What are the main projects, applications or companies using blockchain in the field of healthcare?
In the healthcare sector, the distributed ledger technology lends itself to many use cases, in particular for storing data and making them immutable.
A particularly interesting case is that of the Ministry of Health and Prevention of the United Arab Emirates (MoHAP), which has launched its own blockchain platform for the storage of health and pharmaceutical data, in collaboration with the Ministry of Presidential Affairs, Dubai Healthcare City and other health authorities.
The platform is based on a distributed ledger and aims to improve the efficiency of the MoHAP itself and the services of health authorities in the country. It also integrates artificial intelligence, as foreseen by the AI strategy of the United Arab Emirates.
In particular, it will help to simplify the research of health facilities and their medical and technical personnel. It will also provide information on drugs, such as manufacturer, the active ingredient, price, approved agent and method of use, and will help facilitate the work of health inspectors.
Finally, the initiative also aims to encourage so-called medical tourism in the country, focusing on the quality of healthcare in the country.
However, this project is not yet operational, although the fact that it is promoted directly by the Ministry of Health of the UAE makes it one of the world’s leading projects in the sector.
Another project that had garnered some notoriety was Medicalchain, which started with an ICO that raised more than $20 million in 2018.
The underlying idea is to securely store and share health data in electronic format and allows authorized users, such as doctors and pharmacists, to access patients’ health records by logging each transaction on the distributed ledger.
Its token, however, has lost much of its value compared to the initial price, going from $0.38 to the current $0.004, with a total market cap currently just over $1 million.
Another project that had gained some notoriety was Dentacoin, whose goal is to create a token to put together a network that connects dentists and patients.
In addition, the project seeks to make payments more secure and certain, while minimizing costs for professionals, as well as providing insurance services.
The network has already more than 40,000 users, but the token has now lost much of its initial value, going from about 0.4 thousandths of a dollar to the current 0.032 thousandths, with just over 14 million dollars of market cap.
Currently, the blockchain-based healthcare project whose token is performing best is Solve.Care, launched in 2018 with the goal of decentralizing healthcare administration, facilitating access to treatment, making payments in the sector more efficient, and reducing costs.
The value of the token has remained more or less constant over the last 12 months, and today among all healthcare tokens is the one with the highest market capitalization (about $46 million).
Worth mentioning is also MediBloc, a health information platform that allows patients to hold ownership of their medical records and share them with healthcare professionals and researchers.
The value of the token has fallen sharply since it was placed on the market in early 2018, from $0.025 to the current $0.0048, but it has maintained a market capitalization of around $11 million.
Another token in healthcare that has a similar market capitalization is Aencoin, which unlike the others is growing.
Aenco is a healthcare financial solutions platform, established in 2018 and powered by its own blockchain, it enables healthcare companies to provide a wide range of applications with real-life impact.
The token has grown from $0.024 to $0.035 in recent months, with market capitalization rising to just over $9 million.