The global market has been in constant turmoil for almost two years since the start of the pandemic that thrust the world into a maelstrom of events and changes that have wreaked havoc on people’s ordinary lives...
October 8, 2021
The global market has been in constant turmoil for almost two years since the start of the pandemic that thrust the world into a maelstrom of events and changes that have wreaked havoc on people’s ordinary lives.
But apart from remote working and the shattered format of ‘normal’ life of days gone by, a much more important change has taken place, whose impact can best be traced in the headlines of leading financial newspapers.
The titles that media outlets and channels bristle with speak of important changes that are taking place in the global economy, more specifically – the digital economy.
Leading states are starting to realize that a revolution in the use of funds is dawning as cryptocurrencies are starting to take hold of average people’s sentiments.
Brandishing financial privacy, the convenience of use, a broad range of use cases, vast trading opportunities, and a myriad of other applications in the broader decentralized financial market at large, cryptocurrencies are affecting the perception governments have regarding their legal status.
In Some Cases
A bright example of such changing attitudes can be found in China, whose state authorities recently deemed all cryptocurrency transactions illegal. The country’s government stated that the cryptocurrencies like Bitcoin are not backed by any government or bank and that they cannot be used as legal tender.
The attitude of the Chinese authorities towards Bitcoin and cryptocurrency mining, in general, has never been too soft, unlike many other states that welcome digital currencies and their underlying technologies.
Still, some states are still adhering to the strict Chinese model, as does Turkey with its recent ban on all cryptocurrency exchanges in the country.
The Rest of The World
Despite the repressive mood that often dominates the headlines of cryptocurrency regulation, the majority of countries perceive digital currencies rather positively and do not impose outright bans.
For instance, the US, Canada, and the EU are adopting neutral stances on the decentralized industry, regulating only the activities of crypto-issuing projects that could be in violation of securities market and general legislation requirements.
There are no bans on crypto operations in the West, and most countries there are eyeballing the possibilities of issuing their own state, fiat-backed cryptocurrencies in the form of CBDCs, or Central Bank Digital Currencies.
Russia, Turkey, Britain, and other countries, including China, have announced the development or fielding of such assets, namely the crypto Ruble, the crypto Lira, so-called Britain, and the crypto Yuan, respectively.
Across the Atlantic, EL Salvador recently became the only country in the world to approve the circulation of Bitcoin as legal tender. In June of 2021, the country’s Congress approved a proposal by President Nayib Bukele to formally adopt Bitcoin as a form of payment, launching an ambitious program of Bitcoin stockpiling and distribution among citizens to dedicated digital wallets.
The history of money dating back millennia teaches us that it takes time for any kind of fundamental changes to take place on the governmental level and the same is currently happening with cryptocurrency adoption.
The DeHealth project, which places immense emphasis on the use of cryptocurrencies, is taking an important stance on the matter by fostering a positive attitude towards cryptocurrencies worldwide for the ultimate goal of achieving governmental support and Public-Private Partnership opportunities.
Since governments are the gatekeepers of the state’s financial world, ensuring the functioning of Public-Private Partnership programs is the key to streamlining the adoption of cryptocurrencies among citizens, who trust the state and its judgment in the implementation of various initiatives.
If Public-Private Partnerships are established with cryptocurrency projects, the use of digital currencies will become mainstream.
State support. Partnership With eHealth
Oleksandr Yemets, CEO of “EZdorovya” with Anna Bondarenko, CEO of “DeHealth”.
The privacy, integrity, and security of patient data are important issues that have been raised in light of the slew of hacks and leaks that have affected databanks in recent years and resulted in the dissemination of private data among malevolent entities and third parties.
In addition, the storage of personal data by IT giants under the pretext of application of moot user consent forms is paving the way for the loss of privacy and ownership of user data. However, the application of decentralized systems for data storage may soon change the situation.
On September 20, 2021, the DeHealth project signed a memorandum on the Public-Private Partnership with eHealth Ukraine. eHealth is an electronic healthcare system that provides the exchange of medical information and the implementation of a program of medical guarantees for the population of Ukraine. The Ministry of Health of the country is regulating the implementation of eHealth at the regulatory level.
