AtlantICO: Decentralized blockchain platform uniting medical, pharmaceutical and insurance services.

jamesndungu (61)in #atlantico • 6 years ago (edited)

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The health industry is growing at a high rate, the growth of the industry has been met by challenges such as low-quality services being delivered by doctors and health institutions, lack of medical and doctor reviews, counterfeit drugs on the market, inflated prices on health industry products and services, insurance services that are highly commercialized and fraudulent doctors. This article covers the problems and shows how Atlantico is planning on using blockchain technology to solve this problem as well as improve the health industry in general.

The health industry consists of the pharmaceutical market with revenue from drugs estimated to reach a staggering 1.5 trillion by 2021, this is the largest market compared to the medical services market which records an annual growth of approximately 4% annually.

The market growth of the health industry is mainly due to the increasing population, raise In health awareness and the affordability of drugs which is driving the demand for healthcare services and products.

The healthcare industry is healthy but needs solutions that improve the quality of service delivery and products by solving the problems through modern technology such as artificial intelligence and blockchain technology, Atlantico is planning on being one of the modern organizations working towards solving these problems.

ATLANTICO.

(Video Source: YouTube - Atlantico Network - What we do? )

Atlantico is a decentralized platform that used blockchain technology to improve the health industry through creating a social platform where clients and users are able to interact in a transparent and secure platform.

Platform users will be able to store their records securely on the blockchain where they are free of forgery and theft, through blockchain ledger toolkit provided by Atlantico users will be able to use their records for future analysis. Atlantico will unite health industry participants such as patients, doctors, health facilities, insurance providers and pharmaceutical manufacturers.

Atlantico runs on the NEM network to improve the transaction speed of its processes and reduce the processing costs of its users.

HOW ATLANTICO NETWORK WORKS

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Atlantico will allow manufacturers of pharmaceutical products to register them on the platform, the products which includes medicine will be digitized and given an identifier for easy tracking, the products are delivered to wholesalers where they are later distributed to retailers. The data collected on the retail section included date of receipt, store duration, stock and price. Using artificial intelligence Atlantico network processes this information and records it on the blockchain in real time to allow transparency and process tracking in the supply chain, from manufacturer to retailers.

ATL TOKENS UTILITY VALUE.

To enable the network to processes its transactions in an efficient and effective manner, Atlantico has tokenized its economy where it has minted ATL tokens to be used as the fuel of the platform to allow processing of smart contracts and processes on the network. The tokens will be used to incentivize users who review and leave feedback of their doctors' performances and services, this will allow other users, the tokens will also be used to incentivize medical practitioners who are using the platform, Investors will be able to receive dividends for their investments through smart contracts based on the tokens they own. The tokens will also be used to govern the management of the network through voting for activities in the platform. Users who hold ATL Tokens will be able to liquidate them in an exchange of their choice after listing.

Problems of medical and pharmaceutical industry & Atlantico Solutions.

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To improve the quality of services and products in the healthcare industry, Atlantico is improving the processes of service delivery though optimizing the processes by providing tools and infrastructure that services and products manufacture can use to track the quality of their products in the market and services. This is through reviews and rating of their products and services on the market in a decentralized community.

In a bid to fight counterfeit products, Atlantico is allowing manufactures to be able to track their products throughout the supply chain in a distributed ledger than can be accessed by retailers and users to ensure they get quality products. Products identification will allow monitoring and real time tracking to ensure the distribution process is optimized and only quality products are available in the market.

Atlantico is providing a solution to overpriced products and services by allowing industry participants to reduce the processing fees through eliminating middlemen in the supply chain who inflate the processing costs.

Through providing a platform that reviews health industry participants, the industry will get rid of fraudulent doctors and insurance companies that provide poor services.

Conclusions.

The health industry is always ready to adopt new technologies that improve services delivery. Atlantico is one of the projects with this aim, the platform connects major industry players such as manufacturers, doctors and insurance providers. Atlantico processes and businesses model will improve service delivery, optimize the supply chain process and reduce costs in the processes, services and products. Atlantico platform is still in early stages and more features will be added in time as the projects follows its roadmap.

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