The global healthcare market is predicted to reach $8.7 trillion by 2020, with individual health data under increasing demand from research institutions.
Bowhead Health could revolutionize personalized health by making preventive health diagnostics and solutions more accessible to the end user. The Bowhead platform runs on their patent pending Anonymized Health Token, which gives individuals the option to share anonymized health data while retaining full control of their information via smart contracts. Compensation paid by research institutions would be split among users and AHT holders on a 70/30 basis. With health data now amongst the most valuable information resource on the planet, Bowhead Health is well positioned to become leaders in this lucrative and fast growing sector.
Multi trillion dollar markets tend to attract large organisations vying to control and centralize data for their own benefit and profit. Other cryptocurrencies aim to unshackle the individual from these practices, yet, even in a field as important to quality of life as healthcare, the problem of top-down data control persists. Healthcare providers, pharmaceutical companies and technology firms all profit hugely from patient data. Now, a team of medical doctors, scientists and robotics engineers based in Canada have launched a new ICO proposing to not only give the individual control of their medical data, but also to compensate them for any data they choose to share with research institutions.
The Bowhead dispenser is the size of a Nespresso machine, and comes with an expected price tag of $199-$299. The Bowhead device is able to measure a user’s biometric data through a small blood or saliva sample. Licensed doctors make recommendations from these readings allowing the hardware unit to dispense a personalized selection and dosage of supplements and medicines. Signals are transmitted securely through Blockchain (the project uses a Waves-Ethereum hybrid token) with an accompanying user friendly mobile app due later this year. Bowhead Health envisions “Google Drive style” permission settings for different categories of users’ personal health data. While the platform is still in development, Bowhead has multiple patents pending, a partnership with an FDA approved manufacturing facility and a wealth of experience in bringing accredited products to market.
Bowhead’s AHT token allows 70% of research fees to be distributed to users with the other 30% going to token holders. Initially, research fees will be paid quarterly but with further development smart contracts will enable instant compensation. Research fees will be collected in the user’s Bowhead wallet with plans to accept BTC, ETH and AHT. Holders of over 50,000 AHT will be able to run a HIPPA compliant node which is supported by Medstack and will be offered rewards and incentives for helping to uphold the Bowhead ecosystem.
The company has aspirations to adapt their technology into kiosks with solar panels and anti-vandalism systems. With further development, Bowhead believes that a Bowhead kiosk could service small villages and communities in developing and third world countries. The Bowhead mobile app is due to launch in fall 2017 with the first Bowhead hardware trial devices shipping in the second quarter of 2018. Bowhead’s ICO is live until August 31st, with lot 1 of their crowdsale already complete.
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