Blockchain and Cryptocurrency
A Digital Democracy is Disrupting Healthcare and Fintech
The Strength of Blockchain
As technology drives change in healthcare, the emergence of blockchain and cryptocurrency has established a new and exciting opportunities for companies and consumers. Blockchain methodology has established a new path forward to allow documentation, security, and confidence. The implications for the life sciences are significant. From clinical trials to patient confidentiality, the blockchain represents the future. Some have even called it the Internet 2.0.
The Power of Cryptocurrency
In the traditional finance model of drug development, the valuation of an individual asset remains a function of the entire company's portfolio and the resulting dilution. Further, frequent restriction of promising investments to institutional investors can limited access to a variety of parties from payors to patients. The resulting inefficiencies in investments can complicate, obstruct and impede many aspects of drug development. The new reality of cryptocurrency and the ability "tokenize" a new compound in development offer key advantages:
- Direct investment in a specific compound, not company.
- Investment access to “outsider” like advocacy groups, caregivers, patients, and consumers.
- A higher potential level of liquidity and tradability.
The Functionality of Bitcoin
The value of specific cryptocurrencies such as Bitcoin, enables businesses to use algorithm-based accounting to allow financial transactions to occur in real time. This allows businesses to avoid dealing with the complexity and expense of traditional financial systems. Further, instantaneous transactions are optimized by unfettered global access. NostaLab accepts Bitcoin.