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What the New Force in Healthcare Means to Ethereum

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Call them the three new amigos of healthcare: Bezos, Buffett and Dimon shook the worlds of technology and healthcare on Jan. 29.  Together they are forming a separate company to do battle with high patient healthcare costs and unacceptable levels of patient satisfaction.  Everybody who read their cryptic announcement is speculating about who will be the winners and losers.  

My vote is for Ethereum and maybe a few of the healthcare apps that are mounted on the Ethereum platform.  As risky as investing in any cryptocurrencies so far this year, here is why we think Ether holds the least risk in the healthcare reformation.

Healthcare: The Nightmare We All Know

We have all heard the disheartening figures. Healthcare in the United States is a disaster consuming over $3.5 trillion last year.  That is just under 20% of all goods produced in this country.  According to conclusions of the Peter G. Peterson foundation, the US spends more than twice any other nation but the outcomes are often no better.

That medical costs are out of hand is no surprise.  What is shocking is that in spite of things like the Affordable Care Act, costs continue to spiral faster than just about everything else increasing about twice as fast as the overall rate of inflation.

Healthcare costs dwarf even the mammoth Defense budget at less than 4% of GDP.

Working Against The Odds

So far the efforts of Washington to make changes in the system have failed.  That is why the recent joint announcement by heavy hitters, Jeff Bezos, Warren Buffett and Jamie Dimon is interesting.  Among their three companies: Amazon, Berkshire Hathaway and JP Morgan Chase, there are nearly a million employees.  The plan is for top executives from each to form a new healthcare company using technology to improve patient outcomes while reducing costs.

You can bet any investment benefits will accrue first and foremost to company employees of the three amigos.  And of course, there is no guarantee  any real benefits.  But success could create opportunities that go beyond our ability to visualize.

As noble as the announcement sounded, very little detail is available and all parties in the new venture caution against expecting a quick fix.  That did not stop a selling wave in the leading healthcare insurers. This can only be interpreted as respect for the creative accomplishments of these three corporate leaders.

Ethereum Could Have A Quick Impact

It would be wise to view any new plan to need a development window of five or even ten years to be judged on its own merits and the challenges to success are formidable.  However the power of these three executives combined with some of the most obvious flaws in the current system, make the solution an attractive proposition for Ethereum and its smart contracts. Here is why.

Ethereum is not a solution to healthcare, it merely provides the plumbing for others.  That translates into potential demand that could develop even at the earliest stages. And then there are all those apps already using the Ethereum platform.

The Advantages of All Those Apps

The present practice of patient record keeping is part of the healthcare disaster.  For a long time patient privacy issues have encouraged medical records to be “siloed” in many different locations.  Blockchain technology offers a compelling solution to consolidating patient records without loss of privacy.  This is what Ethereum is all about.

The open source nature of the Ethereum platform offers a field day for virtually any medical app that could supplement the new company. That means more demand for Ether that drives the Ethereum platform.

Celebrity Endorsement

One line of thinking that makes sense is that major corporate backing of technology will bring much deserved awareness to the numerous startup companies whose apps provide solutions like video consultations with doctors that save time and cost.  Apps with smart contracts hold the potential to speed medical reimbursement.  

Federal and state governments that play a central role in reimbursements are ill equipped to evaluate new payment systems. But with an endorsement like Amazon, Berkshire Hathaway or JP Morgan, a new paradigm in social media takes place.

And Then Consider The EEA

Founded a year ago, the Enterprise Ethereum Alliance already boasts a membership of about 300 companies of all sizes and that includes JP Morgan.  The EEA mission is to bring together Fortune 500 companies with blockchain industry experts.  In addition to its membership, JP Morgan gained experience with Ethereum through a consortium of  Wall Street trading firms that tested the technology uncovered savings totaling billions.  If you want to become best friends with any corporate CEO start with saving them money.

Fact Or Fantasy

Some readers may look at these possibilities for Ethereum and scoff simply because of the very stubborn problems in controlling healthcare costs.  You can not be blamed if you fall into this camp.  At the same time with the sharp crypto price correction since mid December perhaps you can afford to look beyond the emotion of present day traders.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 114 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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Altcoins

Ripple Price Analysis: XRP/USD at Risk of September Bull Run Being Completely Deflated

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  • Ripple’s native token XRP is at large danger of totally giving back the big September bull run gains. 
  • XRP/USD is capped to the upside at $0.6000. Vital near-term support seen tracking from $0.4550-0.4350.

Ripple’s native token XRP price has further been sent down to the burning south. This comes after the chunky and excessive bull run observed at the back end of September. XRP/USD had run higher by some 190%, from lows of around $0.27. Bulls managed to see a spike up, just short of $0.8000, within the early $0.7900 territory. Since this initial big trek to the north, up to mentioned highs, the price has dropped around 40%.

September Recap

There was not one catalyst behind the rocket move of around 195% in September for Ripple’s XRP. A few developments are worth recapping. Fintech heavyweight in Japan, SBI Holdings, announced their plans to launch a Ripple-powered mobile payment application known as MoneyTap. Elsewhere, London-based firm TransferGo announced they are using Ripple’s blockchain. This will be to facilitate digital currency transfer from Europe to India.

