In May 2018, the World Health Organization published their list of 17 sustainable development goals (SDGs) to be achieved by 2030. These goals cover issues from ending poverty and hunger, to ensuring that good healthcare is available globally, as well as tackling environmental concerns like pollution and climate change. In recent years there has been increased interest in using blockchain technology to solve these very same problems, so it would appear to be a match made in heaven for cryptocurrency enthusiasts looking to make the world a better place by aligning themselves with one of the UN’s largest agencies.
Part 1: The 6 Benefits That Cryptocurrency Can Bring to Healthcare
Developed countries like Switzerland, Sweden, Japan, Singapore, France and Norway have been using cryptocurrency for healthcare. Cryptocurrency is decentralized currency and operates independently of a central bank. It is not liable to inflation because it is immune to changes in economic or political policies. This independence provides protection against corrupt government officials who can inflate supply of money at will without sufficient accountability or oversight. Inflation leads to higher prices on goods which disproportionately affects low-income people who are forced to spend more of their income on essential items. Cryptocurrency may also help solve problems with funding shortages by providing an alternative means of fundraising, bringing up new sources of revenue, creating new jobs and boosting the economy. For example, Israel’s government is considering a proposal that would require all citizens with assets worth over $100k USD or equivalent in Bitcoin or other digital currencies report them to tax authorities starting 2020. The value proposition offered by cryptocurrency has helped many governments see it as a solution instead of just looking at its problems. An important way that cryptocurrency contributes to SDG’s 2, 4, 5, 6 and 8 is through lowering the barriers of entry into global trade. Implementing blockchain technology for cross-border payments could drastically reduce costs for international transactions and lead to increased liquidity across markets. Cryptocurrency also has great potential to disrupt legacy business models in sectors such as retail banking, remittances and microfinance. These organizations are already feeling the pressure from new fintech competitors like Transferwise – and cryptocurrencies offer an opportunity to meet those challenges head on with cost savings and better customer experience while still making healthy profits. Health services providers can leverage these technologies to make big improvements in operational efficiency and financial stability. Government agencies can use this technology to streamline processes and cut down on fraud. More broadly, these technologies provide good living conditions by reducing inequality (SDG 1), improving health outcomes (SDG 3) and protecting nature (SDGs 7 & 13). Blockchain technology improves transparency and reduces risks of corruption within government agencies. It offers greater security for patients’ health records by being unhackable, whereas current databases are vulnerable to cyberattacks that may leak confidential information about medical histories and allergies. If a country implements smart contracts alongside bitcoin transactions, there is no need for lawyers because all agreements between parties happen automatically. Countries with fewer lawyers mean less crime (SDG 16) and less poverty (SDGs 1 & 17). Furthermore, decentralization makes everyone accountable to themselves instead of relying on others so if someone does something wrong then they have to live with the consequences. Transparency ensures that we know what’s going on when governments start trying out new projects in order to ensure public participation which is needed for sustainability (SDGs 12 & 14). Governments can also decide to do things that are difficult to accomplish with old technology like universal health coverage. Technology can give a lot of power back to the people by enabling social movements like Idle No More and Black Lives Matter who work on grassroots campaigns to create awareness for certain causes. With a cryptocurrency, members of these groups can quickly raise funds for demonstrations or rallies using virtual currency. All of these factors contribute towards SDG’s 1, 2, 3, 4, 5, 9 and 11 respectively. This is because the technology is more accessible, efficient and transparent. With more resources, governments can focus on higher quality health services and overall well-being of their people. Cryptocurrency and blockchain technology have brought a new dimension to the healthcare sector by increasing accessibility to good living conditions, promoting health outcomes and fighting against climate change (SDG 1). The financial inclusion seen from countries utilizing cryptocurrency has increased due to lower costs for sending remittances across borders without additional fees and the wider range of banks providing access to such technologies. Governments and technology providers can leverage this technology to meet SDG’s 8, 10, 11, 12, 13 and 15 through data storage capabilities provided by decentralized networks as well as providing tools for health organizations so that they don’t need to worry about having expensive hardware (eg. an EMR system)
Part 2: 4 Ways Blockchain Technology Can Improve Accessibility to Healthcare Services
The blockchain provides new, innovative opportunities for health systems around the world. By improving accessibility to healthcare services for those who need it most, this innovative technology could potentially help close some of the gaps in care highlighted by WHO in its SDG agenda. Whether by providing a reliable log-in service to share health records with providers or connecting patients with donors to provide medication where there is no other means of obtaining treatment, blockchain-based initiatives can dramatically improve patient outcomes while boosting operational efficiency.
While health is certainly an area that is long overdue for technological innovation, the potential uses of blockchain are far broader than just healthcare. The digital ledger system can be used in any number of sectors, from government to retail, where identity management and transparency are necessary components of successful business models. Blockchain’s encrypted design also makes it an attractive option for industries like health, which are highly regulated but require public access to records due to their sensitivity. One significant benefit of using blockchain technology in health care is the opportunity to solve problems related to access, data security, privacy, information sharing and more without compromising HIPAA compliance.
