- HIT is a decentralized system with the goal to be an autonomous application in the future
- No central database
- Transparency of transactions and traceability of data usage
- Execution of smart contracts and token transfer
- Like every country has its own currency in order to be independent, the HIT ecosystem has to be independent from the volatility of other cryptocurrencies. Traditionally, healthcare is constantly growing market and is immune to crisis, therefore, we also expect the HIT token to be more stable than other CC.
- Another reason for HIT to have its own token is the utility that can be incorporated into the token.
- Last but not least, the HIT token sale finances the platform.
- We tokenize health information and thereby create the healthcare currency of the future
- Direct and consentual access to health information by information seekers
- Missing Link: Motivate individuals to digitize their health data
- The information seeker defines the query, the query is written on the blockchain and the individual’s app reads the blockchain.
- If the meta data (e.g. age or health problem), that you entered in your app and which is stored locally, matches the query then your app displays the query to you.
- If you accept the offer you are guided to a page where you receive further instructions by the information seeker how to provide the data.
- In the first version of the HIT platform the raw data e.g. questionnaire data, will be transmitted but we are sponsoring a research project where we test a temporary storage system where the info-seeker can analyze the data, gets the results but never the original data.
Very often it is not legacy data that is of interest to seekers but real-world data such as treatment side effect under a certain medication. This data is very time consuming and costly to get, but invaluable for an outcome based reimbursement.
- Traceability: The individual as the data creator is the one to decide if, when and by whom the health data is being analysed
- Fair valuation of health data and reimbursement of its usage
- Easy access to a pool of individuals who can provide data such as patient-reported outcome
- HIT does not monopolize data!
- open and autonomous platform for other’s to execute existing and/or new business cases around the transfer of health-related data.
- HIT focuses on the opportunity to motivate individuals to provide real time and real world data. A persons health history can also be of interest to information seekers. However, HIT is open to everybody: health individuals AND patients.
- Through the smart contract it is clearly defined what the data can be used for. Violation of the agreement by the information seeker will be penalized.
- HIT is working with external providers to offer a temporary storage where analysis can be performed and the seeker only gets the result (zero-knowledge proof) and the access to the data can be revoked.
Data processing oracle and the information seeker define the data standard and the quality in which they want the data to be submitted
- A Foundation is more trustworthy when dealing with patient data.
- The HIT Foundation does not monopolize and commercialize the data of the users.
- HIT platform is about governance and not about platform capitalism.
- Protect people‘s rights.
- A growing network leads to increased network value based on the size of its user base, number of quality partners and how often the token changes hands. The network value is closely related to the token value.
The HIT Foundations business model relies on its two tokens:
The HIT utility and payment token (HIT) is a revenue model in itself. The value of the capped token is based on the size of the user base, the number of quality partners and how often the token changes hands (velocity). A growing network leads to increased token demand and value. In order to motivate users to stay in the network a 5% transaction fee that is collected from the information seekers will be distributed among those users who update their data on a regular basis.
The HIT contributor tokens (HITC) are issued and sold to investors/contributors to build and run the platform (asset token). Contributors buy HITC and thereby gain the right to receive a share of a 5% transaction fee that is collected from the information seekers and will be divided equally among all HITC tokens. Revenues of HITC tokens depends on the number of users in the system (see Graph). It is estimated that on the average each user generates € 5.75.- per month worth in HIT tokens, i.e., € 69 ($ 80) per annum. Of which € 3.45 are transaction fees allocated to the contributors. Based on that calculation, with a user base of 5 million individuals, one HITC generates € 3.47 per year.
The HIT utility/payment token:
- gives individuals an incentive to digitize health data
- aligns incentives of network participants because the HIT platform won’t be successful without wide-scale collaboration and coordination
Our asset token (HITC) is used to finance the platform and gives contributors the right to receive a share of a 5% transaction fee that is collected from the information seekers. The revenues from the transaction fee will be divided equally among all HITC tokens.
- Good scalability
- Secure and established blockchain
- Energy conserving consensus mechanism Proof-of-importance
- Mobile Multi-sig wallet with extended functionalities
- Interaction with Blockchain through API -> Speed of software solution delivery increases dramatically
- Digital contracts can be adapted because logic remains off-chain
- Public blockchain can be connected / interact with private blockchain
- Human Friendly Addresses (Namespaces)
- In the HIT Namespace additional tokens (mosaics) can be created
- Low transaction costs when writing on blockchain
- Direct support of HIT by the NEM Foundation