Swiss-based HIT Foundation, part of crypto-valley association, offers a blockchain-based marketplace for personal health data that helps individuals in the Healthcare ecosystem to digitize, trace and monetize their health data. Health Information Traceability (HIT) matches people seeking health information with those who provide it through a decentralized marketplace. Health information is tokenized and thereby converted into the healthcare currency of the future. Their platform matches those who seek health data with those who provide it for an incentive. Health data is global. The mission of the HIT foundation is to support sustainable and equitable Healthcare, enabled by shareable data, with individuals at the center of care.
Health data is worth gold. According to figures from PwC, the connected health market is expected to be worth $61B worldwide by 2020. A further report from the Transparency Market Research suggests that by 2025 the global digital health market will hit $536.6B. This presents a major opportunity for the industry, but people need to have confidence in sharing their health data. And that’s where the blockchain comes in. HIT Foundation are of the opinion that the use of the blockchain may help transform the healthcare industry.
Tokenizing health data is a revolutionary way to motivate individuals to digitize and share their data. With HIT tokens individuals are enabled to pay for health services and monetize their data themselves.
The platform is aiming to solve three issues plaguing the healthcare industry:
- the monopolization of health data leading to siloes and inefficiencies;
- lack of incentives for individuals to demand or record, digitize and update their health data;
- data privacy
HIT will democratize data ownership, putting the individual patient back at the center of care with full transparency and control by the individual to provide data for an incentive if they wish to do so.
The HIT Foundation does not monopolize and commercialize the data of the users. The HIT platform is about governance and not about platform capitalism and it protect people ‘s rights. HIT targets both patients and health individuals.
How it works
HIT doesn’t store nor centralizes data. There is no database to search on. Info seekers have to define specifically the data they are looking for and for what purpose providing transparency to the data provider. Filtering is done only on the user’s device and never on the platform or the sender’s end to maintain user privacy.
HIT adds to the existing system:
- Traceability: The individual as the data creator is the one to decide if, when and by whom the health data is being analyzed
- Fair valuation of health data and reimbursement of its usage
- Easy access to a pool of individuals who can provide data such as patient-reported outcome
Why we selected HIT foundation for DIA Munich
The current challenges in healthcare calls for a fundamental shift in approach, driven from the bottom-up, enabling the population, empowering not just patients but healthy individuals to proactively manage their health and their health data.
Tokenization of health data has great potential by democratizing ownership and facilitating better data mobility. It enables everybody to generate value from his data & pay health services with tokens.
Who is HIT foundation?
A Swiss-based foundation founded in late 2017 in Crypto valley and part of the Cryptovalley association. Seed funding of $0.5M, currently doing private sales of asset tokens.
MVP completed test net testing and is now launching onto main net to be tested by investors and partners before they go full fledge in 2019 with pilots in Switzerland and in Vietnam.
Founder, Eberhard Scheuer has 20 years of experience as a thought leader in eHealth, having headed the e-health department of the University Hospital of Zurich, lectured at the University of Zurich and acts as MD for Swiss Digital Health Association (SVDG).
Co-founder and COO, Elizabeth Chee has two decades of international management experience leading business development, sales and operations across Asia, Europe and the US in the high-tech sector. They are backed by an experienced founding team with synergistic skills.
”There is often zero incentive to digitize one’s health data. When one is healthy, they don’t care. When they are sick, it is often too late.” Elizabeth Chee, co-founder & COO HIT foundation.
L to R: Vega Paithankar (CTO), Quy Vo-Reinhard (CDO), Eberhard Scheuer (Chairman), Elizabeth Chee (COO), Issac Chan (Growth Hacker) HIT foundation.