ICO Analysis: Solve.Care
The stated mission of Solve.Care is to “Make health care and benefits programs work better for everyone.” Solve.Care aims to improve security and privacy while also improving access and accountability in a manner that current centralized systems cannot accomplish.
Solve.Care’s platform intends to vastly improve the administration of benefits and the coordination of care. By using blockchain technology, the company seeks to reduce the costs within the current healthcare system by replacing systems which are duplicated while automating many processes that are currently being done manually. In turn, this will greatly reduce fraud, abuse, and waste by ensuring accountability and transparency.
According to the whitepaper, the platform will coordinate and simplify the interactions between healthcare providers/facilities, pharmacies, government agencies and insurance companies on a global scale. Every transaction that happens in Solve.Care is immutable, instantly verifiable by all authorized parties. The platform will also allow everyone to have access and control over all their information and actions in a simple and understandable manner. They can make appointments with a touch, share records with a swipe, compare prices, utilize all available discounts, manage prescriptions and interactions, view personalized care information, coordinate care among providers, make accurate payments and manage their benefits.
Building a community of developers, partners, and resellers to continually expand the platform and apply collective intelligence, Solve.Care believes it can revolutionize the healthcare industry. With the latest advances in blockchain technology and our experience in healthcare coordination, health and human services and healthcare benefits, Solve.Care believes it has designed a platform that will redefine healthcare for individuals, employers, providers, administrators, insurers and government agencies around the world.
The integral components of Solve.Care:
- Care.Wallet: designed as a blockchain app to help patients and providers to communicate and manage care. Care.Wallet houses Care.Cards and Care.Coins that put the consumer in full control over information and actions.
- Care.Cards: built in applications inside the Care.Wallet. Care.Cards are equivalent to apps in an app store that can be downloaded from the Care.Marketplace. builds intelligence into the platform to automate healthcare administration, effectively coordinate care between multiple stakeholders, handle complex billing transactions and deliver personalize information to the wallet holders.
- Care.Coin: the payment token used within Solve.Care. Care.Coin can remove a lot of the risk and reduce cost from the 3rd party
payment model by providing transparency, immutable replay and accountability which will eliminate the majority of fraud, abuse and waste.
- Care.Vault: designed to organize and manage the data within the Solve.Care platform and from external sources as well as manage access.
- Care.Protocol: connects and synchronizes wallets, cards, and coins between stakeholders, to coordinate care and automate transactions in a revolutionary new approach. Care.Protocol handles all communications and synchronizes wallets, cards, coins and client systems. With the Care.Protocol there isn’t a need for a centralized record keeper.
Solve.Care seeks to provide the following benefits to individuals:
- Give you complete control and immediate access to all of your healthcare records and the ability to give access to anyone you choose instantly
- Make all of your medical history secure without anyone able to access your records without your permission
- Give you access to how much healthcare procedures will cost beforehand
- Make it nearly impossible for fraud or overcharged by your healthcare providers
- Make it so that you never need to call your insurance company for verification
CAN is an ERC20 token with a fixed supply of 1 billion. Currently, CAN is in presale with a 15% discount with a price of $0.085. The public Token sale starting on March 31st will have a price of $0.10. There will be 350 million tokens available for sale, with a soft cap of $3 million and hard cap of $29.5 million. All unsold tokens will be burned. Visit the following link for information regarding the token sale.
The token allocation is as follows:
- 35% Pre-sale and ICO
- 20% Community
- 18% Team (Vested schedule of 36 months)
- 15% Growth & Acquisitions
- 9% Long-term foundation budget
- 3% Token sale expenses
The Solve.Care team and advisors consist of more than 50 industry professionals that come with a wealth of experience in healthcare, blockchain, and business. A complete list of the team and advisors are listed on Solve.Care website along with their Linkedin profiles..
The team is led by Pradeep Goel, who is also CEO of Ukrsoft (acquired by Solve.Care Foundation), CEO of EngagePoint, Inc. and CIO of Noridian BlueCross BlueShield of North Dakota. Pradeep Goel has built four healthcare IT companies and has been at the top of INC500 fastest growing companies lists multiple times. Pradeep is also on the 100 most promising entrepreneurs worldwide, according to Goldman Sachs CEO. He has worked closely with insurance companies, employers, benefit administrators, and multiple U.S. government projects related to healthcare reform such as Medicaid, Children health insurance, Medicare, SNAP, TANF, mental health and more.
Notable project advisers include:
- Donald Upson – Founder and Managing Partner (Upson Technology Group), President of Cybrforce, COO of UNICOM Global, Secretary of Technology for Commonwealth of Virginia
- Jack Friou – Senior VP, Director of Government Relations at Aflac Inc.
- James Moran – served as the U.S Representative for the 8th congressional district of Virginia, former Mayor of Alexandria, Virginia
- Kostya Grygoryev – Founder & COO of Aidditive Inc, Managing Partner at MODEX Ukraine, CEO of Ukrsoft
- Andrii Zamovsky – Founder of Orderbook, Founder of Ambisafe, Founder & CTO of NoveltyLab
- Ilia Kenigshtein – Co-Founder & Chief Creative Officer at Creative Quarter, Adviser to the Lviv City Mayor, Managing Partner at Hybrid Capital
The firm is also partnered with Ambisafe, Foxtail Marketing, ARPI (American Research and Policy Institute) and Juscutum Attorneys Association.
Solve.Care has already made a key acquisition and collaborated with a major-league partner. In early 2017, Solve.Care acquired Ukrsoft, a long-standing research,and development partner. Ukrsoft has successfully addressed worked with some major clients, such as Delta Airlines, Boeing, Department of Defense and many more.
The Solve.Care Foundation has already signed on a huge customer – a U.S.-based care delivery network that will use their product as a provider of performance payments. It’s a multi-year contract with a highly reputable organization whose charter is perfectly in alignment with the Solve.Care platform and mission. This healthcare delivery organization is responsible for managing care for 250,000 families, 5,000 providers, and 200+ facilities. Furthermore, the Solve.Care coin is expected to be the first real healthcare currency that will be used for proof of service and payments between doctors and patients. With the team and advisors not fully vested for 2-3 years, Solve.Care appears to be in it for the long haul.
- Although the use of proceeds is clearly shown percentage wise in each category (sales and marketing, infrastructure and project management, etc.), there aren’t any details of how the funds will be used within the categories. -2.5
- The launch of the platform isn’t scheduled to be released until after the ICO is complete (Q2 2018). -2
- Although the CEO is highly qualified, it is unclear whether this project will have his full attention. As we highlighted in the Team section, he is currently serving in executive management positions for a number of organizations. -0.25
- A strong team of over 50 members and an impressive list of advisers. +5
- The project has already announced a partnership with a company in the United States with 250,000 clients. +3.5
- The U.S. alone spent more than $3 trillion on healthcare in 2017. With Solve.Care to target the global market, only a small percentage is needed for great revenue potential. +3
Solve.Care warrants a score of 6.75 out of 10. With drastic price increases in healthcare, Solve.Care has the potential to shine if it achieves its vision of integrating into the healthcare system using blockchain technology to lower cost, reduce fraud and increase efficiency.
- Type: Utility
- Symbol: CAN
- Crowdsale: March 31, 2018
- Price: $0.10
- Hardcap: $29.5 Million
- Payments accepted: Eth, BTC, USD
- Jurisdictions Barred from Participating: None
For more information regarding Solve.Care ICO:
Website: solve.care (Team, Roadmap, Whitepaper)
Twitter: twitter.com/Solve_Care (2350 Followers)
Telegram: t.me/SolveCare (4646 Members)
Featured image courtesy of Shutterstock.