/ ICO analysis

Nano Healthcare Token (NHCT) ICO REVIEW — Providing Data Driven Preventive Health Care By Leveraging Blockchain Technology

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Nano Health Care Token (NHCT) is creating an advanced healthcare ecosystem capitalizing on innovative data sourcing methods by integrating their existing model with the blockchain technology. The project already has a functional model operating for last 3 years with over 75,000 subscribers. The NHCT ICO is aimed at developing a healthcare model which not only provides for optimum health care to the public at large but it also helps the major stakeholders in the healthcare industry including medical practitioners, insurance providers, and more. The fact that healthcare is one of the fastest growing and an evergreen sector makes NHCT ICO even more interesting. Moreover, back in 2014 Nano raised $1 million winning the prestigious HULT Prize and the Clinton Global Initiative recognition for the best solution to tackle Non-Communicable Diseases (NCDs). In this Nano Healthcare Token (NHCT) Ico review we explore how NANO healthcare will revolutionize the healthcare data storage and use, how impactful the project is, what they have been up to and what they are trying to achieve further with the integration of the revolutionary blockchain technology with their model, and analyse their ICO which is truly tempting for all good reasons.

Explaining NANO’s Idea And Approach

One of the most pertinent problems with present-day Healthcare systems is that it’s not oriented or designed to prevent a health problem; it is cure-driven. The NHCT white paper explains it as “Instead of providing lasting health solutions, current health systems are reactive; the cure is based on symptoms rather than providing preventive care.” This is one of the basic problems and we all can resonate with the idea to create a system that provides preventive care and thus significantly mitigates health risks in the process. Moreover, preventive care is not only more economically beneficial but it also makes the process of treating diseases more accurate and easier. However, giving shape to this novel idea has its own challenges like the health data of individuals is fragmented and not easily accessible, issues like security and privacy of data, transactional costs and complex billing system including processing of insurance claims and more. Addressing these issues and sticking to the core idea of preventive healthcare NHCT has developed a user-friendly ecosystem that allows for more secure and classified storage of medical data, quickens the insurance claim processing, simplifies the transactions, cuts down on unnecessary operational costs, and most importantly makes the diagnosis of diseases easier and more accurate.

NANO’s Innovative Model — Simplifying Healthcare Management

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NANO Healthcare has been delivering personalized health management solution with their health coaches who are registered, medical practitioners. They provide users with their health assessment reports which helps them get appropriate care and formulate an effective plan for themselves. Further, the Nano Healthcare innovative App has an in-built recommendation engine which analyses different outcomes and proactively suggests specific activities based on risk factors. Explaining the functions of the NANO App, NHCT CTO, Nagarjuna Vangala says — “We have proven AI-powered algorithms for conditions including hypertension, diabetes, and cholesterol. The recommendations offered by the app connect health and wellness providers contextually to users. Based on patient parameters (vitals) and target parameters, the system recommends the next best actions across diet, exercise, medicine, and check-ups.”

Testing their model NANO has been catering to over 75,000 subscribers and have also partnered with the government of Indian state of Telangana to track and measure the health of people in the rural areas of the state. Also, they have a unique corporate health tracker for large organizations helping them with their employees’ health assessment and providing them with personalized Health and Wellness services and continuous health monitoring.

Integrating Blockchain Technology

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Nano Healthcare is integrating its current model with the blockchain technology for advanced data security and decentralized storage; not to mention that medical data is crucial as just in the Q1 2018 1.1 million patient records were compromised in 110 healthcare breaches. Integrating blockchain technology NHCT will have a robust preventive healthcare model that ensures seamless exchange of data with distributed ledgers, allows incentive based engagement using tokens to generate high quality medical and wellness data points and makes it easy to integrate applications and tools using smart contracts.

NHCT Ecosystem: Bringing Medical Practitioners, Patients, Insurance Companies And Other Stakeholders Together

The NHCT App acts as a platform that will foster meaningful engagement between all the stakeholders involved in the caregiving process. “The system will allow for peer to peer messaging between users, direct and instant communication between patients and providers on a one-to-one basis, access to support groups and clinicians, and allows patients to have access to their own health data without the fear of dissemination to unknown third-parties. Further, users earn tokens for engaging in any number of activities that promote and support the users’ health.” Moreover, the NHCT ecosystem is based on two layers of blockchain — based platform: a hyper ledger for managing and storing the confidential healthcare data and the ERC20 NHCT token that will facilitate the engagement between the members/users in the ecosystem.

