Solve.Care partners with UberHealth
Startup Solve.Care, which raised a $20m ICO last year, got access to UberHealth’s entire North American fleet this week after inking a partnership with the Uber subsidiary. By doing so, Solve.Care can integrate Uber Health’s ridesharing services in their apps and let users deploy them without needing an account with Uber. Solve.Care has a similar arrangement with Lyft, and in both of these partnerships users can pay for their rides with Solve’s token or their stablecoin. 3.6 million people in the US
cannot obtain medical care due to transportation barriers, and it is the third most commonly cited barrier to accessing health services for older adults.
These ridesharing services are provisioned through Solve.Care’s Care.Wallets, which insurance companies can deploy to their members to help them manage their care. Solve.Care uses a blockchain as a ledger
to record events that take place on its platform. So, if I understand this right, if a patient were to get a ride scheduled with Uber using a Care.Wallet a record of that would be embed on the Ethereum blockchain somewhere. Likewise, if that same patient were to see a provider or make a payment those would also be recorded on a blockchain (using a combination of on and off-chain storage, I might add).
Having all of this information on one ledger that multiple people can access would be useful and could reduce costs. But like other blockchain solutions the difficulty is getting the right business parties around the table and all building on one single solution. I suspect that at some point Solve.Care’s token will prove to be a rate limiting factor for adoption as it introduces another point of friction and is unnecessary if you’re only using a blockchain to sync events between multiple parties.
Lastly, I would note that Uber was recently announced as one of the founding members of the Libra Network. This partnership is another data-point that demonstrates their commitment to and interest in blockchain technology.On $DNA Tokenomics by Encrypgen's CEO
Encrypgen is a blockchain and genomics startup giving people control of their data and creating a marketplace for users to monetize their genomic data. The idea being that people will buy and sell genomic data using this token. Encrygen has their own token and raised some $1,000,000 along with it. During 2016 – early 2018 when a major bull run was underway nearly every token was rising and everything was fine. But when the market had a down turn smaller tokens were hit the hardest, many of which in healthcare lost 90%+ of their value
. Check my semiannual report
for the latest data on healthcare ICOs.
As Encrygen points out these prices can be upsetting to stakeholders. To Encrygen’s credit, they have refused to engage in the dark underbelly of cryptocurrency markets
and do things like pay “market makers” at exchanges to artificially drive prices up. Further to their credit, Encrygen seems to have found some product market fit, generating predictable user growth on their marketing dollars, and they are being transparent about their thinking on their token.
Encrypgen says they are not in the “token business” but are in the “genomic data market business, using a token based market” and suggests not paying attention to the price of their token. I don’t think this is a meaningful distinction to make. It is one thing to integrate cryptocurrencies as a payment mechanism, it is another to create your own token. You are, by definition, in the token business by merit of having a publicly traded token.
Measuring a project’s success on short term market movements is a bad idea. But the goal for all projects which have tokens should be to create sustainable value. I would like to see healthcare ICOs adopt more of the innovations in token economics that the broader space has seen. The duo of Binance’s BNB and Bitfinex’s LEO
have arrived on a model of staking and buybacks that seems to have a good chance at creating long term value. Perhaps something similar could be applicable to genomic and health data marketplaces given their similarities to exchanges.