could easily plunge XTZ/USD to $2.04. An extended downside means that the next target for bears is $1.9.
Altcoins seeing red
As the Bitcoin price looks to hold gains above $12,000, most altcoins are registering losses or insignificant upsides which suggests that the money is flowing into the top cryptocurrency.
Ethereum’s price as a percentage of Bitcoin is down to about 3%, with the Ether bulls likely to cede the initiative to the bears if the price tanks below $350.
Zcash (ZEC) and NEM (XEM) are among the biggest losers with their respective prices tanking by more than 10% in the past 24 hours. ChainLink (LINK), Filecoin (FIL), and Crypto.com Coin (CRO) are down 4%-7% on the day.
While top altcoins continue to struggle, nearly $2 billion has been wiped off the total altcoin market cap in just 24 hours. Meanwhile, Bitcoin’s dominance index has jumped to 60.6%, according to data from CoinMarketCap.
Bitcoin SV, Stellar Lumens, Dogecoin Price Analysis: 21 October
As Bitcoin closed above $12,000 once more, it was pertinent to ask if the altcoin market would follow. Would traders sell altcoins to follow Bitcoin’s gains? The rising Bitcoin Dominance suggested, yes. Bitcoin SV formed a bullish divergence and made gains in the past few hours, while Stellar Lumens witnessed strong buying volume. Dogecoin was making some gains in the short-term, but the longer-term bearish trend also loomed over the asset.
Bitcoin SV [BSV]
BSV slipped beneath the short-term range from $158 to $174. However, the asset’s sellers were unable to drive prices lower as the RSI signaled a bullish divergence which saw BSV reclaim the range’s low.
The RSI moved past 50 to indicate bullish momentum, and BSV could see steady gains in the coming days alongside a bullish Bitcoin.
On the other hand, if BSV stalled at $158 for a couple of days, it might indicate that the price was headed lower.
Stellar Lumens [XLM]
Both the CMF and the OBV highlighted the strong buying present behind XLM’s recent move from $0.072 to $0.086. The OBV has set higher lows (white), and the outlook for the asset would be bullish in the coming days provided OBV does not dip beneath the ascending trendline.
The CMF showed neutrality at press time as buyers and sellers were in equilibrium in the market.
The price would have to close above $0.084
DOGE was moving in an ascending channel as the level of $0.00257 was defended once more. The Directional Movement Index picked up steam as the ADX (yellow) moved above 20, indicating a strong trend was in progress. +DI (blue) highlighted the bullish nature of the trend.
Trading volumes have not been standstill in the past few days either, showing legitimate interest behind the asset in its most recent bounce.
The asset also posted a new low against BTC recently as Bitcoin surged past $12,200 while DOGE languished at support. DOGE/BTC was last trading at this value in 2017, December.
Bitcoin’s Record-Breaking Run Attracts More Wall Street Money
Bitcoin’s hot streak is proving an irresistible prospect for Wall Street investors while stocks and shares slip and slide.
- AAX continues its record-breaking run above $10,000.
- Institutional investors continue to flock to the cryptocurrency as a hedge against rocky stock markets.
- Euro stocks slide as further lockdowns seem increasingly likely.
Just yesterday the Decrypt Market Watch was talking about Bitcoin’s stellar performance, especially when compared to stocks and shares. Today its run of good fortune continues, shooting past the $12,000 mark for the third time in 2020.
While you may be thinking, “so what, it’s done this before!” This time things are different. Bitcoin has been above $10,000 for 83 consecutive days, beating out the previous record of 62 days set in the halcyon era of December 2017.
Another point of note is Bitcoin’s stability relative to the last time it passed the $12k mark. In August this year, the price pinged around the $12k before sliding down aggressively. In the last 30 days, volatility has stuck around 1.5% – putting it within touching distance of gold’s 1.2% monthly volatility. Bitcoin’s price fluctuations are evening out, for now at least.
“Previous instances when Bitcoin has been this high, it’s been followed by significant drops, which keeps investors from seeing the asset as a genuine hedge against market fluctuations elsewhere in their portfolio. But this time the signals appear to suggest things are more stable,” says a spokesperson from AAX, the world’s first digital asset exchange powered by the London Stock Exchange.
It’s no wonder investors are piling in. The number of Bitcoin addresses holding more than 0.1 coins, (currently about $1,188) has hit an all-time high, and the number of addresses holding more than 100 coins (currently $1,188 million) has reached a six-month high, according to Glassnode.
That’s been reflected at the institutional end, too. The total value of assets managed by crypto-focused investment company Grayscale reached $6.5 billion for the first time, according to the firm.
The biggest of the company’s trusts by far—Grayscale Bitcoin Trust (GBTC)—currently exceeds $5.4 billion. According to Bitcoin Treasuries, publicly traded companies, including Grayscale, now hold a total of 785,999 BTC—worth around $9.18 billion currently. And the number keeps on growing.
It’s little surprise when you see the jitters in the stock markets.
Stocks still looking for clarity over US stimulus
We’ve seen the impacts of what happens when a senior US official talks about Bitcoin, but political posturing is a daily occurrence in fiat markets.
While several indices in Asia had risen in partnership with US markets on stimulus hopes for the COVID stricken economy, European stocks slid in early trading.
The FTSE 100 dropped 1.3% as a rising pound ate into export-focused stocks, while Germany’s DAX and France’s CAC 40 also lost similar numbers as new lockdowns appear increasingly likely across the continent.
One note of consolation for investors is the US election is due to take place as planned on November 3. Whatever happens, it will likely give investors much-needed clarity over when and if there will be fresh fiscal stimulus. For crypto investors however, November 5 would mark the 100th day above $10,000.
You choose which is the better omen.
Sponsored by AAX
This sponsored article was created by Decrypt Studio. Learn More about partnering with Decrypt Studio.
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