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Top 6 Companies Exploring Blockchain in the Healthcare Industry

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Finding new use cases for the blockchain industry is not necessarily the biggest challenge. Ensuring those use cases can be commercialized is something else entirely. In the medical sector, a fair few companies are looking to introduce blockchain technology. The following companies are listed alphabetically, and have enjoyed various degrees of success in bridging the gap between the two ecosystems.

#6 Chronicled

Although the company is not necessarily focusing its attention on building new medicine, tackling the supply chain side of things is equally as important. Chronicled combines blockchain with IoT to improve traceability and accountability of the medical industry as a whole. Especially when it comes to time-sensitive delivery of vaccines, blockchain can introduce some key advantages not found in other technological solutions.

#5 Doc.AI

California appears to be an interesting place for blockchain-based healthcare startups, as this is the second company in the state on this list. Doc.AI aims to combine natural language processing and computer vision with blockchain technology to generate understandable insights based on medical data. Most of this information is incomprehensible to consumers. There is a lot of work to be done in this industry.

#4 Guardtime

The staff of Guardtime is very different from what one would expect. The Estonian fir employs cryptographers, security architects, and cybersecurity experts. Its goal is to bring blockchain technology to healthcare in terms of securing health records of all Estonians. Given the number of data breaches affecting this industry, that is not an unnecessarily luxury in this day and age.

#3 Medicalchain

Building a decentralized distributed ledger platform to store health records is becoming a competitive industry. Medicalchain is one of the ventures active in this industry, and they support telemedicine services as well. As such, patients can directly communicate with their doctors through the online medium at their disposal. It is evident this venture has a lot of potential, and its partnership with The Groves Medical Group will go a long way in this regard.

#2 Nebula Genomics

Perhaps the most ambitious project of them all comes in the form of Nebula Genomics. This particular venture will allow consumers to order up their entire genome for a more than affordable price. Ensuring this information can be accessed and stored in a secure manner will be done through blockchain technology. Enhanced genomic data protection is a worthwhile business model.

#1 Patientory

Most cryptocurrency enthusiasts will have come across the name Patientory before. It is a blockchain platform to secure health data for all parties, including patients and providers. There is also a mobile application to let patients create a profile so they can track their own health history. It is intent on becoming a one-stop solution for all one’s medical needs and purposes. Living up to these expectations will be challenging, for obvious reasons.

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Bitcoin-Related Stocks Soar In Stock Market; Is Bitcoin Responsible?

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The United States stock market on Monday saw a different dimension related to price movements of stocks. Analysis and price charts on the 24th June 2019 showed that virtual currencies Bitcoin-related stocks soared immeasurably higher than their fiat counterparts. This is coming after Bitcoin was seen to have temporarily broken the $12,500 resistance level and settled above it. This remarkable price surge seen in Bitcoin was the first recorded in about 15 months, and this made it a fast buying material.

Blockchain Relatives Stocks

Grayscale Bitcoin Investment (GBTC) is a virtual currency which is linked to the price of Bitcoin. The stock must have caught the bullish fever and followed every of Bitcoin’s upward waves. The stock was seen to rise temporarily by 13%. Grayscale Bitcoin Investment appeared to have few other supporters with similar blockchain relationships. Riot Blockchain, DPW Holdings, as well as Marathon Patent Group also made rapid uptrends as they all shined in bright green. All these stocks doubled their prices before the closing hour.

On the other hand, Peter Schiff an American stockbroker and financial commentator says

Both gold and Bitcoin prices have risen recently, causing many to erroneously conclude that the two are rising for the same reason. But stock and bond prices are also rising. Bitcoin and stocks are rising as speculative assets, while gold and bonds are rising as safe havens.

Bitcoin’s aggressive turnaround

Bitcoin has particularly moved up in a very aggressive bullish rally which saw it recording a new all-time high within the past 15 months. At the moment, no one can exactly predict Bitcoin’s next line of movement but many are very hopeful and the optimism is very much present. Bitcoin is expected to make more radical price surge, eventually surpassing its 2018 all-time high of $20,000.

