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Cryptocurrency In Healthcare

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Blockchain technology has broken into various areas of human life, promising improvements and quite new levels of development. Healthcare exploration is one of the most dynamic of all industries. However, the conflicting nature of this area in conjunction with huge expenditures needed for any changes represents a serious obstacle for modifications. As a result, healthcare’s adoption of new technologies is known for its sluggish pace.

 

Nevertheless, the determination and perseverance of the blockchain industry has not allowed these barriers to halt them. Cryptocurrency has progressively penetrated the field of healthcare. Actually, it is high time to decide : Are blockchain and cryptocurrency really as ideal as they claim to be?

 

Spoiler

 

Cryptocurrencies in a Nutshell

 

To understand the hype around cryptocurrency, it is important to understand exactly what it is. Cryptocurrency is often called ‘the money that lives on software platforms.’ It is digital cash or tokens. The desirable concept of cryptocurrency is it simplifies online transactions and makes them more secure. A feature making cryptocurrency unique is its specific structure is not issued by any government or central authority. Therefore, it is not legally regulated.

 

Cryptocurrency is a part of a relatively new type of decentralized technologies which have numerous advantages as a balance between accessibility and inherent security, reliability, fraud prevention and more. The decentralization of blockchain is a new way of allowing a look at networking, and it raises multiple significant problems with business and its customers.

 

Decentralization gets rid of huge databases in one central location. Instead, it disperses its accounts across multiple computers located all over the world. This innovative technology has various applications which can be used in different areas, but its origins in the healthcare industry make it especially successful for transformation and development.

 

Furthermore, the advent of blockchain in healthcare makes it possible to create ICO (Initial Coin Offering) projects, which offer great possibilities for interesting, useful projects to obtain financing. An ICO is a form of fundraising through selling fixed amounts of underlying crypto tokens to investors. It is a relatively new phenomenon; however, ICOs have quickly become popular. Obviously, it is advantageous for both investors and developers and provides opportunities to implement great projects.

 

Who can use Blockchain and Cryptocurrency in Medicine?

 

At first glance, the application of blockchain and digital currencies in the healthcare industry may not seem clear. However, one should take a broader perspective and look at all players — patients, their families, doctors, pharmacies, etc. — as elements of a single ecosystem linked through multiple types of transactions that can all benefit from tokenization:

 

- Hospital staff — manage access to patient information, track appointments, control supplies of drugs and equipment

- Hospital patients — pay for infotainment packages

- Patients’ families — book accommodations near the hospital, order food and services

- Pharmacies and drug distributors — sell medications, verify the authenticity of prescriptions, perform factory-to-pharmacy quality control

- Doctors — offer remote consultations and receive controlled access to patients’ data (where local regulations permit)

- General public — request consultations from outside specialists, including those abroad; pay for consultations and drugs; store and share medical records

 

It should be noted that many application possibilities do not involve cryptocurrency payments: For example, process optimization inside a hospital will not require any transfer of money apart from the standard network fees.

 

 

More on this article: https://medium.com/@clinicallhealthcare/cryptocurrency-in-healthcare-gold-rush-or-bad-news-889e73cd9142

 

For cryptocurrencies to become fully adopted, every sector of society should consider whether it will provide further benefit to their services. The healthcare sector is one of those. Patients and hospital staff can use crypto for transactions like hospital fees, medical supplies, etc., and hospitals can use crypto's blockchain technology for their databases.

 

Just imagine if in the future, if I get old and sickly, and have collected a lot of Bitcoins and other cryptocurrencies in my youth, I can use them to help pay for my medical bills. But then again, if hospitals decided to create their own coins, and that coins they created turns out into shitcoins, they might place their institutions into financial jeopardy. And if that happens, there will be severe repercussions, as we all know that lives can be literally at stake here for obvious reasons.

 

So unlike the other sectors, the healthcare sector are in a more precarious position where financial failure is not an option, especially the larger ones. Extra care should therefore be taken by them when venturing into the cryptocurrency field.

 

What do you think?

 

On 3/27/2020 at 10:48 AM, kyoukage01 said:

Now that we have a case of a pandemic due to the recent outbreak of [COVID-19] virus, some medical institutions are asking for donations to help combat the disease. There are news now where crypto is also accepted as a means of donation, whether for buying supplies like masks and medicines or for funding research in developing a cure. So in a way, more and more of them are now involving themselves in crypto, and hopefully they stay that way even when the disease is suppressed. That will then be another step in crypto being fully accepted globally.

 

 

Edited by kyoukage01
major update in topic
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Yea I too think bitcoon and blockchain technology can help a lot with the medical feild and one of the coins I'm investing my money in is called MTN and its about creating patients record and store it and have the patients info with them no matter wyat hospital they go to.

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I think that the blockchain in medicine is developing and again there is a potential for the development of cryptocurrency in medicine. Medicine does not stand still and wants to attract investments as a cryptocurrency. 