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Furthermore, the NHCT ecosystem has prominent use cases as it makes insurance claim processing quicker and also subsequently reduces the number of claims and provides companies with crucial data to help them formulate personalized insurance plans catering to their specific target and classified markets. The data procured and the mechanism will also facilitate research and further developments. By removing the role of intermediaries and bringing medical service providers directly in contact with those in need the NHCT will significantly reduce the costs involved in Medical Tourism and make it easy.

NHCT TOKENS: A Three-Tier Token Model For “ Proof Of Total Health”

The NHCT ecosystem will be powered by three tokens viz, Wawa, Warma and the premium NHCT tokens. The Wawa tokens can be earned depending upon the calories burnt and the payout rate of Wawa will be customized for every individual based on their health condition. The Warma tokens work as the Wawa tokens but with a difference that users have to provide for social evidence for the activity they participated in to achieve the calorie burn. The premium NHCT tokens will be used as the de facto currency within the ecosystem and they are fully transferable and exchangeable. These tokens will be listed with popular cryptocurrency exchanges. Moreover, to incentivize the preventive healthcare activities and encourage users to participate in those activities the Wawa and warm tokens earned on the platform can be redeemed for premium NHCT tokens. The users can spend their acquired NHCT tokens at any partner Health and Wellness Providers offering Hospital/Clinical Consultation, Medicine and Refills, Gyms and Fitness Spas and more within the ecosystem.

NHCT ICO Details

To develop the ecosystem NHCT is launching an ICO. They have successfully concluded their ICO private sale starting August 2018. The total number of NHCT tokens to be created is fixed at 1 Billion tokens. A total of 35% of the tokens created is made available for sale. The minimum funds to be raised ie the soft cap is fixed at $1,000,000 and the hard cap at $9,000,000. There is a KYC requirement to participate in the token sale and the whitelisting process starting 1st September will take place until the end of September 2018.

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NHCT is having a pre-sale and public sale of their premium tokens and the base price of the token is fixed at $0.032 USD.

The token sale timeline

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Nano Healthcare Token Team

NHCT team is a lot of experienced industry experts and professionals. Their CEO, Manish Ranjan, aspires to make Clinical advancements available, affordable and accessible to people from all walks of life, especially in the developing countries. He aims to use his consulting expertise in designing healthcare systems that reduce the socio-economic burden of chronic diseases. Nagarjuna Vnagala, member NHCT leaderboard is an experienced technology evangelist and blockchain advisor for healthcare, fintech among others. For over two decades, he has been at the core of technology management for product and project implementations. As a process Champion, he achieved ISO / SEI CMM assessments in record time. They also have a team of experienced advisors and established names in the industry like Adam C. Powell, Ph.D., the President of Payer+Provider Syndicate, a management advisory and operational consulting firm focused on the managed care and healthcare delivery industries.

Advantages

  • The NHCT project is more than an idea as they have already been operating for past three years and have a significant user base with their app witnessing over 75,000 users over the past 3 years.
  • Their model has proper use of blockchain technology as it will very likely to charge up their entire business model and also provide it an edge over the competition.
  • The healthcare market is huge and the preventive healthcare remains largely unexplored. Bringing in technology at this level in the healthcare sector can make NHCT a leading enterprise.
  • The social capital that this model would earn cannot be underestimated as it is actually helping both the medical practitioners and those seeking their services.
  • They have already got recognition with the prestigious HULTZ prize and have raised $1 million back in 2014.

Concerns

  • Reaching out to global markets the project will face tough challenges due to the stiff competition out there. However, the size of the market is growing and with a streamlined marketing and focussing on their core ideas of preventive health care NHCT can create a space for itself.
  • The NHCT project will have to focus on a sustainable user acquisition model, however, their incentivization of activities on the platform with tokenization can help them get much required and well-deserved traction.

Verdict

The healthcare industry is expanding consistently. Technology has always had an impact on redefining the processes involved in the healthcare industry. Also, medical data is paramount to the effective administration of healthcare services and underlying processes including insurance claim processing, early diagnosis etc. Bringing in blockchain technology to reshape these processes NHCT is making them more engaging and effective — and that is more than innovative. The NHCT has a unique model and given their proven and tested model with existing user base it has all the potentials to lead the future of the healthcare industry.

Get To know More about the NHCT ICO here: https://drive.google.com/file/d/1zlD7cfcg_0TJlTVjQiaQwXbDjHkrxwM-/view