The National Health Service of Ukraine has also entered into contracts with medical service providers that analyze and use data to predict the needs of the population for medical services. The goal is to develop a program of medical guarantees, establish tariffs and monitor contracts, and make payments for medical services on the terms of the contract.
The initiative of establishing partnerships with government agencies is a major step forward in solving the issues faced by patients in the medical industry. The blockchain basis of DeHealth provides guarantees on the quality of the product, while state support ensures its long-term application potential.
The development team at DeHealth is confident that the partnership is the first step taken by the project to access the medical markets of other countries on the basis of the same strategy.
The current medical industry is in dire need of projects on the basis of Public-Private Partnerships focused on efficiency. Such an approach gives a series of important advantages, especially from the point of view of the development of the digital side of the project.
In the case of the Public-Private Partnership between DeHealth and eHealth, the parties have agreed on the following:
The given partnership has highlighted the possibility of a decentralized industry project’s potential in the state sector with a clear application of blockchain and cryptocurrency technologies.
By offering to solve real problems faced by real people, through its partnership with eHealth, the DeHealth has effectively partnered with the Ukrainian state and proven its reliability as an enterprise.
This opens up immense opportunities for practical implementation, as 30,000,000 citizens will get access to DeHealth, while the project will be receiving constant streams of anonymized datasets to perfect the AI and build a transparent market for medical data.
The contribution of the involvement of a wide range of nongovernmental organizations, individual users of technical equipment into the National HealthCare System, and other parties gives the project an immense support basis. It also gives eHealth a possibility to elevate the national healthcare system to a new level.
Among the main highlights of the agreement between the two parties is the tokenization of patient data in a format that would allow individuals to be the sole owners of their personal data and extract value from sharing it with third parties.
The eHealth project and the government of Ukraine both support the use of cryptocurrencies within the framework of the DeHealth project, which tokenizes patient data and provides the underlying infrastructure for its secure storage and transmission.
The development and launch of a chatbot acting as the MVP of the DeHealth AI are also part of the agreement. Dubbed Dr. Umka, AI is a chatbot that helps collect anamnesis, monitor health and educate both patients and doctors on issues of maintaining health and longevity.
The Value of Public-Private Partnerships
Despite the mounting number of digital solutions on the decentralized market that have permeated into a variety of sectors, the state is still the main provider of public services, making it the go-to solution for the overwhelming majority of citizens in any state. The availability of Public Private Partnership programs is a gateway that can generate value for both the state and decentralized projects operating in the services sector for the ultimate beneficiaries being the citizens themselves.
By entering into a Public-Private Partnership, a project will essentially be legalizing itself on the state level and offering its services to citizens, leveraging the possibilities of the underlying technologies.
Given the growing adoption of decentralized services and the strive of numerous users to legally connect such services to their day-to-day activities in the public sector, such partnerships can generate value for all parties involved, especially states that will be positioning themselves in a technologically progressive and convenience-fast-tracking light.
From the CEO of eHealth Ukraine: “The medical field, including the commercial sector, requires the availability of researches and analysis, data storage is not an only existing problem. eHealth is interested in exploring technologies for the availability, security, storage, and management of medical data.
The partnership with DeHealth covers many important healthcare issues: how to tune in medical services system and make healthcare accessible to everyone”.
The modernization of the medical industry has gained significant traction and relevance in light of the pandemic, which has highlighted the inefficiencies of many state medical systems across the world.
The need for diagnosis COVID-19 as early as possible and identifying the full medical history of a patient for identifying aggravating circumstances has thus revealed the need for full transparency and the broad availability of medical records.
With IT giants dominating the information sharing and storage space, it is vital to start making the transition to decentralized storage to ensure the safety and security of sensitive personal data, such as patient information.
The partnership between DeHealth and eHealth is an important step in the application of such decentralized methods of data storage with the state acting as the off-ramp for broader adoption among the population. The DeHealth project is determined to provide the necessary solutions that states can leverage to modernize their medical systems for the benefit of their citizens.
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