How digital health companies are using cryptocurrency and blockchain-based technologies to inspire people
The healthcare sector boasts one of the maximum energetic and fast-converting landscapes as far as innovations; it’s far incredibly inundated with data, but a good deal of it isn’t always effective to be had for studies purposes. That has been a primary setback in terms of implementing device learning and other AI-based tools in the field. Scientists, doctors, and engineers require robust, to be had data to educate their fashions and deduce precious conclusions that would change the world. To positively transform our healthcare system, we have to commit interest to influence patients to share information associated with them. Detailed and unabridged health records can liberate development amongst all components of patient health, consisting of education, equity, efficiency, communication, patient-centeredness, and safety. Recently, digital health companies have started to tap into blockchain-backed cryptocurrency as a manner to inspire customers to exercise, take medication and live sober. Most of the currencies may be cashed in for items like workout gear, or a paid service the platform gives like coaching. Other agencies also use digital currency as an incentive for patients to launch private data. In this article, we can study how digital health companies are using cryptocurrency and blockchain-based technologies to inspire people to burn calories and additionally share their clinical data. This listing ought to move on and on as there are numerous other digital health companies available adopting similar practices.
It uses blockchain technology to assist patients to preserve track of their medical data throughout companies. However, customers also can earn cryptocurrency incentives, known as Onco, in a health savings account-like wallet. The platform additionally allows smart contracts among payers-providers, payers-patients, and payer-pharmaceuticals. Patients are capable of earning monetary rewards for adhering to their remedy regime, in addition to providing content and data. But it’s not simply patients who can get the currency — providers can acquire Oncor by posting content material that is then reviewed and rated.
HealthWizz helps customers in sharing their health records with pharma businesses and researchers. In exchange, they earn electronic currency. The employer developed a mobile-based app (available on Android and iOS) that facilitates patients to organize their medical records, stable their data, and distribute it to relevant organizations. Users aggregate their data from more than one source, which includes laboratory results, wearable technologies, genetic data, and EHRs. They can take part in different trials and earn OmCoins (OMC) as incentives. coins, in turn, may be used as a charge for rather personalized pharmaceutical medicines, medical services, or gym memberships.
Charity Miles is a little different from each different platform in this list. With no online store, each cent you figure from on foot goes directly to a charity organization of your choice. All you need to do is download the application, pick out one of the 42 groups you wish to earn cash for, and begin walking. The app will degree your distance covered and donate cash accordingly. At the time of writing this article, an amazing 2.5 million dollars were donated through the app.
The Runtopia platform specializes in enhancing health while presenting incentives for doing so. It allows you to set exercising dreams for cycling, walking and running, and an audio instruction that motivates you all through your workout session. The Runtopia app (to be had on iOS and Android platforms) comes with training programs that assist you to heat up and stretch. Although unlocking a number of the features are subscription-based, many are presented for loss. Runtopia rewards customers with sports coins that may be redeemed for PayPal cash, coupons, free memberships, or products.
It is a platform that’s first-class known for using blockchain to permit patients to access their health records, additionally has an incentive primarily based totally system. The platform allows patients to apply its virtual currency called “vitamins,” which will exist in the MintHealth ecosystem. Funded through healthcare payers, the tokens are given to patients who engage in healthy behaviors. The vitamins themselves may be redeemed for healthcare discounts and used as a charge for care-related expenses.
With over 40 million customers worldwide, Sweatcoin is one of the maximum downloaded health-based cryptocurrency praise application apps. It tracks outdoor sports like steps taken or energy burned and converts those statistics into cryptocurrencies. The app achieves this by using the GPS locator and accelerometers in the user’s phone. Sweatcoins may be exchanged for many items and services, including high-tech shoes, yoga classes, and Apple watches. The platform additionally permits customers to donate their mined cash to charities of their choice. Sweatcoin became mentioned by the British Journal of Medicine in 2018, and here’s a video evaluating how Sweatcoin works.
Lympo is a fitness-based platform that rewards customers based on their healthful behaviors. It does this thru its cryptocurrency referred to as the LYM token. It is a Lithuanian startup that has its personal Lympo platform, in which the tokens may be exchanged as fees for items and services. The LYM tokens also can be applied to Lympo crowdfunding structures that are specifically engaged with data-driven companies. Interestingly, the previous Estonian Prime Minister, TaaviRoivas, is the chairman of the company’s board. The Lympo app is to be had for Android and iOS devices, and at the time of the writing of this article, there are over 1.2 million Lympo users scattered all over the world.
This is one of the best digital health companies that assist customers in mining cryptocurrency and tokens with their bodies. It employs the usage of wearables that track estimated calories burned and heart rate. The higher you do, the extra you mine for GYM currency. The tokens are despatched to a user’s EOS wallet and traded at participating exchangers. The app is to be had at the iOS keep with plans ranging from a starter, silver gold, and platinum packages. The starter plan is free, while customers should be in order to experience an upgraded version.
Lets customers collect tokens as an incentive for their interest and health reward system, and for taking part in studies. Participants are capable of exchanging their Clinicoin tokens for objects in the platform’s health marketplace. The app additionally lets customers set their desires and track their fitness. “So a few of the answers we offer are around behavioral changes, and the psychology around cryptocurrencies is around gamification.
This digital health company compensates patients who share their medical histories and facts with researchers. Embleema tokens are their method of payment. The platform’s PatientTruth allows customers to share facts with healthcare providers and researchers alike.