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On 11/27/2019 at 6:12 AM, Hanhassie said:

If it is for the hospital it would not be a shit coin, since it has to be bought before you will receive medication in the hospital right.

I think everything should be in the right place, if countries adopted bitcoin then this will be in the financial system first but if they saw that this coin is a successful project they will generalize it to other fields 

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It will not be dangerous and there is always a solution
So you can still convert your currencies to any other currency you want and also sell them to people against the local currency


 

Life is great and enjoy it

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I think that cryptocurrency in health care is a good thing, those who do not have money at the moment will be able to pay for services with cryptocurrency

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On 11/28/2019 at 2:44 PM, Sameer25 said:

It mught be hold rush because if its in the health care than there will be the only fact that people should  get into the fact of that so think of that propeller of the need

when it comes to healthcare some people get emotional but the fact is those companies end up selling your info to other pharmaceuticals companies and they use it to make more drugs. which is why we need blockchain in this business.

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On 11/27/2019 at 10:12 AM, Hanhassie said:

If it is for the hospital it would not be a shit coin, since it has to be bought before you will receive medication in the hospital right.

Still BTC is not approve in all over the word thats why so many peoples will not be except but when the governments will legal the BTC than the peoples in hospitals will except the BTC and also the other coins which is good for us and we can use that.

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On 12/2/2019 at 11:00 AM, Hanhassie said:

That is a nice think. Bitcoin is already successful it should be used first for general testing before other coins

In this sector I think that is absolutely long time process , because many countries have they do not accept this crypocurrency. When it will that is just like a dream now.

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In the terms of block chain the privacy and security of patients data will be ensure if that is implemented properly. In the terms of crypto currency the income can increase for the staffs.

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It would be nice to work like an ant in the summer to rest in the winter and live in luxury and I think collecting cryptocurrencies now will make your life easy in the future


THINK POSITIVE

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21 hours ago, Yawar said:

Well first of all, I would like to congratulate you for understanding the potential of Blockchain technology in the healthcare sector as most of the blockchain projects are in the Finance sector, truly healthcare needs blockchain technology as life is more important than money.

Blockchain technology can truly be used for things other than businesses and finance. The idea of using crypto coins in the future to pay for your medical fees when you get old will be quite interesting especially if you have accumulated a lot of crypto when you were younger.

 

20 hours ago, Yawar said:

one of the blockchain based projects I came across is AfriHealth, haven't tried them but saw some good positive reviews, anyone knows?

I happened to come across a list of healthcare-related coins on this website:

https://cryptoslate.com/cryptos/healthcare/

and AfriHealth isn't on the list yet. Is that one of the newer coins currently in development?

https://www.afri-health.com/

 

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Online payment system definitely good. If crypocurrency added this sector then it will be much better for us. Because we can earn here. Then our earning money we can use health care. But this is long time process.

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Crypto is future with various advantages and dangers .We can't sure about any coin future but make certain guess about them.So if any institute make any shit coin and failed then it does not mean an end of the  road for them.Their will be  another coin who become successfull and gain more trust of people.The market runs on evolution so fearing about future of coins are not good for health.So move forward and learn more about crypto so our old age spend in comfort .

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On 11/28/2019 at 5:47 PM, bliznec said:

I think that the blockchain in medicine is developing and again there is a potential for the development of cryptocurrency in medicine. Medicine does not stand still and wants to attract investments as a cryptocurrency. 

The crypto adoption in Health care is good sign this can be bring more progress in medical sciences their are many project under research and laking funds .If crypto baked them they can bring more then just finance  but also new cure for dangerous diseases.

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On 11/26/2019 at 9:19 PM, kyoukage01 said:

More on this article: https://medium.com/@clinicallhealthcare/cryptocurrency-in-healthcare-gold-rush-or-bad-news-889e73cd9142

 

Just imagine if in the future, if I get old and sickly, and have collected a lot of Bitcoins and other cryptocurrencies in my youth, I can use them to help pay for my medical bills.

 

But then again, if hospitals decided to create their own coins, and that coins they created turns out into shitcoins, they might place their institutions into financial jeopardy.

 

What do you think?

 

I also think like you. But I think every institute don't have different coin. There will one coin for a country. And bitcoin can be the global currency which will replace USD.


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I think that the cryptocurrency will not affect the healthcare sector in any way except for payment for services, it makes no sense for them to create their own coin that can collapse at any time from circumstances beyond their control.

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On 11/26/2019 at 9:19 PM, kyoukage01 said:

More on this article: https://medium.com/@clinicallhealthcare/cryptocurrency-in-healthcare-gold-rush-or-bad-news-889e73cd9142

 

Just imagine if in the future, if I get old and sickly, and have collected a lot of Bitcoins and other cryptocurrencies in my youth, I can use them to help pay for my medical bills.

 

But then again, if hospitals decided to create their own coins, and that coins they created turns out into shitcoins, they might place their institutions into financial jeopardy.

 

What do you think?

 

I also think. Not only for medicine bills we can pay on more platform through this. As i heard about bitcoin that it will be our future global currency. And in future every country will launch their own coin for internal payment.


