Farasha - The blockchain technology at the service of cardiovascular monitoring and prevention
Incorporating the most recent technologies, this start-up builds a new business model that will surely make progress on the way we monitor, survey and prevent cardiovascular diseases.
Headquartered in France and the US, Farasha is designing next generation cardiovascular prevention services at a global scale. With a portfolio of services hosted in the blockchain, the team has managed to integrate artificial intelligence powered solutions and cryptocurrency cost-efficient payment methods. Yet in the development phase, the business plan proves to be solid due to previous milestones and current development pace. But how does it work?
Artificial Intelligence & Machine Learning
By 2012, Farasha team designed the first watch to measure blood pressure shifting from the traditional inflating-cuff method to a combination of sensors and a new software. This device, together with a recently developed smart glove, are the sources that fuel the company’s machine learning solutions with data. Information is analysed by in-house developed algorithms and using artificial intelligence, the system can predict the evolution of cardiovascular pathologies or advice a teleconsultation with a specialist.
And the Blockchain?
The entire solution offered by Farasha is hosted in the Blockchain. Why? Because security of the information (i.e. electrocardiograms), time-efficiency and lower costs are of the essence. Data in the blockchain is encrypted and hashed and Farasha wanted to guarantee safe and reliable transfer of information between patients and health providers. Being the user sovereign of its data in a decentralised environment, the start-up also reduced the liability of having users data in the first place.
Time-efficiency was also critical. Blockchain will speed pre-authorization and enable timely treatment of dossiers as well as accurate payment to the provider. The goal will be real-time determination of benefits, with the blockchain ledger shared among the stakeholders.
Finally, the third reason to rely on the blockchain is the FLB coin: a cryptocurrency created by Farasha as the only payment method accepted to use its services. This peer-to-peer version of electronic cash accelerates transaction settlements (national & international) and lowers its costs due to the absence of third parties or exchange rates.
The limited issuance of the FLB coins will help monitor its market value and will draw the attention of investors to diversify their portfolio.
A work in progress
With a detailed roadmap to guide its way, Farasha is bringing cardiovascular prevention to the verge of a new era. Patients will enjoy fast & easy access to medical practitioners around the world, remote monitoring and advance data analysis. Health providers on the other side, will benefit from reduced billing times, broader base of patients and time-efficient consultations. All that secured and dynamised by the Blockchain.
Throughout 2019, we all will witness the deployment of Farasha new business model.