WELL Blockchain as a Healthcare Solution
WELL – According to the white paper “Blockchain: The Chain of Trust and its potential to transform healthcare” written by the IBM Global Business Global Public sector group on August 8, 2016, one of the top three use cases in the blockchain.
In the health field, it is used to pre-authorize payment infrastructure.
We created WELL tokens to address the world’s biggest health issues around cross-border payments, data access, and payment risks. We serve anyone anywhere for a high-quality medical service provider.
Due to the geographic distance of the patient’s home, access to quality medical services is very expensive or impossible. The high price of medical services is the result of unnecessary bureaucracy and inefficiency of insurance companies and medical systems. Senior medical professionals may be located outside the patient’s city, and may even be located outside the country of origin in many parts of the world.
WELL provides customers with additional value by using different mechanisms. First, they can use 24-hour medical services for 365 days a year. The WELL service is international and due to its network of doctors and global experts, many of which are multilingual. In this way, patients can use their mother tongue to get medical support wherever they are in the world.
WELL’s low-cost business model can lower prices by about 30%. This means that WELL patients can receive advice from prominent medical experts, much lower than the price of personal visits.
How it Works
The current platform allows people to conduct video conferences with doctors. It is possible for a doctor to help with this online service. Then record the results of the meeting and allow customers and practitioners to obtain a patient’s medical history. This platform follows the HL7 / FHIR medical records standard.
Employees can generate recipes, issue notes, and work with different laboratories.
The company did not provide technical details in their 45-page white paper. We were wondering if they would eventually publish a technical white paper for review. Now we only know that they may use an ERC20 token that they expect to trade on the exchange.
The white paper also claims that the platform will maintain “one-to-one mapping and health-care law binding.” We do not know or understand how this is implemented, let alone commitment or confirmation. For more details on the “critics” section of this blog.
WELL built using standard ERC20 tokens. The purpose of the token is to be able to transfer funds between patients and doctors, and it can also host these funds. Successful access (for example) will release this fund.
The team generates money from the following services:
- Transactions: They charge a fee for each transaction
- Additional services: they provide translation, pharmacy orders, training, etc. But it needs to be billed
- Remote patient monitoring: They can manage iPad and other infrastructure in the hospital
- Web access: They charge a caregiver and hospital to join the network
They will make tokens worth about $ 1.5 billion (worth $ 150 million). 40% will be spent on crowdsourcing, they will keep the team 20% (why so much?), And release the last 40% at a rate of 10% per year for the last four years.
WELL token function:
– WELL TOKEN as a payment method.
– WELL tokens as a means of transferring money from one currency to another.
– WELL TOKEN as a means of health gamification – WELL Platform will reward WELL tokens for satisfying results.
– Social and gaming features. We may also say that WELL is an “in-game” token for WELL networks and participants in a WELL ecosystem are rewarded for taking certain actions. In addition, tokens can be used to pay for an unlock specific network resources, such as patient health resources, physician clinical education sources, and analytics and data resources for customers and partners.
– Encourage and reward. WELL patients, doctors, and other users receive WELL awards for timely appointments, reducing costs associated with maturity.
– Partner access – WELL ownership can access advanced platform features.
– Share data. Whenever WELL accepts payments for unknown and anonymous patient and doctor data, the patient and the physician in question will receive a WELL tokens present.
– Get debt to customers to identify health history – Insurance companies and other businesses will pay access to WELL tokens to identify WELL health data.
- Token: WELL
- Platform: Ethereum
- Price in ICO: 1 WELL = 0.1 USD
- Jan 1 – Jan 31 40%
- Feb 1 – Feb 24 30%
- Feb 25 – Mar 11 25%
- Mar 12 – Mar 26 20%
- Mar 27 – Apr 10 15%
- Apr 11 – Apr 25 10%
- Apr 26 – May 2 5%
- May 3 – May 15 0%
- Tokens for sale: 600,000,000
- Accepting: BTC, BTH, ETH, LTC, Fiat
- Soft cap: 3,000,000 USD
- Hard cap: 28,000,000 USD
WELL’s CEO is Ildar Fazulyanov, born in Russia and studying chemical engineering at Bowman University in Moscow. He then studied for an MBA at Tucker Business School (New Hampshire, USA). The white paper also mentions experience in healthcare, accounting, and business development.
Co-founder Alex Prokhorov is one of the national alumni, BYU, and Fintech of Russia. He worked as a financial advisor to Ernst & Young in New York and quickly became an investor. That is, this information comes from their white paper. There is a link in the white paper that deals with his biography. This link is anonymous and there is no additional information.
Other members of the team include:
- Dr. Matthew Lefferman — Clinical Director (Only Medical Doctor in the team)
- Dmitry Semenov — Development Team Lead (Worked at Qvolta)
- Josh Fonger — Process Architect
- Yetkin Timocin — Developer
- Dr. Istvan Csatari — Designer
- Q1 2015
Ildar, Founder, re-breaks his leg, WELL platform software design begins
- Q2 2015
Well, Inc. is incorporated in Delaware
WELL platform is launched first customers and revenue
The release of WELL platform on a limited trial
WELL receives Medicare License
WELL trademark is approved by United States Patent and Trademark Office
WELL successfully sells out $3 Million in Private Pre-sale
White List Sale
WELL telehealth platform release
- Q1-Q2 (FEB 25 – MAY 15)
WELL telehealth platform deployed with self-insured employers and clinics in the US
WELL blockchain is released for testing in sandbox and bug testing bounty campaign
Release WELL blockchain platform for medical tourism, second opinion, and charity
Partner with Government medical agency (example, Estonia’s healthcare system).
Launch of blockchain group buying plan. Work on WELL Health Savings Account in the US
WELL blockchain integrated with all major insurance providers in the US
Goal: 1 Million visits conducted on WELL blockchain per month
Continued worldwide integration with insurance and governmental healthcare systems
To know the latest information about Well project you can visit the link below:
WHITE PAPER: https://joinwell.io/docs/joinwell-whitepaper-en.pdf
MAIN THREAD: https://bitcointalk.org/index.php?topic=2567810
ETH : 0xf684c669653b6cd2b606ecdfc69b69dff7935b2c