Why does a healthcare company need its own token?

In the world of cryptocurrency, fortunes are made and lost in less time than it takes to finish reading this article, and there is no better example than Bitcoin, which has increased its value ten-fold in less than a year. This wild valuation is (among other reasons) why token sales have become an increasingly popular way for new companies and startups to grow since 2013, when Mastercoin launched its the first-ever token sale and raised 5000 Bitcoin worth about $500,000 at the time.

Those 5000 Bitcoin, worth about $500,000 when Mastercoin launched their token sale, are worth about $90 million today. Given those eye-popping numbers, it’s easy to see why token sales have become such a popular, and important, part of the cryptoverse.

That explosive growth and the relatively primitive landscape of the cryptoverse (it was only recently spun into existence by dissatisfaction with the status quo, the unbridled brilliance of a few razor-sharp minds, and curious nature of the human spirit) has also attracted bad actors with nefarious intentions. They have been hard at work making off with hundreds of millions of dollars worth of crypto through hacks and fraudulent token sales.

Despite the uncertainty that brings, there are more token sales than ever, and more cropping up every day. Everyone has a cool project with a great team and good ideas, and it’s becoming harder and harder to separate the wheat from the chaff.

So why would we, SimplyVital Health, which operates in the notoriously conservative and often lumbering healthcare industry, launch our own token sale?

The answer is to grow Health Nexus, our Ethereum-based blockchain protocol designed specifically for the healthcare industry. Health Nexus is a safe and secure medical data sharing system that allows providers to easily and quickly share vital medical records with each other and track a patient’s progress, even if the providers are using different record keeping software.

Imagine a world where your medical history follows you everywhere you go, whether it’s a different hospital or a different continent.

Imagine you have severe allergies to certain medications and are rendered unresponsive in an emergency. With Health Nexus, EMTs would know right away what medications you can or can’t have.

Imagine a college student studying abroad requiring emergency surgery. Health Nexus would allow surgeons quick access to critical data that could save that student’s life.

Health Nexus combines two really cool new ideas, blockchain & decentralized databases, then asks the boring grown-up question; why would the healthcare industry use it?

That question took us to the industrial landscape of today’s healthcare infrastructure and through the purchasing process they use. We’ve identified a list of things we need to change about decentralized tech (scale and security) to fit the healthcare industry and have a strategy to fully engage them where they are today, because that is how we will, collectively, get to tomorrow’s vision of unified records in the hands of patients.

As with all blockchains, on Health Nexus each “block” is created once over a finite period of time, limiting the transactions per block and making the computational power that processes those transactions a finite resource that needs distributing. Like Ethereum, we’re pricing that computational power using a cryptocurrency. People will compete for transaction space in a block by offering more or less cryptocurrency as transaction fees.

Just as Ethereum has ether, Health Nexus has the health cash (HLTH) token. Same, same. Every transaction on Health Nexus will require some health cash to complete. As adoption grows and the transaction volume increases, the computational power remains constant, but the transaction price increases.

And just like ether, health cash will be used to enter commercial agreements using smart contracts on Health Nexus. This creates an open source ecosystem where providers and developers can create applications, and patients can own their medical data, all powered by health cash.

Introducing a token also allows new revenue stream opportunities for digital health companies and providers. With Health Nexus, currently unaccessible opportunities become accessible: a marketplace to buy, sell, and share healthcare data; rewards for cleaning and standardizing data for aggregation; more efficient data and contracting processes, increasing existing bottom lines; the opportunities are boundless.

That’s the long, detailed answer. The shorter version is much simpler. We take improving healthcare seriously, and even though we are doing our best, we need your help.

We’re selling some health cash to help the growth of Health Nexus globally. We’re doing it in a way that distributes the token broadly to the whole community, instead of concentrating it in just a few hands. Better healthcare is in everyone’s interest; after all — we are all patients.

If you want to partner with us to help make Health Nexus please consider participating in our token sale here: https://tokensale.simplyvitalhealth.com/.

I skipped a bunch of techy and businessy stuff to keep this article simple, but they are not secret or anything so if you have questions please find me in our telegram channel (https://t.me/HealthNexus) and ask away!

About SimplyVital Health:
SimplyVital Health is making decentralized technology accessible to the healthcare industry by creating Health Nexus, a healthcare-grade blockchain and paired data storage. Their principal application, ConnectingCare, augments existing hospital care systems to extract data and create care pathway flexibility, prospectively track financials, maintain immutable records, and accurately monitor analytics.