 

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Your view of the matter is wrong. When hospitals create their own cryptocurrencies, these cryptocurrencies are linked to the hospitals ’success and will only become worthless if the projects of these hospitals become failed and worthless.

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On 11/26/2019 at 8:49 PM, kyoukage01 said:

More on this article: https://medium.com/@clinicallhealthcare/cryptocurrency-in-healthcare-gold-rush-or-bad-news-889e73cd9142

 

Just imagine if in the future, if I get old and sickly, and have collected a lot of Bitcoins and other cryptocurrencies in my youth, I can use them to help pay for my medical bills.

 

But then again, if hospitals decided to create their own coins, and that coins they created turns out into shitcoins, they might place their institutions into financial jeopardy.

 

What do you think?

 

If their medical services would be good then their coins would not be shit coins. Because more people would hold their coins to get services from hospital. But I do not think each hospital would create their own coin because it is not easy game.

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21 hours ago, tienda said:

Sincerely I see that there are many companies and government interested  in Blockchain technology more than in cryptocurrency, this is the real situation,  for them Blockchain technology is useful and necessary.

They mostly use blockchain technology for some applications. In the case of this topic, it can be used for keeping hospital records in a more secure and accessible network that cannot be easily altered or lost. But that's not keeping others from dabbling in crypto as well, and I think there are already some crypto that are tied in to the medical field, like Dentacoin and others.

 


 

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On 11/28/2019 at 8:29 PM, Naga said:

Yea I too think bitcoon and blockchain technology can help a lot with the medical feild and one of the coins I'm investing my money in is called MTN and its about creating patients record and store it and have the patients info with them no matter wyat hospital they go to.

Well, this is possible because cryptocurrency can help many things to sustain it by money, and in terms on medical, it helps to buy some things or tools that they will used.

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50 minutes ago, Rosaline149 said:

If some separate sector like medical issuing their own cryptocurrency, they should also think about to make available to support other fields too. If you have Bitcoin with you, medical sector should still think about to accept Bitcoin or give the opportunity to swap BTC to their native currency. 

Every industry should have a digital infrastructure to let their customers to convert Bitcoins to whatever currency they like, or even Bitcoins directly if they wanted. This should be especially true with the medical field, as emergencies might arrive where your life literally depends in it. Here in our country, there are cases where hospitals refuse to administer treatment for patients because they could not pay, and some died as a result, and are not released and left to rot until the relatives pay for the whole cost. Scary!!!

 


 

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I think that will not happen soon. For this purpose, governments should adopt Bitcoin and digital currencies as a domain in general, and by this I mean that currencies become a means of payment.

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    • in1go.cc - это платформа, созданная для тех, кто хочет обменивать криптовалюту и фиатные деньги быстро, безопасно. Мы предлагаем широкий спектр электронных валют, таких как Volet.com(Advanced Cash), Perfect Money, Payeer, Bitcoin, Ethereum и многие другие. Наша система обмена работает на современном программном обеспечении, что гарантирует высокую скорость обработки заявок, которая ограничена лишь скоростью обработки транзакций в Платежных Системах и обычно составляет от нескольких секунд до 30 минут. Мы гордимся своей репутацией надежного партнера и стремимся к тому, чтобы каждый обмен был максимально выгодным и безопасным для вас. На нашей платформе действует программа лояльности, которая позволяет зарегистрированным пользователям получать накопительные скидки и участвовать в партнерской программе. Чем больше вы совершаете обменов, тем меньшая комиссия взимается за каждую операцию. Также у вас есть возможность воспользоваться реферальной программой и получать дополнительный доход. Мы уделяем особое внимание безопасности ваших транзакций и личных данных. Оптимизированная технология обработки позволяет совершать обмены быстро и без задержек. Интерфейс нашей платформы разработан так, чтобы каждый мог легко и без усилий проводить обмены, даже без предварительного опыта. in1go.cc - не просто очередной обменник. Наше отличие не только в софте. Суть in1go в людях, в вас - наших пользователях. Мы используем в нашей работе инновации и автоматизированные технологии, но главный наш актив - это ВЫ, а главная цель - дать максимально удобный, комфортный и надёжный сервис. Присоединяйтесь к нам на in1go.cc и оцените преимущества использования нашей платформы самостоятельно. Мы стремимся к тому, чтобы каждый ваш обмен был максимально удобным и безопасным. Как можно с нами связаться: По почте: contact@in1go.cc Online чат на главной странице сайта Мы осуществляем обмены исключительно на сайте https://in1go.cc/ посредством создания заявки!
    • Друзья, наши курс на данный момент: USDT – RUB – 84.6 (Не забывайте, что курсы нестабильны, точные данные можете узнать в моменте у поддержки)
    • Добрый день всем нынешним и будущим клиентам 😊 Курс по направлению: BTC – RUB – 4 875 610 Обменник работает в ручном режиме, 24/7. Подробности уточняйте у операторов.
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