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Blockchain, built upon the consensus-based distributed ledger system, is constantly evolving and already there are talks of blockchain 5.x and so forth at the time of this article. Some of the major blockchain platforms are now facing critical issues including (but not limited to) scalability issues, data clogging and most importantly, lack of demonstrable real life/business applications. For example, despite some of these blockchain platforms boasting high transaction speeds in thousands per second, the actual transaction rate to date is far below such thresholds and in some circumstances less than 10 transactions per second.
Part of the reason is that some of these blockchain platforms are focusing on developing/resolving their blockchain technology and yet, has not function as a viable business, in particular, overlooking the aspects of building demonstrable applications or their gateways/interfaces are just too complicated for ordinaries to adapt. There is a real focus in the market for an encompassing business model that includes focus around applications building and a dedicated objective to promote transactions.
Aenco is a startup blockchain company focusing on delivering a new generation blockchain platform (tackling the issues raised above!) and its business model includes delivering a number of blockchain applications to demonstrate its customizable approach and ease of adoption by businesses and validity of its blockchain technology. In particular, Aenco is already working on a number of high transactional oriented financial driven applications, as well as working towards delivering a number of big data and research-driven projects for the healthcare technology sectors – a meaningful and emerging sub-sector focus of Aenco. Aenco has been approached by a number of sectors as well to facilitate the building of such applications which will bring immediate benefits to its blockchain, promoting it as a mainstream blockchain platform for businesses and research.
The global healthcare market is enormous and growing every year. In 2015, researches showed that global medical expenses were as high as USD 7 trillion and estimated to exceed USD 8.7 trillion by 2020. The market potential is immense and the trend is expected to continue, especially caused by the medical needs of an ever-aging population around the world.
For today’s healthcare industry, however, there is a widespread challenge at its fundamental level. That is, potentially superior healthcare projects often lack funding and community support as well as research innovation and all-around collaboration. In general, the current healthcare industry is short of patient-centered, intelligent healthcare solutions. There is a growing trend, especially demonstrable in the last two years, that blockchain technology and the associated smart contracts can resolve and deal with these challenges. At the thought of blockchain, many may associate it with digital cash and refer its applications in the financial sector immediately. However, when adopted properly, blockchain will definitely have the potential to change the day to day operations of healthcare field and revolutionizing its efficiency through technological support and advancement.
How does blockchain change the healthtech sector?
Despite huge breakthroughs made in the healthcare industry over the past few years, there is huge growth potential for realization intelligent healthcare.
For example, one of the challenges in the healthcare industry, in particular, the medical services space, is to manage patient appointments, share treatment outcomes and ensure that patient data is secured but can be retrieved efficiently by professionals. These problems can be tackled perfectly based on blockchain features such as traceability and tamper resistance.
For another, as we know, the current approach to process and store patient data is not safe and efficient indeed. If the information is stored in the corresponding blockchain, not only can security and privacy be maintained but medical data interconnection can also be achieved. In the course of treatment, this will potentially help reduce the duration of treatment and lower administrative expenses required, optimizing the whole treatment process in an efficient manner.
Another example includes using blockchain technology to keep track of the sources of medicines, preventing the frequently-seen fake drug incidents today.
In brief, blockchain plays an enormous, game-changing role in healthtech.
Aenco in Financial
Developing its world’s first blockchain-based financial solutions platform for healthcare technology, Aenco will deliver comprehensive blockchain solutions for financial, healthcare, and pharmaceutical projects, aiming at completing at least 4 to 5 projects every year. Aenco is already busy working on the live launch of 4 of these healthcare and medical technology applications in the next 12 months, including supporting academic research sharing, the healthcare fund industry, pharmaceutical drug development process, and medical service driven transactions – Aenco will be making major announcements shortly.
Well aware of the pain points of the healthcare industry, Aenco concentrates on medical big data, medical and pharmaceutical research, intelligent clinic, project financing, and many other aspects. With its own blockchain technology and smart wallet, Aenco attracts communities and participants to every healthcare project to establish their own ecosystem.
What is worth mentioning is that Aenco does not depend on existing blockchain infrastructure, but uses new consensus algorithms to create its own blockchain which will be evolved along the way and delivers an industry competitive transaction rate that is scalable with increasing parallel processing power of its nodes network to perfectly meet the requirements of the healthcare industry.
Not only that, Aenco’s projects will focus on assisting emerging healthcare start-ups. On the basis of blockchain technology, Aenco will also help them gain access to financing and ecosystem, providing them with all-in-one solutions to break through the limitations under the existing financing framework. Aenco enables these start-ups to develop better products, thus making our lives better.
Aenco is also assisting its sponsored projects in building their own ecosystems and community groups through its own platform, thus promoting the development of the whole healthcare industry as well as uniting the various community groups that have a diverse background under one umbrella. This will be a perfect solution for all healthcare start-ups waiting for.
In the near future, therefore, it is believed that Aenco can solve many current challenges and assist a wide variety of research groups and business sectors (including those outside of the financial and health tech sectors) with its blockchain technology and its API gateway feature to facilitate customizable business applications, and eventually driving huge efficiencies in our day to day lives.
For more information, please refer to:
- Official website: https://aencoin.com
- Whitepaper: https://aencoin.com/assets/docs/aenco-whitepaper-cn.pdf
- Blockchain position paper: https://aencoin.com/assets/docs/aenco-position-paper-cn.pdf
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