Blockchain Healthcare Ecosystem in 2018
Organizations in finance, entertainment, education and many more industries are rushing to be a part of the blockchain era. Even though the healthcare sector is traditionally a conservative and slowly adapting industry, the blockchain technology is increasingly applied here as well. While in 2017 only about 14% of the healthcare organizations were using blockchain technology, it is estimated to be up to 35% by the end of 2018.
Company after company is popping up, trying to revolutionize the health business and large sums are spent to make just that happen. In 2018 the blockchain-healthcare industry is estimated to be worth around US$ 175 million. Estimations for the year 2025 amount up to US$ 5.6 billion. Looking at examples like MEDIBLOC, raising US$ 30 million, and MEDICALCHAIN, raising US$ 24 million, this trend is no miracle.
The great transparency and accessibility, that the blockchain provides, makes amazing projects possible. Creating transparency, eliminating third-party intermediaries, streamlining operational processes and curbing large costs are just some of the opportunities, made possible through the blockchain.
In healthcare there are different types of blockchain companies arising on a daily basis. In the following the different types of blockchain companies will be discussed in detail:
- Financial blockchain (medical billing)
- Informational / Social blockchain start-ups
- Niche healthcare companies
- DNA databases & marketplaces
- EHR companies
- Marketplace (medical provider)
- Marketplace (services)
- Marketplace (data)
- Marketplace (goods)
- (Incentivized) prevention
- Supply chain
- Telemedicine start-ups
1. Financial blockchain companies
Citizen Health is building a decentralized health information and payment layer to enable medical treatments of patients and healthcare exchange between doctors and patients. The ICO phase of Citizen Health is still ongoing until the end of August 2018.
CareX is a blockchain-based alternative to insurances using the token CARE for healthcare payments. Using the CareX platform, patients can control their health records and purchase healthcare services at a reduced cost. CARE can be used to purchase and sell healthcare services. The CareX wallet can be used to host medical records, granting short-term access to providers as needed and decided upon. On May 22nd 2018, CareX has raised a total sum of US$ 10 million with completing the token sale.
Docademic is a crypto currency that can be used to exchange informational data and healthcare services. A total of US$ 1.1 million has been raised during their two and a half months of ICO beginning of 2018.
ARNA Genomics is specializing in the development of blood tests for the early diagnosis of cancer. The breast cancer DNA-based diagnosis test is already available in the early stage and can be bought using ARNA tokens. In addition to that, ARNA is developing the platform “Arna Panacea” to connect the healthcare market. It will be used to validate health data and treatment success, as well as to store patient information. The ICO of ARNA Panacea has officially ended in February 2018.
Aenco is developing a blockchain-based financial platform for healthcare. It addresses institutional financing, brokerage and smart capital solutions for healthtech as well as research and collaboration for blockchain healthcare companies. Aenco’s ICO just started at the beginning of July 2018 and is ongoing until the 8th of August 2018.
2. Informational / Social blockchain start-ups
PeerAtlas is designing a peer-reviewed medical encyclopedia, making medical information accessible for free. PeerAtlas will develop an AI technology that combines medical recommendations with real patient information. Verified creators of articles will be able to earn “ATLAS” tokens. PeerAtlas’ ICO started in January 2018 and it still needs to be decided upon the end date of the ICO.
Aimedis combines health data, online prescriptions, video consultation with doctors, medical hardware, your smart devices, and more on a single platform on PCs, smartphone and tablets. The ICO of Aimedis ICO started at the end of June 2018 and will go on until September.
3. Specialized healthcare companies
Opu is a “pocket skin clinic” being a digital solution provider for skincare measurement, management, and monitoring. Opu is still in their pre-ICO phase, and their ICO will close on the 10th of July 2018.
Dentacoin is a blockchain platform regulated by smart contracts for the dental industry. Dentacoin aims to transform dentistry through distinct software solutions and the industry-specific cryptocurrency (Dentacoin, DCN). It contains a decentralized review platform rewarding patients and dentists who make contributions that benefit the community.
4. DNA databases
SHIVOM is building a genomic data database to translate genomic data into usable information. Patients contributing their genomic data, can decide to share it and earn rewards by doing so. SHIVOM as well will create a marketplace, to which healthcare providers can add services and apps. The ICO of Shivom has ended in May 2018.
Zenome is a Blockchain marketplace to sell DNA data enriched with additional questionnaire data.
Nebula Genomics is a marketplace for selling personal genomic data to lower the prices of sequencing and support research.