Alts Waiting To Join The Rally

However, as bitcoin excelled in all ramifications, taking into consideration its market price and capitalization, this is not to be said of alt coins which seem to have been left behind in this series of radical movements. Popular alts like Litecoin is still trying to nurture the common touch.

At the time of writing this article, Bitcoin had doubled its price in about 5 weeks period and had also doubled its market cap in just a few days. This new development also steered arguments and criticism from Bitcoin’s antagonists who seem to be more interested in Gold.

Bitcoin Versus Gold

Gold, just like Bitcoin also rose up the charts and saw significant improvements. However, this was immeasurably smaller in capacity and totally incomparable to Bitcoin’s prowess over the past few weeks.

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Present-day Bitcoin market has matured, improved on the protocol side, claims Blockstack PBC CEO

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The cryptocurrency industry today has everyone’s attention, with the present bull run pumping Bitcoin’s price and driving the market capitalization through the roof. A series of investors and analysts have predicted that the bullish momentum experienced by the market is currently more mature than the one in 2017. This was backed by a recent SFOX report as well.

In a recent segment on Bloomberg, Muneeb Ali, CEO and Founder of Blockstack PBC, highlighted that the crypto-market was basically very repetitive, as it basically does the same thing time and time again, but on a different scale.

He said,

“The market goes up to its all-time-high, crashes down, takes a longer time to bounce back and if you have been in crypto long enough, you are pretty much expecting it.”

Ali suggested that Bitcoin had made significant progress on the development and protocol side as presently, a lot of highly skilled developers and engineers are involved in the technological aspect. The remark can be backed by the fact that Bitcoin recently released its Erlay protocol which was supposed to reduce bandwidth usage in the network and improve system efficiency.

The involvement of institutional investors has made Ali skeptical about the market since the technology is fairly new and “no one really knows” what is going on or where it is going in the future. He believes that the present bull run has less to do with institutional investors and more with the fact that the overall market was maturing.

Further, it was recently suggested that Bitcoin played a role in driving up the prices of Asian crypto-related stocks in Tokyo and Seoul, with certain companies witnessing hikes of more than 10 percent over the past week. The surging Bitcoin price and its corresponding market cap affords a lot of opportunity for these stocks to rise even higher.

Source :ambcrypto


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Bitcoin [BTC] Forges Another Assault On $15,000 Reviving Investor Interest

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  • Double-digit gains on Wednesday revive investor interest in Bitcoin and other cryptocurrencies.
  • Bitcoin surge is supported by key technical indicators including the RSI and the MACD.

It is evident that Bitcoin is not going to rest until it achieves the milestone by breaking above $15,000 in the coming few weeks. Following the break above $12,000, BTC/USD pushed for further correction higher inching closer to $13,000. A new 2019 high was from at $12,946, however, this will not hold as the high for long owing to the increasing bullish pressure at press time.

BTC/USD 4-h chart

Bitcoin price chart
Chart source: Tradingview 

BTC/USD trading pair is correction higher 10% on Wednesday with a relative change of +1115. In fact, a break above $12,900 is the kick that Bitcoin is waiting for the much-anticipated movement above $13,000.

As discussed by Coingape earlier today, the technical levels remain positively intact. The Relative Strength Index (RSI) continues to form a higher low pattern. The up trending indicator signal points towards a stronger bullish momentum. At 88.22, the RSI is back to the levels seen on May 12 following the break past $7,000 and later $8,000.

As long as the RSI stays in the overbought and respects the trendline observed on the chart, correct past $13,000 will be a walk in the park. The strong bullish momentum is also supported by the trends seen with the Moving Average Convergence Divergence (MACD). The indicators divergence increase is an indication of building bullish momentum and the tight grip from the buyers.

Bitcoin Key Technical Indicators

Key Resistance: $13,500

Key Support: $11,000 – $10,500

MACD 4-h: Increasing divergence suggest stronger bull grip.

RSI 4-h: The upward trend continues to cement the bull’s presence on the market.

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