About Emrify Health Passport
Emrify is launching a decentralized Personal Health Record platform on top of the Ethereum public blockchain to deliver trusted health information to the right hands at the right time anywhere in the world. With years of building consumer engagement mobile apps, Emrify is laser-focused on collecting and locking up data for each person for complete ownership and control to freely share their data. Emrify top priority is to create attractive crypto economics models to incentivize health data sharing for all parties. With strategic US partnerships with hospitals and doctors, Emrify is building on top of established prototypes to accelerate the launch of production interfaces to firmly establish the Utility Token in healthcare. Join the revolution and be the CEO of your health. The time is now to fulfill the promise of the fantastic future of medicine.
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Emrify has been innovating in the healthcare industry with the Personal Health Record (PHR), Drug Facts, and Clinical Trials mobile application with thousands of downloads and thousands of users on the platform. Emrify has also been busy pushing the boundaries at health hackathons with multiple wins to showcase new solutions. Emily embraces emerging technology while maintaining a grounded deep understanding of the challenges at hand. As a company, Emrify is constantly searching for the cracks in the healthcare industry to solve the Holy Grail of problems of Interoperability. Emrify truly believes that blockchain is the mighty sword to slay the giant. The decentralized model has come to be the focal point for every stakeholder in the entire continuum of health services. More importantly, it has energized the people to demand more from their health providers. The following subsections will outline Emrify’s plan for launching an entirely new health record platform using the HIT token to build the ecosystem.
New HIT digital currency
The first step is to create a new cryptocurrency: Health Information Transfer or Health Information Token (HIT). The token is a utility token that will foster an economy around health data. Health information has strong network effects as more value is gained with more data for analysis. Emrify will establish the fundamental value of HIT for every health stakeholder and the consumers to participate and contribute to the ecosystem from day one.
Building an ecosystem
With the explosion of wearables and increasingly affordable genome sequencing, health data has gained the attention of every health stakeholder including providers, insurance, employers, researchers, government, and pharmaceuticals. In the past years, companies like IMS Health has been getting rich off your medical data by running a matching algorithm to sell to big pharmaceuticals. Currently, major players like IBM Watson and Google Verily project The baseline are prime examples of the rising value of big health data. According to a recent survey, both clinicians and executives agree that patient-generated data will be more useful than claims data in the next five years.
The HIT cryptocurrency
Emrify is introducing an open source cryptographic token called HIT. The HIT will be the unit for all transactions within the ecosystem. A HIT will serve as the basis of interoperability with other digital cryptocurrencies. Similarly, units of the HIT are fungible and transferable with the ability to trade on cryptocurrency exchange. HIT is a utility token valuable to both consumers and stakeholders for use in everyday services. For health data buyers, HIT represents the cost to pay network fees and pay users for their data. For consumers, HIT has value for paying transaction fees to share data to transfer and access medical records when needed such as for school vaccinations, for work purposes, for legal matters, for personal uses, for family-related health records, and for third-party apps.
For the first time ever, consumers can contribute health data for rewards and payments on the network just like Bitcoin miners. Users will never have to pay fees to aggregate data from all sources for storage on the network. Users will have the power to set their own prices and compare market rates. On the flip side, anyone can be a health buyer. As a marketplace, buyers will have the option to set prices and bounties for certain data types and health conditions. At first, wearables data from Fitbit, smart scales, blood pressure, sleep trackers, glucose meter, and other devices will be synced by the users for sale. The reason is that these sources can be validated through API services.
Ethereum and ERC20
The HIT will be implemented on the public Ethereum blockchain as an ERC20 token. The Ethereum blockchain is currently the industry standard for issuing custom digital assets and smart contracts. The ERC20 token interface allows for the deployment of a standard token that is compatible with the existing infrastructure of the Ethereum ecosystem, such as development tools, wallets, and exchanges. Ethereum’s ability to deploy Turing-complete trustless smart contracts enables complex issuance rules for cryptocurrencies, digital financial contracts, and automated incentive structures. These advanced features and active ecosystem make Ethereum a natural fit for a HIT.
HIT token issuance
In order to finance the HIT roadmap towards disruption, Emrify will conduct a token generation event to distribute 1 billion units of HITs. 40% of 1 billion HITs will be available for the crowdsale. Each HIT will be priced at 0.025 cents per HIT to raise a total of $10 million. At the conclusion of the sale, the distributed HITs will constitute the entirety of the available liquid supply.
Emrify strongly believes that a Health Utility Token is an innovative mechanism that truly deserves to be carefully examined under the law. Given the circumstances, the US state of Wyoming has passed laws that provide flexibility for the utility token to be developed further. Although there is still uncertainty under federal guidelines, Wyoming gives genuine blockchain startups a starting point to begin the conversation as Emrify all explore the promise of this new technology. The company has built prototypes to demonstrate how HITs are used to exchange health information. The company goal is to have HITs transfer working in production as soon as possible. The company looks forward to working with the State of Wyoming and the SEC to earn their trust to continue pushing blockchain forward to change healthcare.
users / contributors growth
Building the platform
Emrify personal health record
Emrify Personal Health Record is one of the most popular mobile apps ranking #4 in top apps according to AppAnnie. Currently, the app is available for both iOS and Android with thousands of registered users and hundreds of downloads every month. For the past two years, users have enjoyed using the app based on the reviews. Here’s what people are saying about it.
The Emrify Platform is an ecosystem of consumers and stakeholders using the HIT cryptocurrency to exchange health data. The purpose and mission of Emrify Labs are to promote and support research, development, and education to accelerate the decentralized protocols for health. In order to fulfill its mission, Emrify Labs will dedicate resources to three specific goals related to development, outreach, and research as follows:
The Labs will fund the development of tools to create and maintain a sustainable ecosystem for all parties to create value for one another. The Labs will be fully transparent by supporting open source projects that can be improved by the community. All comments from participants will be heard and considered in the development process.
The Labs will invest heavily in research by working with developers to create new apps and test new ways to advance health informatics. The age of big data and AI can move at a swift pace. Only by staying true to a culture of moving fast and breaking things can Emrify hope to take healthcare to the next level. There’s a lot of catching up to do.
This section discusses the general technical considerations as Emrify builds out the platform on the public Ethereum network.
Before going into details, it is important to remember that HIPAA is an old law that does not offer the best practices today. Systems are not safe under these outdated requirements. Since the Health Passport is an independent PHR on behalf of the user, it is not required to be HIPAA compliant. For more details, this document by HHS has clearly defined the health app use scenarios that are exempt. Emrify will be using the latest and safest protocols without being held back by compliance headaches. This is a key position to allow Emrify the flexibility to innovate as fast as other industries. Once data is transferred, it is up to the recipient to be compliant if it is considered a covered entity.
The Ethereum network currently operates on a Proof of Work blockchain and is therefore limited in bandwidth. Future versions of Ethereum based on Proof of Stake will work toward enhanced throughput and scalability. The current average block confirmation time is approximately 17 seconds. For technical reasons, the block time will marginally increase but will nevertheless be smaller than 30 seconds before August 2017.
Tom Nguyen – Founder & CEO
James Black – CTO
Vikas Singh – VP Engineering
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