MintHealth and Polymath Create the First Healthcare Security Token to Revolutionize Healthcare
At Polymath, we get a first look into interesting blockchain-based innovations. One of those companies is MintHealth™, a decentralized health Platform-as-a-Service (PaaS) that aligns health plans, provider groups, and wellness brands around patient engagement, improved clinical outcomes, and lower healthcare costs.
They seek to remedy the global pandemic of preventable chronic conditions, which have resulted in unsustainable socioeconomic conditions. In order to resolve this massive issue, patients need to take control over their health journey. Patient engagement is incentivized via digital incentive tokens, Vidamints™ (more on that in a minute).
The team at MintHealth has created a novel dual-token structure, comprised of Vidamints and the MintHealth Security Token (MHST) (read more about their dual-token structure here), which Polymath is proud to bring to market.
The MHST token will be the first security token issued in healthcare representing equity ownership for token owners, and will be configured using the Polymath platform.
MintHealth will use Polymath’s Security Token Standard Protocol, ST-20, which simplifies the process of creating and investing in MHST, while embedding legal and regulatory compliance into the tokens themselves. The Polymath platform will enable the MintHealth Security token to become programmable equity affording greater control and customization over the equity. The MHST can be traded 24/7 without the need for intermediaries or centralized controlling functions.
We share great enthusiasm around investing in security tokens, an estimated $80 trillion market in the next 3–5 years, as an opportunity to get ahead of the curve. Industry analysts and leaders predict that 25% ($20 Trillion) of the existing global equity market of $80 Trillion could be security tokens in the next 3 to 5 years, driven primarily by a massive influx of institutional capital.
MintHealth Co-founder & CEO Samir Damani told us, “We are excited to work with Polymath in their trailblazing efforts to create the gold standard platform for issuing securities in a fashion that protects both the investor and the company looking to bring meaningful improvements to industries across the globe. This partnership will facilitate access to millions in capital from new investors for us.”
For secondary market trading, MHST will be listed on OpenFinance Network (OFN), a trading platform for tokenized securities. OFN works with institutional and retail investors, on a global basis, deploying blockchain technology to facilitate more efficient trading of securities.
Healthcare and Blockchain — The MintHealth Approach
Healthcare is widely viewed as one of the largest Blockchain opportunities. As the first Healthcare Security token, MintHealth will be legitimizing not only security tokens but Blockchain in Healthcare.
The MintHealth model drives continuous improvement to the core of the spiraling health cost problem. Many solutions push a health agenda that, while beneficial, doesn’t attack the critical problem of financial sustainability related to healthful action.
With MintHealth, patients, for the first time, can be in control of their own health, and be rewarded for good diet, exercise and medication adherence. Users of MintHealth will be provided a community to support them. Patients set up and share their health data through mini-social networks with friends, family, physicians, insurance providers and others, who will encourage positive behaviors.
Furthermore, patients can securely share data with hospitals and drug companies to support clinical trials. Empowerment through community and awareness are the keys to long-term success in combating skyrocketing costs and human suffering.
Digital incentives (Vidamints) reward patient behaviors to increase ROI for at-risk entities, as well as increase customer loyalty through a growing token redemption marketplace. Incentive/Utility (Vidamints) tokens with a fixed price administered through the blockchain provides price stability and proof-of-health™ required by enterprise customers, leverages market movements towards security tokens as a vehicle for fundraising, and automates governance functions via the blockchain.
Keep an eye on this company. Check out CEO Samir Damani’s presentation from StartEngine’s ICO 2.0 Summit. To learn more about MintHealth, visit: http://minthealth.io; on Medium at https://medium.com/@Mint_Health or Telegram at https://t.me/minthealth.
About Polymath
Polymath Network (Polymath) is a decentralized platform that makes it easy to create security tokens. The Polymath ST-20 standard embeds regulatory requirements into the tokens themselves, restricting trading to verified participants only. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchain.