Furthermore, the litigation between R3 and Ripple Lab announced that they have reached a settlement of all outstanding litigation between the parties.  To top all the above, there was huge anticipation ahead of the xRapid product launch. This is now live, available for commercial use, allowing both individuals and businesses to access instant liquidity and low fees, using Ripple’s XRP. This trumps the traditional process of a 2-3 day wait. A sense of buy on the rumor sell on the fact was definitely observed here.

Technical Review

XRP/USD is on its journey south, looking to completely give back September’s run higher. Starting off with resistance, as can be seen the price upside has been capped at $0.6000. There hasn’t been enough momentum since the exhausted rally, to clear this chunky supply cap. Firm rejections have been observed at the mentioned resistance block since the bull run. If life kicks back into the bulls, they will need to comfortably settle around $0.7500, before then conquering $0.8000. Ripple’ XRP is still a long way away from of reclaiming the big psychological $1.00, with much supply even seen within the early to mid $0.9000 region.

XRP/USD 4-hour chart

Given current downside momentum, near-term support is now eyed from a range of $0.4550-0.4350. This is a demand zone, having proven to be the case during the fall on 25th September. The price managed to receive a bid within this area, moving back towards the $0.6000 resistance, before again faltering. Should the demand zone fail to hold, there will likely be a very fast move, back down to 0.2700-0.2500 area. XRP/USD had been within consolidation mode, for much of September, it was floating around this territory.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 32 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Companies

Crypto Market Development: Goldman Sachs-Backed Circle Acquires Crowdfunding Platform

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  • Goldman Sachs-backed Circle has announced it has acquired SeedInvest. The fee has not been disclosed.
  • SeedInvest are a crowdfunding platform. Circle are planning to expand SeedInvest’s offerings to support cryptocurrencies.

The Goldman Sachs funded crypto start up Circle, are really stepping up their dominance within the market. Over the past two days, there has been a couple positive developments from their camp. Firstly, the firm has acquired crowdfunding platform SeedInvest. Elsewhere, they have added a new feature for their app, known as Collections.

Circle Acquires SeedInvest  

Circle Internet Financial is acquiring SeedInvest. Should all be approved by regulators, the company are targeting the strategy of delivering a token marketplace. This will enable businesses as well as individuals to raise capital and interact with investors using open crypto rails and infrastructure. Circle will want to make it easier for startups to issue digital coins. The scope also to facilitate customers to trade a larger variety of digital tokens. A full statement can be observed by their latest blog.

Collections

Another development from Circle, coming in the form of adding a new feature, is “Collections”. This will allow its users to invest in a particular theme. The following themes offered are “Platforms, Payments, and Privacy.” Users will be able to invest in an entire theme, with a single click. Providing a simplified way for investors portfolio be focused on multiple coins. Full coverage was posted within a blog from the company.

Market Review

These developments continue to cement the huge improvements being observed across the market. The sky appears to be the limit, as the digital currency sector does not stop having its infrastructure solidified. Updates such as the announcements from Circle, demonstrate capabilities are not limited. See previous acknowledgement points of the sector taking big legitimizing steps, in a prior Litecoin article, under the section Big Infrastructure Improvement In The Crypto Market’.

The one thing that will likely continue to slowdown the market is regulation. This will have to be the case for the foreseeable future. As revolutionizing as the industry is, regulators must remain cautious for the sake of all parties involved. Their concerns remain about the safety of investors that want to participate in the marketplace as well as ensuring that anti-money laundering protocols are maintained. In the long run, it is in the best interest of all those involved. Besides all of this, there is still remains some way to go for complete a complete solid system, in comparison to the traditional financial system.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 32 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Bitcoin

BlockState Interview Part One: Institutional Investment Framework Story

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The mainstream media narrative has shown an uncompromisingly negative bias towards institutional crypto investment of late and it only seemed fair that we got in touch with some people who have professional expertise in the field.

BlockState is a platform that aims to deliver a modular blockchain-based legal and technological infrastructure for financial institutions which combats the low interest and return rates offered by traditional asset classes.

We spoke to the three co-founders: Paul Claudius, Michael Weber and Samuel Brack regarding the nature of the project. In addition to how they met and how it all started, their current status, and their plans for the future.

BlockState in Brief

On their website, the BlockChain team states that their intention is to provide “a technological and legal bridge between blockchain technology and financial markets.”.

It is an infrastructural platform upon which organisations within these sectors build or inform their own solutions – and is unashamedly focused towards providing products for the institutional investment crowd.

On the One Hand…

When asked about the ethics, technological approach and modus operandi of BlockState, Managing Director Paul Claudius was eager to provide a comprehensive, dichotomised summary.

“On the one hand we are creating the basis for institutional investors to access the digital assets markets.

“Investment banks can’t simply open a wallet on their phone and start buying crypto-assets. They need a range of services and processes in place to make sure that they abide by regulation and their internal requirements.”

The BlockState consensus is that there are insufficient frameworks in place to mitigate the obstacles faced by companies unfamiliar with the many intricacies of the crypto-space at present.

