I'll be addressing a couple of key questions any investor might have into Patientory. As always, I'd appreciate you genuine thoughts, opinions, and some friendly banter. 3rd post on the platform so and with that said, here i go!
Question 1. What's there to keep safe about healthcare? Who cares to know my medical records?
There are two sides to the "keeping patient information safe" coin. The one everyone hears about is ensuring 100% HIPAA confidentiality. The other side is known as BUSINESS CONTINUITY.
Business Continuity is defined as the Hospital's ability to ensure it continues to run without a hitch even in the event of a cyber attack.
During a hospital stay, medical records are being updated and used in real-time to ensure you get the correct tests done on you, correct notes from the consultation recorded, correct medications and operations done on you.
Currently, if everything electronic shuts down, most hospitals have to every to the stone age of paper-based medical records that we transitioned away from exactly because of their lower ability to error-proof steps.
Arguably, keeping people alive and the cogs turning during a cyber attack is the larger of the two motivations for safeguarding healthcare records.
Question 2. Okay, so keeping records safe is important. But is it a huge business?
I'm gonna be upfront and say, No, I don't think so.
BUT! I believe the rising number of ransomware cyber-attacks is already shaking the current landscape.
Patientory's recognition in the Boomtown Health-Tech Accelerator based in Boulder, Colo., in collaboration with Denver-based Colorado Permanente Medical Group is not a happy coincidence.
Something is brewing and its gonna be big.
Question 3. What has Patientory got to offer? Is it like what i read on Reddit, a shill money grab coin
Unlike traditional two-tiered architecture (client/server), Patientory concept centres around the plug-in of a blockchain middle-tier enabling Hospital in-house IT teams to develop application, functionality, and feature sets, using familiar tools and languages.
Why does this matter? Because when you make medical records "unstoppable code" like bitcoin, where every server is a full node of information, do you ever have to worry about a DDOS or the lockdown of one of the nodes information?
Of course not!
Also, quoting the White Paper pg.14 (which isn't Ctrl-F searchable btw, PTOY pls buck up), the founding team receives a 10% allocation of PTOY tokens. BUT, 20% of tokens are allocated to a fund to be used for Research and Development for healthcare use cases.
Lets face facts, a money grab wouldn't allocate double the amount for R&D. And a money grab wouldn't put that reward into a 12-month holding period.
They could have, but they didn't.
The Team
Honestly an somewhat underwhelming team BUT HEY! so were Satoshi Nakamoto and Vitalik Buterin before their fame. And quoting the Medium article, "Shawn Wilkinson, CEO of Storj (blockchain-based cloud storage) is listed as one of eight advisors to the project. All eight advisors make a professional and relevant impression."
Nuff said!
At the time of this post, Patientory is recruiting Project Manager, Marketing Manager, and Business Development Associate. Prudent use of the ICO funds if nothing else... of these three, I hope they get their marketing manager soon as it seems they're in quite a clear need of a positive online presence.
I hope this article has been informative and look forward to reading your comments!
Cheers & have a good one all!
For more reading & sources:
1. CTO's blog: https://patientory.com/2017/06/30/healthcare-re-engineered-powered-patientory/
2. White Paper: https://github.com/Patientory/white-paper
3. https://medium.com/@cryptojudgement/patientory-personal-healthcare-on-the-blockchain-30a6babc9c2f
