An Insight Into The Collaboration Between HealthBlocks and IoTeX
Our aim at HealthBlocks is to empower people to unlock the full potential of their health data. We do this by giving users an ecosystem to valorise their data as they see fit.
To implement this solution, we had to find the right partner providing the blockchain technology to build our dapp. We've achieved this by collaborating closely with IoTeX, one of IoT's leading blockchain technology providers. Its aim is to connect real-world data with the blockchain, enabling us to run our solution.
Nasdaq recently acknowledged IoTeX as one of the top five cryptos to invest in for the future of healthcare, highlighting the role its technology is playing in improving connectivity in this field. It currently provides two devices - Ucam, a blockchain-encrypted security camera, and Pebble, a device that enables secure tracking and monitoring.
So, how does our ecosystem benefit from this collaboration?
Health data is a crucial element to helping increase the healthy human lifespan. This is one of the critical benefits of this collaboration. Together, we can disrupt the preventive healthcare segment by giving people control over their health information and improving the exchangeability of that data.
This will help our aim to improve preventive healthcare by accelerating innovation and research, thus creating algorithms that provide better insights into people's health.
Our ecosystem is composed of four elements:
● Data generation
● Data storage
● Data exchange
● Data analysis
User health data is generated from wearables such as smartwatches and Fitbit. IoTeX then enables us to securely store this information to be actioned later as users see fit.
They have complete control over how their data fits into this ecosystem. Some might use it for personal gain, thus keeping it private from external sources. On the other hand, users can exchange their data with third parties and get rewarded.
Currently, one of the hurdles we're facing is using reliable and safe devices, as manufacturers retain all information and can benefit from it accordingly. However, the collaboration with IoTeX will enable us to manufacture our own secure health monitoring devices that give users full data ownership.
This can be achieved through their innovative Pebble solution. This first trusted tracking device enables users to take complete control of their data. It's an excellent precursor that allows us to create trusted medical devices.
A focus on preventive healthcare and data ownership
We've grown to be one of the leading health projects in blockchain and the IoTeX ecosystem. The collaboration has enabled us to build our dapp on a secure, decentralised blockchain platform that gives users complete control over how their health data is handled. This is an essential element of our philosophy, as one of our core beliefs is that health data should remain under the sole ownership of the user.
Transactions in our ecosystem are done through HEALTH tokens, which are mined when users reach health targets. These can then be used to pay for health services. As a result, users are not only in complete control of their data; they are incentivised and rewarded for getting healthy.