Time to turn your health records into digital assets
The Health Data Marketplace
Regulatory, scientific, technological and digital pieces now exist to assemble the whole picture of an individual’s health. Advances like electronic health records (EHR), wearable devices, and low-cost, high throughput DNA sequencing mean that we can digitally record every episode of our clinical care, and combined with genetic information and snapshots of our daily lives, these digital records are invaluable for biomedical and clinical research. Can these health records be treated as digital assets that can be referenced for medical care, or shared or traded for purposes of medical research in a health data marketplace?
An open health data marketplace requires a network effect. Every exchange of health data requires a sender and a recipient who are both willing to use the new system. As more consumers enter this marketplace with their health data, this data becomes more valuable for pharmaceutical companies and medical research organizations, especially if this data includes one’s clinical, genomic, wearable and environmental data. After all, you are in the best position to aggregate and organize your health records from different sources, keep it under your control, and securely share it with whom you choose. This is why we want to start with you — a community of stakeholders in this new health data market place.
To give the power back to you, the patient/consumer, Health Wizz recently announced a digital token called OmCoin.
The Health Wizz app makes it easy for players in the new digital healthcare space to track and manage their physical and mental wellbeing using personalized health indicators. We added gamification to wellness and personal health in a social context, and believe this will not only raise the consumer’s awareness of digital currency, but will also attract the critical mass of users to create the network effect. Consumers will participate in health-related challenges and games with friends and family members, co-workers and peers, and members of their social networks. Prizes and awards will be in the form of digital currency — OmCoins — sponsored by institutions, employers, or even by individuals themselves. User adoption and engagement can be encouraged by bringing video game-like thrills and engagement to health-related games and challenges. Incentives in the form of OmCoin tokens will keep users engaged and coming back for more, all while improving their health. This will allow more people to become familiar with, and own, digital currency, even non-technical people.
OmCoin will accelerate the world’s shift to a health data market place, accelerate the pace of advances in the field of medicine, create economic incentives for billions of people to share their health records, and raise the quality of health care worldwide.
Institutions can sponsor games and challenges as part of their marketing and branding activities offering OmCoins that they own. Institutions can also use OmCoins to purchase clinical and genetic data directly from individual Health Wizz users. The growing base of engaged users will encourage larger employers and institutions to enter the market, thus completing the virtuous cycle.
By lowering the barrier to creating new health-related smart contracts on Ethereum blockchain, we will see an explosion in the number of new ideas and applications, leading us to invest in, partner with, and build new applications in the healthcare space. We intend to create a mass market consumer interface for people to see value from their health and health related data. We expect that a critical mass of early users will be drawn in by gamification and trading of health records. We believe the industry is poised to explode as it becomes dramatically easier for consumers to monetize their health records and for developers to build applications that utilize the health data network.
Worldwide Application
With easy to use methods of polling and querying the user base, we anticipate a drastic increase in institutional buyers of data and organizations conducting clinical studies as it will be significantly easier to enroll and engage with participants quickly and efficiently. The ability to trade health records gives the opportunity to monetize health data to every individual on the planet. Even people in developing countries can adopt the Health Wizz application as it lets them participate in clinical trials and trade medical records for OmCoins from the convenience of their Health Wizz wallet on their smart phones. Pharmaceutical companies and research organizations will be able to use OmCoins to pay individuals for their medical records. Conversely, users will be able to pay pharmaceutical companies with digital currency in return for highly personalized medicine. More liquidity of a health-related digital currency such as OmCoin will increase its adoption and reduce its volatility, which is important for enabling the health data market place.
We envision a world where every human being on the planet is carrying a complete picture of their health wherever they are. In our vision of tomorrow, everyone is carrying their digital quantified self on their smart phones.
How to Participate in The Ecosystem: Digital Token Pre-sale
To support the further development of the platform and the virtual health data marketplace, Health Wizz recently announced the pre-sale of a right to receive its digital token, OmCoin. The pre-sale will run November 30, 2017 until February 2018.
Investors who take advantage of the pre-sale of OmCoin will be issued Simple Agreements for Future Tokens (“SAFTs”), which represent a right to receive OmCoin upon the formal launch of the mobile platform in March 2018. The solicitation, offer, and sale of SAFTs will be conducted in a manner that is compliant with applicable securities laws and regulations. Only verified accredited investors will be eligible to purchase SAFTs.
Health Wizz plans to use the funds raised from the sale of SAFTs to further build out the mobile platform and develop an ecosystem around OmCoin. Funds will also be used to establish a virtual marketplace where people can exchange and trade their data securely, if they choose to.
Accredited investors who are interested in joining the Health Wizz OmCoin pre-sale should register at www.healthwizz.io or send an email indicating their interest to presale@healthwizz.io.
To become part of the Health Wizz community, please visit www.healthwizz.com