5. EHR companies
MEDIS is a blockchain-based solution for storing, accessing and sharing medical records. Using MDC, patients are able to pay for services, or get paid for offering their medical data for example to research institutions or hospitals.
iRegMed is an electronic patient file for regenerative forms of therapy and research. It combines medical treatments with the safeguarding of personal and scientific data. The pre-ICO has been completed, and the ICO is still going on until the middle of August.
MediChain is a distributed ledger for patient’s medical data. It allows patients to store their own data in a secure way and gives access to specialists anywhere regardless of the payer network or EMR (Electronic Medical Record) used.
SimplyVitalHealth is a blockchain EHR system to help medical provider track patients through their entire post acute care journey. SimplyVital Health’s ICO is completed, but no official data about the amount raised is available yet.
Medicalchain is a platform for secure storage and utilization of electronic health records on the blockchain. They are creating a telemedicine platform, providing users a secure online channel to connect with healthcare professionals, share their records and get consultations. Medicalchain’s ICO is already completed and a total sum of US$ 24 million has been raised.
Patientory is a single platform to store and manage health information. Patientory is able to connect with EHR systems, so that patients, clinicians and organizations can access, store and share health information. Patientory’s ICO has been running throughout May of 2018, and a total sum of US$ 10 million has been raised during their ICO sale.
NWPSolution is health data marketplace to aggregate personal generated data e.g. by smart devices , analyse them by A.I technology and share with medical provider.
AMCHART is a patient driven EHR to store medical records. The token is used to reward sharing data e.g. for research purposes.
Grapevine World will make it possible to exchange data between various stakeholders in health. Patients can access their clinical health and fitness data and agree upon anonymized data being used for certain researches. As a reward, they receive Grapevine tokens. These tokens can be used for medical services and products. Grapevine’s ICO is ongoing until the middle of August 2018.
Helix3 integrates with smart devices to track health data, share them with others and get rewards for health activities tracked by the smart devices.
Using the IRIS EHR system, users can store their medical records in exchange for tokens and sell it on the IRIS data marketplace. The ICO of IRIS is currently running, the entire July 2018.
MediBloc is a decentralized healthcare information platform for patients, healthcare providers and data researchers. It gives patients easier access to health data and enables them to sell their data to researchers. A total amount of 30 million $ has been raised during their 3-week-ICO at the end of 2017.
NAM is building an EHR on the blockchain and uses A.I. services on top for consulting, diseases prediction and healthy food recommended.
6. Marketplace (medical provider)
The Health FX platform is a global network of healthcare professionals that are matched using AI technology. Besides of the matching, the platform handles the booking process, payments, reviews and insurance claims. The official start date of Health FX’s ICO is the 8th of September 2018.
Potion Owl is a P2P healthcare service platform that allows patients, as well as healthcare providers, to access medical services. Potion Owl has been found in the 4th quarter of 2017, and their ICO just closed now, beginning in July 2018.
MEDICOHEALTH allows anonymous, safe and efficient communication with physicians. The data of patients can be stored and accessed by selected physicians for a specific amount of time. The platform contains reviews of doctors and patients making treatment and personal medical data available worldwide. Medicohealth’s ICO is still ongoing, but a total sum of US$ 581 million has been raised so far.
Etheal is using AI for patients worldwide to identify the best medical treatment. Using this data, patients are able to book specialists and treatment methods. The pre-ICO of Etheal is still ongoing until the 23rd of July 2018.
NurseToken enables hospitals to fill positions on-demand, and offers more universalized payments to nurses worldwide, by providing a decentralized credential and payment system. NurseToken’s ICO will start on the 1st of August 2018.
WELL, founded in 2015, has developed a blockchain protocol that connects healthcare specialists to patients around the globe. During the Initial Coin Offering (ICO) from May 16th to June 30th 2018 WELL has raised a total sum of US$ 3 million.
TrustedHealth is a platform for second doctor opinions on the blockchain that focuses on life-threatening diseases to identify the best methodologies. Trust TrustedHealth stores data, provides telemedicine services and connects healthcare experts around the world. The company was founded in June 2016 and the ICO took place from the 27th of March to the 27th of April 2018.
7. Marketplace (services)
Cosmecoin is a decentralised marketplace that connects aesthetic surgery practitioners and patients. There is no number available about the total sum raised yet, as Cosmecoins ICO is still ongoing till November 2018.
8. Marketplace (goods)
Synthium Health is a medical product marketplace that brings together healthcare providers and suppliers for efficient and cost-effective exchanges. The ICO of Synthium has been closed at the end of February 2018, but no information about the total sum raised has been announced yet.
9. Marketplace (data)
Humanscape is developing an application that uses personal health information with the goal to make unconquered diseases curable. Given the permission of patients, health data can be entered and used for researches and studies. Also, the application will contain communities that focus on certain diseases. Humanscape states that the 2nd pre-sale has successfully ended.
