China: Using Blockchain For Health Care Crowdfunding

On the Chinese healthcare market is busy, busy, busy. Internet giant Tencent Holdings Ltd., supplemented with the Start-up App water drop conventional insurance models in health care and are looking for investors. According to BloombergReport want to water drop over a billion dollars of investors ‘ collection, the Blockchain-research for the benefit of.


Health Care Crowdfunding as an alternative model for health insurance?

Water drops business model based on voluntary payments of small amounts to members who have received a serious medical diagnosis. Water drop will be transferred in collected Form directly to the Diseased. Infants and persons over 65 years of age are not allowed to participate. Further regulations relate to the age of the patient, as well as the Severity of your condition. Water drop employs over 1000 employees, the focus is to monitor these rules and adapt.

Similar to water drops the biggest competitor is already working on the market: Xiang Hu Bao (English: Mutual Protect), the App of Alibaba Group, already has about 55 million users in China. Both portals collect 8% Commission on withdrawals from a maximum of 300 000 Yuan (equivalent to about a 39.7 euros). In addition, approximately 50 other companies exist in the Chinese healthcare market, which offers comparable products.

Water drop would now like to automate the reimbursement system using Blockchain technology. In addition, the company conveyed according to the founder and CEO Shen Peng more recently, conventional health insurance policies from more than 50 third-party.

Health care in the most populous country in the world

The variety of Health Care Crowdfunding concepts and the active investment behaviour of large corporations inappropriate technologies shows that the People’s Republic of China is facing health challenges.

While the population is growing rapidly, chronic and severe diseases. The state health care alone is not able to keep pace with the developments. In the process, Shen sees his company as a Supplement to traditional health insurance and welcomed many participants from the market. “It reduces the costs incurred in educating the User.”

Blockchain health

It is interested in the medical industry, particularly for Blockchain-technologies, when it comes to dealing with large amounts of data. The goal of the safe storage and distribution of diagnoses and patient information benefits of decentralized solutions. Apart from data management researchers are working on a Blockchain protocol, the fake and hacker-safe verifications from drugs.

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