NHCT ICO Review

johnthedon

Website: https://www.nhct.io/

Whitepaper: https://drive.google.com/open?id=1GAqoyOxEKgz8CbXUNw7g0HTh95VpvLh7

About NHCT

NHCT is a total health management platform that is built on the philosophy of preventive rather than reactive medical care. It uses blockchain to counter systemic issues that plague healthcare of today like high costs, data fragmentation & data security.

NHCT uses Blockchain to create a global, decentralized health & wellness ecosystem. Introduction of a distributed ledger helps NHCT facilitate:

Enhanced Data Protection;
Frictionless Data Exchange;
Data Integrity by the use of smart contracts;
Incentivized Engagement using Tokens.

Features

NHCT has an innovative 3-tier token architecture that incentivizes users to stay healthy and fit. Depending upon their involvement, users get either Wawa, Warma or NHCT, which can then be used to buy health services like gym etc. This creates a virtuous cycle for all the participants in the ecosystem.

NHCT TOKENS: A Three-Tier Token Model For “ Proof Of Total Health”

The NHCT ecosystem will be powered by three tokens viz, Wawa, Warma and the premium NHCT tokens. The Wawa tokens can be earned depending upon the calories burnt and the payout rate of Wawa will be customized for every individual based on their health condition. The Warma tokens work as the Wawa tokens but with a difference that users have to provide for social evidence for the activity they participated in to achieve the calorie burn. The premium NHCT tokens will be used as the de facto currency within the ecosystem and they are fully transferable and exchangeable. These tokens will be listed with popular cryptocurrency exchanges. Moreover, to incentivize the preventive healthcare activities and encourage users to participate in those activities the Wawa and warm tokens earned on the platform can be redeemed for premium NHCT tokens. The users can spend their acquired NHCT tokens at any partner Health and Wellness Providers offering Hospital/Clinical Consultation, Medicine and Refills, Gyms and Fitness Spas and more within the ecosystem.

Technical Info

Hyperledger manages all different entities, their roles and proprietary algorithms for healthcare management & prediction. Public Ethereum blockchain for managing NHCT utility tokens. Hybrid storage management architecture based on data partitioning with IPFS, DDMS and Blockchain native stores.

Challenges in Healthcare:

With a growth rate of approx. $300 billion annually, the global expenditure on healthcare is projected to reach

$8,700 billion by 2020. Amidst this exponential growth, the industry is facing the following fundamental

challenges. These challenges can be broadly classified into two buckets, viz. systemic and technological.

Addressing one without addressing the other would be futile.

Advantages:

The NHCT project is more than an idea as they have already been operating for past three years and have a significant user base with their app witnessing over 75,000 users over the past 3 years.
Their model has proper use of blockchain technology as it will very likely to charge up their entire business model and also provide it an edge over the competition.
The healthcare market is huge and the preventive healthcare remains largely unexplored. Bringing in technology at this level in the healthcare sector can make NHCT a leading enterprise.
The social capital that this model would earn cannot be underestimated as it is actually helping both the medical practitioners and those seeking their services.
They have already got recognition with the prestigious HULTZ prize and have raised $1 million back in 2014.

NHCT Ecosystem: Bringing Medical Practitioners, Patients, Insurance Companies And Other Stakeholders Together

The NHCT App acts as a platform that will foster meaningful engagement between all the stakeholders involved in the caregiving process. “The system will allow for peer to peer messaging between users, direct and instant communication between patients and providers on a one-to-one basis, access to support groups and clinicians, and allows patients to have access to their own health data without the fear of dissemination to unknown third-parties. Further, users earn tokens for engaging in any number of activities that promote and support the users’ health.” Moreover, the NHCT ecosystem is based on two layers of blockchain — based platform: a hyper ledger for managing and storing the confidential healthcare data and the ERC20 NHCT token that will facilitate the engagement between the members/users in the ecosystem.

NHCT ICO Details

To develop the ecosystem NHCT is launching an ICO. They have successfully concluded their ICO private sale starting August 2018. The total number of NHCT tokens to be created is fixed at 1 Billion tokens. A total of 35% of the tokens created is made available for sale. The minimum funds to be raised ie the soft cap is fixed at $1,000,000 and the hard cap at $9,000,000. There is a KYC requirement to participate in the token sale and the whitelisting process starting 1st September will take place until the end of September 2018.