The company uses a permissioned blockchain to streamline information sharing in the health industry, ensure the security and integrity of important medical data.
SimplyVital Health, the Connecticut-based company pioneering a new paradigm for information sharing in the medical industry, is extending its token pre-sale in the wake of the recent resolution of the bitcoin fork drama, and to allow further prospective partners the opportunity to explore its business model and Health Nexus platform as a result.
SimplyVital Health co-founder and CEO, Kat Kuzmeskas, explains:
The cryptocurrency world has been held in a state of perpetual uncertainty over recent months, as a series of controversial forks have threatened to split the community and network’s value.
There are a number of potential partnerships for Health Nexus that we are pursuing – as well as a large number of individuals and institutional players in the wider crypto world – who have been waiting for a resolution before making their next move. Now that the SegWit2x question has been settled, we are optimistic that we’ll be able to initiate further partnerships and continue to attract investment. In addition, many potential contributors expressed interest and excitement in Health Nexus and they want to continue conversations before participating, so we want to honor adapt to those requests. We’re very pleased that confidence has returned to the market and have taken the decision to prolong our pre-sale to enable us to explore these opportunities.
Medical Data on the Blockchain
SimplyVital Health (SVH) was founded to overcome the tensions that exist around data sharing in the medical industry. Whilst ensuring reliable access to patients’ medical information is critical for the best outcomes, this data is also highly confidential and its movement subject to stringent regulation. The result is that patient health can become an unintended casualty of data protection law.
Health Nexus, SVH’s flagship solution, uses a permissioned blockchain to store and transfer data between nodes. Unlike bitcoin, Ethereum and other open blockchain platforms, every node or ‘miner’ that maintains the network must be validated, operating within the framework of HIPAA compliance. This means that while the system is highly secure and fit to deal with private healthcare data, patient information can move freely as required, without concerns about unauthorized access. Health Nexus can be integrated with existing healthcare systems for lower on-boarding costs.
SimplyVital Health is holding a token sale for Health Cash (HLTH), the blockchain token that will power the system by providing rewards to the miners who maintain the network. This will also serve the purpose of attracting newcomers to the ecosystem, helping it to grow and reach critical mass quickly and bringing the exceptional benefits of blockchain technology to a wide range of healthcare providers, and provides additional revenue stream opportunities to healthcare partners.
The SimplyVital Health pre-sale has been extended until 20 February, with the main sale starting on 22 February. To find out more or participate in the token sale, visit https://tokensale.simplyvitalhealth.com/.
Images courtesy of SimplyVital Health
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