Oftentimes when we think about improving access to health care services globally, we’re talking about expanding coverage under existing policies rather than changing how things work on a fundamental level. However, according to the UN Sustainable Development Goals (SDGs), tackling health inequalities and inequities should be done at all levels. When it comes to improving health outcomes, this goal entails reducing disparities between vulnerable populations as well as addressing chronic diseases like cancer and diabetes. To accomplish these tasks effectively, governments will need to invest heavily in educating citizens on good living habits such as healthy eating, exercise and smoking cessation while implementing stricter regulations on junk food marketing campaigns and introducing environmental protections against carcinogens. However, what if we could increase financial mobility for low-income earners through savings accounts connected directly to subsidies? What if mobile technology was introduced into hospitals to streamline patient flow? What if preventative health was given as much attention as curative health? These are just three of the many ways governments and technology companies alike could further progress towards achieving improved health equity worldwide. Indeed, few would argue that progress towards achieving improved health equity has been lackluster. And considering the multitude of ways governments and technology companies alike could make progress towards achieving improved health equity worldwide, few would argue that progress towards achieving improved health equity has been lackluster. That being said, the role of government and technology companies in regards to health equity shouldn’t be minimized. Governments, for example, have a responsibility to ensure that their people receive the appropriate amount of funding for physical infrastructure and human resources to facilitate greater participation in health programs. Technology companies must create incentives for people to adopt healthier lifestyles through mobile technology tools designed for wellness. Finally, both governments and technology companies must educate citizens on good living habits such as healthy eating, exercise and smoking cessation so they don’t become victims of sedentary lifestyles caused by excessive screen time. As the health of our population continues to deteriorate, it is important that governments and technology companies continue to innovate in order to come up with innovative solutions for the future.
Part 3: 3 Reasons Why You Should Consider Investing in Crypto Healthcare Startup
Healthcare is one of SDG3’s areas of focus. Technological innovation will be necessary in order to find ways to provide universal health coverage while delivering essential medicines to all people who need them. There are a number of promising technologies, including cryptocurrency, which could help achieve the SDG. In fact, there are many excellent crypto healthcare startups that can potentially provide affordable access to healthcare for people who would otherwise not have it – here are 3 great examples.
*Bitcoin could improve economic development by lowering barriers and costs associated with financial inclusion in emerging markets such as Africa, South America, Asia, etc. *Blockchain-based platforms might allow governments to issue their own cryptocurrencies or digital tokens that can be used to pay taxes or receive government benefits, improving transparency and accountability. *Technology like artificial intelligence (AI) has been shown to help diagnose medical images more accurately than humans. By using AI alongside human experts, health providers may able to serve more patients with greater accuracy.*Healthcare is one of SDG3’s areas of focus. Technological innovation will be necessary in order to find ways to provide universal health coverage while delivering essential medicines to all people who need them. There are a number of promising technologies, including cryptocurrency, which could help achieve the SDG. Bitcoin could improve economic development by lowering barriers and costs associated with financial inclusion in emerging markets such as Africa, South America, Asia, etc. Blockchain-based platforms might allow governments to issue their own cryptocurrencies or digital tokens that can be used to pay taxes or receive government benefits, improving transparency and accountability. Technology like artificial intelligence (AI) has been shown to help diagnose medical images more accurately than humans. By using AI alongside human experts, health providers may able to serve more patients with greater accuracy. However, technology alone cannot solve health problems and challenges around the world; we need governments and other stakeholders to play an active role. For example, governments should collaborate to form agreements on data sharing and privacy protection policies so that technologies can be developed safely and securely.
In addition, policymakers must also take into account health risks related to new technologies: from the potential of AI algorithms being biased against certain groups to risks associated with cyber security breaches affecting health care records. When these issues are taken into account now before launching any new technology, the potential for significant harm is greatly reduced. The governments and health care providers involved must develop clear strategies for managing the risks and challenges posed by disruptive technologies like blockchain technology and AI. They must invest in educating and training health care professionals about how to use these technologies responsibly and make sure the appropriate infrastructure is available, such as broadband networks. They must invest in research to explore the benefits of these technologies so they can be harnessed effectively. They must set ethical standards for the deployment of new technologies. And finally, they must ensure that health care providers are compensated fairly and protected adequately. Governments, health care providers, technology developers, and investors all have a role to play in ensuring technologies contribute to achieving the SDG. And this is why you should consider investing in a promising crypto healthcare startup! Cryptohealth makes health accessible, transparent, and fair. It aims to make health care free at point of service through tokenization. One way it does this is by creating a marketplace where health providers offer their services for tokens rather than traditional fiat currency. This marketplace enables users to buy treatments online without having to rely on insurance plans or government programs that often don’t cover everything needed when living with chronic conditions.