The advent of blockchain technology and concomitant cryptocurrencies opened up several opportunities for disrupting many industries.
July 28, 2022
The advent of blockchain technology and concomitant cryptocurrencies opened up several opportunities for disrupting many industries. A permanent, immutable, and secure ledger, blockchain possesses the ability to store and share information safely. This immutable ledger has been integrated into some industries, the healthcare sector one such.
DeHealth, the international brand and a group of healthtech companies, is developing a special AI & Medical Data-Based Mobile App. DeHealth App is a decentralized application (dApp) that allows users to securely and autonomously store their medical data in one storage, share, manage and monetize it. To efficiently facilitate its core offerings, the DHLT token [DHLT] was put to use.
But before we talk about the DHLT token, let’s explain what tokens are. The four major types; utility, payment, security, and stablecoins. There also are DeFi tokens, NFTs, and asset-backed tokens. Of all cryptocurrencies, the most common are utility and payment tokens.
Utility tokens on one hand is a digital token of cryptocurrency that is issued in order to fund development of the cryptocurrency and that can be later used to purchase a good or service offered by the issuer of the cryptocurrency sold utility tokens as a method of fundraising for the start-up. In a way, the utilities offered can accelerate the token value over time.
DHLT is a standard BEP-20 token on the Binance Smart Chain [BSC]. With a circulating and total supply of 1 billion DHLT this token will power the DeHealth ecosystem.
Per the project white paper, DHLT token will serve two primary functions — payment for transactions and payment to access medical data.
Now, the transactional payment mentioned entails the cost to access medical data in the DeHealth ecosystem.
Let’s cite an example.
User’s medical data, comprising the date of treatment, drugs administered, name of medical practitioners, and entire recovery phase, is stored securely in the DHLT Network. Medical data details come from validated sources like doctors, lab technicians, clinic specialists, etc. After this patient’s data is gathered, divest of personal identity, it is processed and confirmed, while the data’s owner permits the possibility to share his depersonalised data, sent to the database.
When a client — probably someone who is currently suffering or treating a similar health condition, needs information about the condition or wishes to use the data for improved study — needs to access this data, they must have DHLT tokens to request access to the medical record stored in the DeHealth database. Each request sent to the database automatically takes off a few DHLT tokens from the buyer to the owner of the medical data.
Through the DHLT token, DeHealth hopes to incentivize and encourage users to keep storing well-researched, processed, and veritable medical data. Additionally, DeHealth will launch referral programs where users will receive rewards each time their referral links are used to purchase the DHLT token. Furthermore, DHLT allows the monetization of users’ medical data by selling it to healthcare providers, thereby motivating project participants and investors to lead a healthy lifestyle globally.
DHLT has another fascinating and rewarding utility.
As mentioned, DeHealth integrates the concept of rewards into the healthcare sector. One of the ways to own DHLT is by filling out a health card and “mining” the token. Unlike the traditional crypto mining activity, which involves the deployment of expensive hardware mining rigs. DHLT mining is utterly different.
To earn DHLT, users should regularly fill out a health card, or DeHealth ID. What is it? DeHealth ID is a unique user identifier, attached to the user and connected to the private key, and includes, among other things, the address of the user on the BSC network for full interaction with the DeHealth web 3.0 infrastructure. DeHealth ID is actually user’s International Medical Passport, which will act as a universal and safe place for personal medical data. Users have full control over their data and its privacy, which allows them to see which applications record their data to DeHealth ID and which applications request access to their data. The more applications request access to users’ data, the more DHLT tokens data holders receive. Thus encourage users to change from a carefree lifestyle to a healthier one by systematical interaction with dApp, not only accumulating and storing all medical data, but also monetizing it. Kind of “mining” in the DeHealth ecosystem.
Every user on the DeHealth ecosystem will have wallet integrations, thus facilitating and internalizing the data market monetization. And as mentioned, all transactions take place on the DHLT Network and are facilitated by DHLT.
The difference between ‘mining’ DHLT and other cryptocurrencies is staggering. As a counterweight to Bitcoin, for example, which assumes a PoW (proof-of-work) consensus mechanism where ‘miners’ solve complex algorithmic problems to verify transactions (using up vast amounts of electricity in the process), DHLT proposes a PoS (proof-of-stake) concept, which expect validators to lock up or ‘stake’ a certain number of coins, which are then used to validate transactions.
DHLT allows users to purchase medical goods — healthcare services — and maximize the income from medical sales operations. For example, DHLT enables the possibility of paying for transactions within the DeHealth ecosystem and payment for access to medical data.
Additionally, the token will afford users the opportunity to:
Are there any benefits? Yes, especially in terms of insurance coverage.
The traditional health insurance plan would require paying a monthly, quarterly, or annual premium with your own money. DeHealth, through its monetized medical data model, would allow you to earn all or a significant amount of the DHLT tokens needed for insurance by engaging in several activities such as referrals, loyalty programs, filling out a DeHealth ID (health card), data validation, adherence to doctors’ prescribed treatment, etc.
Both Users and Suppliers will be able to check the balance, trade, withdraw, and make deposits. However, the user’s wallet will also include staking functionality. Users can withdraw their data from the DHLT Network at any moment. They can remove their funds from the DeHealth wallet at any time: in fiat, crypto, or insurance credits.
While the established medical data market is growing slowly, the introduction of blockchain technology presents a solid opportunity for exponential growth in the coming years. DeHealth, through its native token, strives to be at the forefront. DHLT will pioneer an ecosystem where users can earn passive income from selling relevant depersonalized medical data.
Per the team, DHLT will list on several exchanges in the forthcoming weeks as part of its plan to drive the adoption of these tokens.
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