This is not to mention the prohibitive nature of the past progression of technological and regulatory standards, which are largely non-standardized.

… And On the Other

The ‘other hand’ to which Paul refers to is the lack of blockchain or cryptocurrency integration at product or service levels within the institutional market.

For this reason: BlockState posits the second half of its service as an offering to:

“help institutions leverage blockchain to improve their existing processes… helping them tokenize financial products and using smart contracts to govern their execution… [to] save massive amount of resources while making their systems more transparent and efficient.”

In theory all transactions will be immutably recorded on the blockchain, which will ensure that all parties involved can access this data and that all transactions will be processed quickly.

Performance can distinguish a winning cryptocurrency from a useless dud.

The Three Musketeers

In addition to Paul Claudius, we got the opportunity to speak to fellow founding members Michael Weber and Samuel Brack.

Paul specialises in Strategy and Business Development, whilst Michael’s role is to take the lead on Product Development and Project Management duties. Their specialisms are Strategy and Business Development, and Product Development / Project Management (respectively).

Samuel Brack is the cryptocurrency brains of the operation and performs something of a hands-on position, donning the title of Chief Technology Officer. He sits in a more hands-on position, acting as Chief Technology Officer (CTO) for BlockState.

Before BlockState

Paul recalls that the executive leadership team had “all already knew each other” before the BlockState project even began.

Whilst he and Michael Weber had made acquaintance whilst studying together at the ESPC Europe business school, Michael had met up with Samuel Brack as they were co-founding partners on a prior blockchain based project entitled ‘Goodcoins’.

Whilst they have sold their stake in Goodcoins since, Samuel at least considers his time on the project to have equipped him a knowledge which has been brought forth to BlockState.

Beginners Luck?

On a more personal level: Paul Claudius described his first interaction with the world of cryptocurrency as being the moment in 2012 in which a friend had recommended Bitcoin to him as a potential investment.

He has not disclosed exactly how much Bitcoin he purchased in 2012 but if story is true, considering the token’s contemporary value of $13: Paul would have made a profit of a whopping 51614.53% on his investment. No matter the amount invested.

Products, Pains and Peers

Michael Weber (product lead and project management professional) broke down the trio of primary services / product lines that BlockChain focuses on as being “asset management, dept capital, and derivatives” – with a perceived overlap between the three.

This is as well as the ability for tailoring packages for clients from these tested specialisms.

If these products names appear distinctive yet simple, then you would be correct. Of course, this is one of the main objectives of marketing – however it does not help a company to distinguish itself from its peers.

“While most focus on very specific needs, our infrastructure integrates solutions at every level of the financial product lifecycle, from issuance to reporting always with a view to improving current products on the market.”

This isn’t an easy task however, with obstacles to full-automation rearing their heads alongside undesirably long payment clearance times,

“Some of the major pain points specific to the asset management and derivatives markets and resource consuming operations are settlement and clearing, which can take up to 30 days… with manual processes like getting signatures and manual transactions.”

With a Little Help From My Friends

The three musketeers of BlockState with whom we have already spoken are supposed to possess their own unique-yet-compatible inventories of skills and experience. If the team has any luck it will prove a winning combination.

Three men cannot rule an empire alone however and as the popular idiom goes: successful leaders fill the gaps in their expertise by surrounding themselves with knowledgeable advisors. Following this, BlockState boast a roster of advisors who may just fit the bill for now.

They include (according to Paul):

  • “Patrick Storchenegger, co-founder of the Ethereum Foundation in Zug, is our advisor on legal questions. He brings years of experience from blockchain, capital market law and international tax and business consultancy…
  • “Andrea Voinea, who helped to structure the first Gold Exchange Traded Fund, is a seasoned professional from the asset management market…
  • “Ludwig Schrittenloher, who spent nearly six years at Credit Suisse, offers a breadth of knowledge in DCM and structuring…
  • “[and] Martin Schröder, currently a Director in an investment firm, is an expert in derivatives and also very knowledgeable in capital markets and structuring.”

Estimated Time of ETN

Looking not to the past or present, but forward to what the future may hold for BlockState (or at least, what they plan to happen), we asked Paul Claudius some closing questions in an attempt to reach some conclusions on what may come next…

“At the end of September, we will launch the CTF15 Exchange Traded Note, and it will also be listed on a major European Stock Exchange – to be announced soon…”

An Exchange Traded Note (or ETN) is “a type of unsecured, unsubordinated debt security”

Final Words

Perhaps more exciting even is the fact that the team are currently in the process of preparing the launch of an ‘Equity Token Sale’, issued as part of the company’s equity in a public sale.

According to Paul, it will be “one of the first companies ever to tokenize their equity in a fully regulated and compliant manner, driving the adoption of security tokenization in the financial space.”

Paul, Simon and Michael parted our discussion by asking to remind readers of a forthcoming event at which all three will be attending: the Delta Summit in Malta, which takes place from October 3rd to the 5th.

Stay tuned for the second part of this interview coming soon: in which the team will deliver their commentary on recent news, the present situation; and future predictions on the market and industry.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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