EpigenCare develops personalized skincare by matching products with epi-genetic data. Cosmetic brands could use the epi-genetic data to recommend their products to the specific customers and customers earn token. EpigenCare’s ICO is still ongoing until the end of July 2018.
10. (Incentivized) prevention
Bowhead Health is developing hardware devices to monitor the health of individuals. Bowhead has already developed a mobile health tracker app, and will as well unfold a test cartridge, a test reader and a dispensing device and as vegan spherical gels and a mobile app to track people’s health. Individuals have access to that data and to the Bowhead network of healthcare professionals. The Bowhead devices will be able to dispense personalized medication and nutritional supplements based on customer needs. Bowhead’s ICO begins at the end of July 2018.
MintHealth is an international blockchain health platform that uses tokens to incentive patients to follow a healthy lifestyle in order to prevent chronic diseases. The company was founded in the first quarter of 2018 and the ICO of Minthealth took place from the 20th of April to the 18th of July 2018.
Boltt Coin is a social health gamification platform, which rewards people with BolttCoins for taking steps and achieving their health targets. The ICO of the Bolttcoin will start in August 2018 and will be ongoing for one month.
BEAT stores health and fitness data of individuals safely and allows sharing it with doctors, sport sponsors and insurance companies to get help or rewards. There is no official data about the total amount raised during BEAT’s ICO, because their ICO is still ongoing until the middle of July 2018.
Clinicoin is a wellness platform that rewards cryptocurrency users for engaging in health activities. Clinicoin is developed to connect people, developers, and healthcare providers, worldwide. Clinicoin’s ICO has now ended at the beginning of July 2018, after running for several months.
Zealeum connects personal health wallets to apps and wearables. Users are receiving tokens as rewards, when achieving specific health goals, for purchases or sharing of their data. Moreover Zealeum allows payments and data storage on its platform. Zealeum has completed the pre-sale and the date for the ICO will be announced in the close future.
Safeguard is developing an AI-based protocol to predict and prevent workplace accidents. Users can access the platform through Safeguard tokens, which can be purchased with NEO. The ICO of the Safeguard Protocol has started at the beginning of June 2018 and is ongoing until the end of July 2018.
Curaizon helps patients to take their medications correctly with notifications, reminders and an integration into the existing systems. The ICO of Curaizon officially started at the beginning of June and closed at the beginning of July 2018.
11. Supply chain
MediLedger ist developing a platform that is capable to solve challenges in the pharma supply chain as well as structuring processes in it in a more efficient and cost-lowering manner.
The tracking system of FarmaTrust aims to eliminate counterfeit and wasted drugs to create safety for pharmaceutical companies, governments, regulators and the public. The ICO has started in the middle of June 2018 and is still ongoing.
BlockRx is developing a platform to facilitate the communication between pharma, medical device manufactures and healthcare providers in order to improve medical the medical supply chain. BlockRx’s ICO ended at the end of January 2018 and their system is online now.
MyFy is building a healthcare platform that, among others, uses AI for health diagnosis and the connection of patients, doctors, pharmacists and many more healthcare players. The platform focuses on India. Targeting the telemedicine and diagnostic Indian market, MyFy is aiming to reach the rural and semi urban population.
DocCoin enables patients to receive counseling, referrals for tests, prescriptions for medicines, and diagnoses from doctors from all over the world, storing medical records on a cloud service and access to their doc in pocket application. With the ICO from March 19th to March 11th 2018 DocCoin has raised a sum of US$ 2.3 million.
MedCredits is a decentralized telemedicine platform that provides efficient healthcare. The software “Hippocrates” is an app that connects patients to dermatologists for fast diagnoses at a fraction of the cost. During the Initial Coin Offering Phase from March 1st to April 30th 2018 MedCredits has raised a sum of US$ 2.5 million.
Doctor Smart is a blockchain platform for online, real-time health and wellness advice. Doctor Smart offers 24/7 access to physicians, pediatricians, fitness and nutrition experts, and even veterinary specialists. Virtual visits cost less than in-office visits. The ICO took place from the 16th of May 2018 to the 30th of July.
Robomed Network develops monitoring tools and wearables for diagnosis as well as a telemedicine platform for patients in case of needing a medical consultation. The Robomed Network is a smart contract between healthcare providers and patients.
doc.ai is a platform that enables the collection and management of a large scale of health data to get predictive insights by A.I. and accelerate research. Users can share, sell, or donate personal health data and they can earn a financial compensation for their data being used in trials.