Blockchain Breaking into Healthcare: An industry that needs innovation and the cryptocurrency that's going to do it.

Patientory

So I stumbled upon Patientory when I was digging for a cryptocurrency longshot. Not longshot as in a lottery gamble that it will be successful, but a longshot being a relatively new token and a small market cap.

I work in healthcare and working with patient records is a daily function of my job. The space hasn't been innovated with the vigor it needs. There are so many cybersecurity concerns involving patient and medical records. Just this past year, hospitals were held at ransom and their records paralyzed at the hands of hackers. This caused tens in millions of damages. Not to mention, hospitals spend a ton on medical records (in the tens of billions), their maintaining, training, lawsuits and they are beheld to the companies that provide services, almost forced to agree to "upgrades" at any cost. This industry needs innovation badly and Patientory caught my eye in being that possibility.

What is Patientory?

Patientory is a company that was founded to utilize blockchain technology to secure medical records and have it accessed easily by providers, patients, and healthcare facilities. It wants to revolution a field rarely innovated and constantly breached. It not only tackles that, but also aims to use the information collected through the blockchain to better prevent readmission which costs hospitals over 500 million a year in penalties.

The Eye Test

The eye test is what like to use when first considering a crypto currency to invest in.

Number 1: Does it have a good team? A good development team is the make it or break it for me. Good teams can overcome a variety of obstacles and with a technology so new, they will be plenty. The team has to be diverse as there are many areas that need to go right for a crypto project to succeed. The team at this crypto have assembled what I can tell by their Linkedin profiles. I am also happy to see this project headed by doctors because only they truly know the dire needs this platform needs to fill.

Patientory

Number 2: Does it have a large market? This one can be tough to answer because some cryptocurrencies have such a broad application that it can be difficult to narrow what market they are attacking. Also, some currencies attack a market that really is not that large and therefore doesn't have too much room to grow. The market Patientory is aiming to displace is worth billions, and although it is early, it has a good chance to do this. The old system is antiquated and riddled with inefficiency and security problems.

Patientory

Number 3: Is it unique? There are so many cryptocurrencies out there that are nearly a reskinned copy of another. If you look into their operating protocol, they really aren’t all that innovative or different. Many also aim for the same market or purpose which can clog up the space and many competitors will eventually fail. Patientory is one of a kind. They give a detailed breakdown of their operating protocols on their website and it is unique in my opinion. There is only one token or company out there trying to utilize blockchain for medical records and that company is only aiming to aim their product at patients. Not hospitals, health systems and providers.
Patientory

These are just beginning, further examination of the Patientory plan and blockchain holds up to my scrutiny.
I will be watching the development closely and be buying more over time.