Healthcare Sector in Afghanistan to Experience Transformation via Blockchain

The health sector in Afghanistan is about to witness a major shift. This is coming after the country’s ministry of public health entered into an agreement with a blockchain venture. The venture is named FantomOperations and the plan is to incorporate blockchain technology into the country’s healthcare sector. This announcement was made public on the 27th of November when the Afghan Voice Agency reported it.

Big Transformation Coming

According to what was agreed upon, the healthcare sector in the country is about witness real change. In fact, the agreement is so comprehensive that blockchain technology is going to be employed in the identification of fake drugs. It is also going to be used in the establishment of medical registries in different medical centers. Even the digitization of the records of patients across the nation is also part of the deal.

While speaking on the whole deal, Ferozuddin Feroz, who is the country’s minister of public health was quite optimistic about the whole deal. He clarified that the ministry of public health was very dedicated to the idea of incorporating the latest forms of technology into the running of the health sector. He also went ahead to state that in order to achieve this goal, the adoption of blockchain technology was going to be the best bet. He also added that there are several benefits that the country stands to gain from the coming of blockchain technology. These included increased effectiveness, higher levels of transparency and even an overall increase in the speed of the various transactions.

Taking Challenges

Stakeholders of the sector on the side of the government and the general public are all worried about the several challenges ahead. One of the most prominent of these is the proliferation of fake drugs all over Afghanistan. This is a nation where so many Afghans depend on the use of traditional drugs as solutions for their several health challenges. There are reasons why they do this. Some of the main reasons are of affordability and easy access. This has been confirmed by a study from the European Asylum Support Office which made its findings public earlier in the year in April.

According to the report, the association of those importing medicines into the nation raised an alarm about a huge chunk of the medicines and medical equipment entering the country. They cried out that as much as two-fifths of these items are entering the country either illegally or they are fake. This is one of the reasons why the government is doing everything possible to tackle these hydra-headed challenges.

The United Nations is also interested in the developments made in the country. It has made it known that Afghanistan has commenced the implementation of blockchain technology-based solutions to address several issues. A good example in this regard is the one that has to do with sustainable urban development. The body is expecting that Afghanistan is going to become urbanized in the next one and half-decade. If all is to go as planned, then it has taken urgent steps now and that explains the use of blockchain.

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Author: Ali Raza

Australian Federal Government Health Agency Eye Blockchain, Big Data and IoT Technologies

The Australian Digital Health Agency is moving towards decentralized technology, big data, internet of things (IoT) and cloud computing as a solution to patient’s data recording. The government agency is looking for forward looking technologies to replace Accenture, a digital data firm, whose contract expires in 2020.

A New Digital Health Platform for Australia

In a request for information (RFI) released by the agency earlier in the week, developers are asked to come forward with ideas in “new technologies” to promote the collection and storing of patients’ data. The RFI reads,

“[There is] increased demand and spending are forecasted for the next decade [and so a] need to focus on an EHR system that seeks an efficient and cost-focused system.”

As reported by ARN, the Australian federal government are looking to employ a range of technologies from big data &analytics, blockchain technology, and the internet of medical things (IoMT). This is aiming to consolidating the electronic health records on a trusted and more connected platform that is secure and immutable.

Developers are urged to submit their innovations by December 3rd 2019 to the agency. A number of themes have been highlighted by the agency including:

“open, cloud and software-defined architecture; interoperability and data sharing and better management of unstructured data through analytics.”

Security is Key

The RFI from the Australian Digital Health Agency specifically emphasizes the security requirements needed from the data recording applications. This follows the recent Australian patients’ data breach stored on My Records, an online summary of Australian’s health information.

Such sloppiness and risks on patients’ data is strictly against the agency’s goals for the adoption of new technologies. The RFI states,

“Any system must be ‘secure by design’, from the beginning the system and software is designed to be secure.”

Developers are free to submit applications including medical bots, artificial intelligence (AI), machine learning (ML) and digital service delivery forms.

Blockchain Adoption Growth in Healthcare

A post on BEG on Sept 10 shows the emergence of blockchain solutions in the medical and healthcare industry. Global Market Insights shows the growth of blockchain technology in the industry is set to increase to $1.6 billion USD by 2025.

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Author: Lujan Odera

SimplyVital Health and Its HLTH Blockchain Token ICO Worth Over $6.3 Million Settles with SEC

SimplyVital Health, a company that held an Initial Coin Offering (ICO) in 2017 and was able to get $6.3 million USD worth of Ethereum (ETH), was recently charged by the U. S. Securities and Exchange Commission (SEC).

During the sale, the company was able to raise the money by selling Health Nexus (HLTH) tokens. These tokens were offered via a “simple agreement for future tokens”, also known as SAFT. The idea was to use this model in order to reduce risks associated with regulators intervening in the sale.

The problem was that the SEC determined that the company, which never actually delivered the tokens, was breaking the Securities Act by not being registered. This prompted the SEC to issuing a cease and desist order.

Since then, the health company has decided to refund most of the investors related to the sale. Because of this and the fact that the company decided to accept the cease and desist order, the SEC decided not to impose any other kind of penalties to the case.

Going after SAFT sales is a trend that the SEC has started to follow since last year. According to the institution, this new approach will make the operations smoother.

The entity will start to consider that some tokens can be utilities and securities at the same time, too. In this case, it is clear that because a token is used as a utility tool this does not mean that it is impossible to consider it a security.

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Author: Gabriel Machado

Patientory (PTOY), The Crypto Worth Less Than A Cent, Can Be Very Profitable In The Future

Many cryptos are all about a promise. Patientory is one of them. The crypto, which was created for a health app, is worth only a cent per PTOY token, but some of its executives believe that the project may be worth millions in the day.

Chrissa McFarlane, the CEO of the company, was recently interviewed by the crypto media outlet Coindesk. According to her, at the moment people are using the token only for small experiments, but she defended that the project may be worth millions in the future.

One of the main goals is to have data from healthcare providers in order to create a big network that will provide all range of health services for users.

At the moment, the project lacks clients, but it has a growing community with several contributors. The project is basically gearing up for a profitable future, its CEO affirms. According to her, the standards for interoperability of the company are getting better and, with time and testing, the network will finally be prepared to empower patients and to finally be profitable.

So far, Patientory was only able to get $12.4 million USD. Most of the money came from the Initial Coin Offering, which was held two years ago, but some came from venture capital later on. Most of the money has been used in the development of the platform and in related events aimed to bring awareness to the project.

Unfortunately, the future of this project is far from certain. While the management is sure that the product is innovative and will bring millions in profit, the truth is that most startups end up dying after a few years.

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Author: Daniel W