A relation between a token of no intrinsic value with an unconditioned reinforcer like food or a conditioned one like money has to be established by reinforcement. The law of effect Thorndike describes that behaviour which is followed by pleasant consequences as having a higher likelihood of being repeated, whereas unpleasant consequences decrease the likelihood of repeat behaviour.
The effectiveness of a token reward as a means of behaviour modification has not only been observed in humans but also in primates Wolfe or pigeons and rats Skinner ; Skinner In humans, it is often applied in cognitive behavioral therapy and childrearing. But how does that apply to health data and how could the tokenisation of health data be the solution of some of the most pressing problems in modern healthcare?
Health data as the currency of healthcare systems Modern healthcare runs on data. Everybody is on the hunt for data in order to optimise processes or develop better therapies. Tremendous amounts of data are being generated by medical documentation, regulatory requirements, and patient care Raghupathi Another driving force in this massive growth of data is the individual himself when using a fitness or wellness app. There are only estimates what personal health data are worth, but it can be deducted from what companies are willing to invest in order to gather those data.
It is a low price if you take into account what pharmaceutical companies invest in order to gather clinical trial data and real-world evidence. It results in a lack of incentives for individuals to demand or record, digitise, and update their health data. Hence, it perpetuates the current system of monopolisation of health data leading to siloes and inefficiencies instead of motivating the individual being in control of his data.
Tokens as incentives to digitise health data Most people are only interested in their health data when they are sick or when somebody they know is suffering from a health problem, but there are ways to motivate them to tend to their health data. It shows that healthcare systems must incentivise individuals to take control over their data.
At the same time a technical infrastructure is needed, where everybody who seeks data can ask individuals for their consent to make their health data shareable. A decentralised marketplace to tokenise health data Blockchain technology can facilitate such an infrastructure in the form of a decentralised marketplace where the access to health data is under the control of the individual. Information seekers can post their query and individuals can remain anonymous and decide whether or not they want to share their data.
Old technology systems that are put to the test by increasing amounts of data and stringent industry standards have not served to improve patient care, the argument goes. Consulting firm Deloitte believes that "blockchain technology has the potential to transform healthcare, placing the patient at the center of the healthcare ecosystem and increasing the security, privacy, and interoperability of health data. There are already many other healthcare-focused digital tokens and coins which have been launched in the past year, and ICO alert suggests that many more are on the way.
One of these upcoming launches, called BlockMedX, aims to address the rampant opioid crisis in the U. The service is designed to be used by physicians and pharmacies to help increase security and accountability in the prescription drug industry. BlockMedX analyzes millions of prescriptions to find concerns, helping to protect patients in the process. Medicalchain, on the other hand, uses blockchain technology to store and share health records securely, allowing for easy and safe transfer of information between providers and patients.
These are just a small sample of some of the new ICOs and cryptocurrencies that are in the works and which could shake up the health care sector. Will every new launch upend the existing industry? That's unlikely. However, if even a few successfully take hold, the health care world in the years to come may look dramatically different from the one of a few years ago, or even of the one today. Investing in cryptocurrencies and other Initial Coin Offerings "ICOs" is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs.
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How does it work? Patientory interconnects your system and care professionals through a blockchain-based network. The users can store and manage their health-related data, provide access to doctors, and get support from the community. As for healthcare providers, the network provides a platform where they can reach out to people who need their help and diagnose them by accessing their records. The Patientory users will also have the opportunity to buy PTOYs which can be used to obtain space to store their data and pay for health plans and hospitals.
Joseph Henry , Tech Times 12 September , am Photo : Executium from Unsplash Did you know that you can incorporate cryptocurrency into healthcare? Here are the five leading health-based tokens that you should know. Cryptocurrencies have indeed evolved over the past years. The once staple token which is used in holding and trading can now be used for gaming. What if these virtual tokens can be used in healthcare services?
The power of digital currency has gone beyond its limit. The idea of having health-based cryptocurrencies might be absurd at first, but it's entirely possible in the blockchain platform. What Are Healthcare Coins? Photo : Executium from Unsplash Did you know that you can incorporate cryptocurrency into healthcare? The idea of having health-based cryptocurrencies makes use of the platform in the healthcare industry. To give you an idea of how they work, they are basically virtual tokens that focus on helping the patients.
While popular cryptos such as Ethereum and Bitcoin involve trading, these healthcare coins involve payments for the hospitals as part of the business. At the same time, they are there to provide the patients with a convenient mode of payment. Five-Leading Healthcare Cryptocurrencies Doc. The blockchain community involving this healthcare token allows the people to avail a particular service or product for a corresponding value.
Of course, this health-based virtual currency will not be possible without its creator, Medical Token Currency, or MTC. So far, only a few blockchain developers have created these kinds of tokens. For patients, the cryptocurrency lets them have access to select healthcare programs under the blockchain.
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Crypto-currency for Medical Research - Joshua Smith - TEDxSVSUCARA TRADING DI CRYPTOCURRENCY
How does it work? Patientory interconnects your system and care professionals through a blockchain-based network. The users can store and manage their health-related data, provide access to doctors, and get support from the community. As for healthcare providers, the network provides a platform where they can reach out to people who need their help and diagnose them by accessing their records.
The Patientory users will also have the opportunity to buy PTOYs which can be used to obtain space to store their data and pay for health plans and hospitals. The power of digital currency has gone beyond its limit. The idea of having health-based cryptocurrencies might be absurd at first, but it's entirely possible in the blockchain platform. What Are Healthcare Coins? Photo : Executium from Unsplash Did you know that you can incorporate cryptocurrency into healthcare?
The idea of having health-based cryptocurrencies makes use of the platform in the healthcare industry. To give you an idea of how they work, they are basically virtual tokens that focus on helping the patients. While popular cryptos such as Ethereum and Bitcoin involve trading, these healthcare coins involve payments for the hospitals as part of the business.
At the same time, they are there to provide the patients with a convenient mode of payment. Five-Leading Healthcare Cryptocurrencies Doc. The blockchain community involving this healthcare token allows the people to avail a particular service or product for a corresponding value. Of course, this health-based virtual currency will not be possible without its creator, Medical Token Currency, or MTC.
So far, only a few blockchain developers have created these kinds of tokens. For patients, the cryptocurrency lets them have access to select healthcare programs under the blockchain. For the transaction, the platform will be needing the patient's data for research purposes.
Besides maintaining a high standard in health programs, this company also aims to help patients in a "structured" manner through virtual tokens. So far, you can access Panacea, Dr. Palette, and Medipass, the three services that it is offering , Aim blog noted. For patients who want to utilize these services, you can select Medipass through your mobile.
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