Jay is speaking at the BlockchainNW Summit and we asked him for a quick Q&A to talk about Clinicoin, blockchain’s opportunity in healthcare, and what he dislikes the most about crypto.
Jay, thank you so much for being here with us today, we’ll jump right in. Where did you get the idea for Clinicoin?
In early 2017, many of the conversations I was having about blockchain technology felt eerily familiar, very similar to the requests we were getting from our clients about new features they needed. Noel Chandler (my Co-Founder and Mosio’s CEO) and I talked a lot about blockchain and the crypto space. We were both intrigued by what we could do with this technology. These conversations reminded me so much of how I felt when we started Mosio, 10 years prior. As we dove deeper and deeper into how we wanted to apply blockchain tech to our platform, we realized we would solve a lot of problems our clients were having at the same time. So we focused on what would a stand-alone platform look like, and Clinicoin was born.
To familiarize any readers who don’t know, can you give us an overview of what the project is all about?
Clinicoin is an open source messenger, secured with end-to-end encryption, and designed to support the health and wellness of the end user.
What this means in real life: it’s a way to communicate with the people who keep you healthy. They are your doctors and nurses, and also your friends, family, and community. They’re there to support your physical and mental health. They’re there to encourage you, provide information, pick you up when you fall, and celebrate your accomplishments. You can think of it as a wellness tribe.
What makes you most excited about the Clinicoin project? Where do you see the biggest opportunity?
I’m most excited about revamping the way we communicate with our doctors and providers. I spend more time speaking to tech support about the health of my computer or software I use than I do with my doctors talking about the health of my body. This seems crazy, but on the other hand, tech support is available any way you want it, and my doctor won’t send a text. This is an industry that is way behind the times. I think by building out Clinicoin as a messaging platform focused on health and wellness, starting with patients as the central point, then building out their networks via the people they trust, we can really push the healthcare industry to adopt a modern platform.
What do you dislike the most about crypto?
Blockchain and crypto technologies are still young, so in order to use them, end-users are forced to manage their own infrastructure. I know there’s an idealism that wants users to control their own destiny, data, and security, but users are notoriously bad at understanding security implications. Do you really think 7 billion people will be able to write down their private key or mnemonic and truly keep it safe? It’s not going to happen. We’ll get there, but it’ll require the first layer of apps to be widely adopted.
That’s a great point. There needs to be a happy medium, you can’t reach the mainstream with everyone being a hardcore enthusiast. That’s not how mass adoption works.
Exactly. Another thing I won’t say that I don’t necessarily dislike, but sort of baffles me repeatedly, is the lack of patience among some in the crypto community. I understand the excitement, I’m excited as well, but this is all going to happen when it happens. I’ve learned, especially working in the healthcare and clinical research industries, that regardless of how enthusiastic you are about a new technology, the industry adopts when it is ready. By nature, industries don’t necessarily want to change, but they will when their customers require it. We are very early with this opportunity, we’re lucky to have found our place here. Patience is definitely a virtue while we wait for the world to catch up.
I couldn’t agree more! What do you see as the biggest opportunity in healthcare regarding blockchain/cryptocurrencies?
There are so many opportunities. Of course, as a cryptocurrency it’s a perfect way to distribute incentives to patients for healthy behaviors (as some health insurance companies are already doing). In the Clinical Trials industry there’s an opportunity to simplify international payments to the myriad of vendors required to support geographically diverse studies. Most of all though, I think the opportunity lies in properly connecting individuals to the doctors, therapists, trainers, and friends who will keep them healthy. Healthcare is about the patient, after all.
Indeed it is, the patient is the most important part in all of this. Jay, thanks so much for your time today and best of luck at the summit.
My pleasure.
