Hospitals need blockchain for supply chain automation
“A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, through to its eventual delivery to the end user.”
At hospitals though, the customers aren’t really customers but patients and the sales people aren’t really sales people but doctors and nurses. The real product everybody wants at a hospital or clinic is their own improved health, a satisfying experience and affordable pricing.
An injured patient in a hospital emergency room or a sick child at their local urgent care clinic isn’t thinking about a doctor or nurses shift cycles or lack of sleep or preferences in the equipment and drugs all around them. A child might think some cutting edge new lamp is cool, but if it’s not a satisfying experience or the hospital staff weren’t friendly, it’ won’t matter.
How can all these inventory and resource challenges make a difference in health outcomes, patient experiences and healthcare costs.
Hospitals don’t operate like Walmart or Amazon or Nike. Supply and demand means something entirely different. And the changing expectations and outside mobile influences of patients as consumers doesn’t always sit well with a highly regulated industry like healthcare.
Supply chain management, inventory management, medical device asset management has become a key security issue, optimization and efficiency issue, and a cost problem for hospitals.
Reimbursements and Costs
Supply chain management costs consistently rank as some of the largest expenses for healthcare and hospital systems. A recent survey of healthcare executives and administrators in the USA revealed that productivity improvements and healthcare supply chain cost reductions are their top priorities. Value-based reimbursement models are being implemented by many hospitals because of the Affordable Care Act built-in incentives for healthcare providers to coordinate patient care with a “pay-for-value” model, based on performance and results, rather than the traditional “pay-for-service,” where the cost of care was often paid upfront.
Many hospitals and healthcare leaders are looking at how they can provide an improved patient experience while reigning in costs.
And with this, many healthcare leaders are looking to the healthcare supply chain as one of the biggest areas for savings opportunities . Integrating blockchain for supply chain automation can help alleviate some security pressures, audit trail regulations, and ensure things like total landed supply costs—the total cost of getting a product from manufacturer to the hospital or physician’s office.
This is no easy task and a lot of “i trust this person but I don’t” makes this a perfect use case for blockchain. Supply chains go beyond the initial purchase price and include things like logistics costs, duty fees, taxes, insurance, and other fees.
A more holistic and end-to-end secure approach to the healthcare supply chain is not only about improving efficiency and reducing costs to the hospitals and healthcare systems, but about providing better healthcare in the least lead time and at lower costs to the patient.
Efficient & Secure Data Integration, Automation and Analytics
Integrating, aggregating , transforming, automating and and analyzing data along the supply chain trail can provide better indicators of product need, cost optimization strategies and helping to reduce waste, stabilize inventory and, ultimately, bring costs down.
Tracking and securing smart medical devices with IoT sensors mean technologies like Radio Frequency Identification (RFID) and computerized provider order entry (CPOE) systems integrated with AI and blockchain, can help automate the entire supply chain process.
Better data analysis that’s secure and automated data ensures improved efficiency levels, maximizing inventory costs and utilization, all of which can help reduce costs, an automated, technology-based supply chain can help improve patient outcomes by supporting a higher level of patient care.
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Reddit Launches some loot tokens for reputation and rewards on ethereum.
2 new types of loot tokens have been created. It’s a token on the Ethereum blockchain that is earnable within a community rather than purchased. They signaled that their plan to pivot the company’s monetization strategy more towards crypto. Interesting tidbit. And This overall initiative is referred to as “Community Points” and builds on the early experiments from /r/Ethtrader donuts.
What are the two loot tokens called?
Reddit launched “Moons” ($MOONS)
for /r/Cryptocurrency and
“Bricks” ($BRICKS) for /r/ForniteBR
I wonder how they plan on getting away with “bricks” considering LEGO uses bricks and such and doesn’t really like when people use their lingo for business revenue.
The tokens are available on specific subreddits on the new Reddit theme and in the app.
Users will be able to access the tokens in their Reddit “vault” an in-app ERC20 wallet available on both iOS and Android.
Basically a crypto wallet in a sense.
Reddit will distribute these tokens initially based on Reddit Karma to represent compensation for the value that users have contributed to the community overtime.
Reddit itself will keep a portion of the tokens in each subreddit, and award a small portion to the community moderators for managing the subreddit.
On the launch day there will be an initial distribution of 50M tokens covering previous activity in the subreddit, and then the remaining tokens will be distributed month over month diminishing with each monthly distribution until it hits its cap of 250M tokens for each individual subreddit.
Reddit has indicated that the community will also have some ability to govern the model of distribution with in each independent subreddit.
What can you do with Reddit Loot ?
The Community Points Program issues a type of loot token on the Ethereum blockchain. So you can earn loot in the community as well as redeem it within the same community.
One major usage is using these tokens to tip other users. You can also buy badges and awards, take part in weighted polls, or buy a special membership to each particular subreddit (that gives you a colored user name, specialty loyalty badges, and the ability to embed gif replies in your comments.)
Economics of the loot tokens
The economic model has three key points:
1) Number of tokens issued diminishes over time, and can only be earned from human effort.
2) All future human effort earns less tokens than all prior human effort. There is a hard cap of 250M tokens in a subreddit. There will never be more than 250M $MOON tokens.
3) Every time $MOON tokens are used to buy badges, memberships or for any other action on Reddit, they are burned. (destroyed !).
The price of an asset increases as supply lowers and demand increases
So the more active a community is and the more value it creates for its users, the less tokens will exist over time.
Tokens will have a lower supply, but, a greater demand.
Any other usages ?
Moons and Bricks are both ERC20 tokens on the Ethereum blockchain, you can do whatever you want with them.
In the Reddit app your wallet is a full Ethereum wallet that has a private key and recovery phrase. You are able to use that wallet anywhere you would normally use an Ethereum wallet by exporting it.
This means that once you claim your tokens you own them and no one else has access to them. Not even Reddit.
While these tokens started their journey with Reddit, they ultimately represent value created within a specific interest group, and could start to proliferate across other mediums.
If you want to list your tokens on exchanges to sell, you can do that too.
While Reddit is very likely to continue exploring new features to redeem these tokens for, the tokens are fully decentralized and can be used by anyone in anyway.
Interesting stuff and use case.
- Zcash Foundation plans to bring its privacy features to the Cosmos ecosystem.
- The project will utilize “pegzones” to add an anonymity layer to cross-chain transactions.
- This will allow shielding assets, transfers and staking across blockchains.
- It will be possible to move Zcash from one blockchain to the other.
Blockchain being used for music and streaming and payments . Grammy-nominated singer Akon will launch his forthcoming token using Stellar’s blockchain.
According to an update , the Akoin cryptocurrency ecosystem will use Stellar’s network as its basis. Akoin co-founder and president Jon Karas said the decision was made in part due to the shared values between his project and Stellar.
“ Akoin selected Stellar’s distributed, hybrid blockchain due to a shared vision for creating global financial inclusion, particularly in areas such as Africa.”
The update claims Akoin will be compatible with Stellar wallets and interoperable with all digital assets and currencies currently supported by the Stellar network. Karas highlighted the Stellar Network’s “efficient cross-asset transfers of value” as a benefit for Akoin and said users will be able to instantly swap from one currency to another.
In addition, users will be able to exchange mobile phone minutes, which have become a popular means for exchange in certain parts of Africa, for Akoin and other currencies on Stellar’s network.
According to a spokesperson for the project, Akoin will not be a stablecoin and instead have a fluctuating price. He said,
“ Akoin is not a stablecoin, but we will provide access to other leading stablecoin offerings within our eco-system.”