Lischkapelle

Overview of Blockchain Technology in Healthcare

• The report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry and answers many key questions related to this domain.
• Blockchain technology has the potential to revolutionize the healthcare sector by providing a faster solution for tracking and authenticating medical shipments / drugs across the supply chain.
• Pharmaceutical companies such as Amgen, Novartis, Pfizer and Sanofi are using blockchain platforms including public blockchain, private blockchain, and consortium blockchain for different drug development applications (DDA).

Future Potential of Blockchain in Healthcare

Blockchain technology has emerged as a viable option to store / exchange data within the healthcare industry. It provides a faster solution for tracking and authenticating medical shipments/drugs across the supply chain and during logistics operations, in addition to compiling longitudinal patient records such as disease registries, laboratory results, and treatment related data records.

Pharmaceutical Companies Using Blockchain

Examples of some of the pharmaceutical companies using blockchain include (in alphabetic order) Amgen, Novartis, Pfizer and Sanofi. These companies are leveraging various types of blockchain platforms including public blockchain, private blockchain, and consortium blockchain for different drug development applications (DDA), such as drug discovery, intellectual property management, electronic health record management, vaccine distribution etc.

Current Market Landscape

More than 50 blockchain providers offer their proprietary platforms for these applications to various industries including healthcare, pharmaceuticals & government organizations. The use of blockchain has been increasing over recent years due to its ability to provide secure data storage & exchange solutions which boosts adoption amongst stakeholders involved in drug discovery & clinical trials.

Key Value Drivers

The popularity of blockchain technology has grown invariably in recent years due to its potential benefits such as secure data storage & exchange solutions which boosts adoption amongst stakeholders involved in drug discovery & clinical trial activities. This technology is being used extensively across different DDA’s such as drug discovery process , electronic health record management , vaccine distribution , clinical trial management etc .

• A new measure has been proposed in the New York State Senate to allow the use of certain cryptocurrencies as a legitimate means of payment for state entities.
• The bill was proposed by Democrat Assembly member Clyde Vanel and would allow for the acceptance of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
• Senator Wendy Rogers of Arizona has also proposed a measure that would legalize Bitcoin and other cryptocurrencies statewide to facilitate people’s ability to pay taxes, rent, and penalties in cryptocurrency.

The New York State Senate has proposed a new measure that would allow the use of certain cryptocurrencies as a legitimate means of payment for state entities. The bill was proposed by Democrat Assembly member Clyde Vanel, who has a reputation as a crypto-friendly politician. Under this proposed legislation, state agencies would be free to sign agreements with people to offer acceptance of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

The goal of this proposed measure is to help facilitate the use of crypto payments in state entities. If passed, it would mean that state-issued fines, taxes, and other levies could be paid for in cryptocurrency. Cryptocurrency is defined as any kind of digital money in which encryption methods are employed to govern the production of units of currency and verify the movement of funds, functioning autonomously from a central bank.

In addition to this proposed measure in New York, Senator Wendy Rogers of Arizona has also proposed a measure that would legalize Bitcoin and other cryptocurrencies statewide. This measure would enable people to pay taxes, rent, and penalties in cryptocurrency. This would be beneficial for those who are looking for easier and more secure ways to make payments.

If this proposed measure in New York is passed, it would be a massive boost for the cryptocurrency sector. It would be a positive step forward in terms of increasing the use of cryptocurrency and helping people to understand the benefits of using digital money. It could also open up the possibility of more states around the country accepting cryptocurrency as a legitimate form of payment.

• FTX identified a $415 million hack as part of the $5.5 billion worth of digital assets for recovery.
• The new CEO, John Ray III, stated that extensive investigative efforts from the team were needed for this revelation.
• FTX is also attempting to claw back a $2.1 billion Binance repurchase payment in addition to the $415 million ‘hack’ sum.

FTX, the once second-largest crypto exchange in the world, has now identified a $415 million crypto hack as part of the $5.5 billion worth of digital assets for recovery. This astonishing revelation came as a result of extensive investigative efforts from the FTX team.

John Ray III, the new FTX CEO, made a statement on Tuesday regarding this investigation, noting that “We are making important progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information.” The statement also detailed that the exchange had recovered $1.7 billion in cash and $3.5 billion in liquid crypto, in addition to the $300 million in liquid securities.

In addition to the $415 million hack that FTX is trying to recover, the bankrupt company is also attempting to claw back a $2.1 billion Binance repurchase payment. This payment was made just a few days before FTX went through bankruptcy proceedings in November of 2020.

The recovery process has been a long and arduous one, as there have been numerous legal, financial, and technical challenges that the FTX team has had to overcome. The team has worked diligently to uncover the hack and recover the funds, but it is still unclear how much of the stolen money will be recovered.

FTX is still in the process of completing its bankruptcy proceedings, but the exchange is hopeful that it will be able to recover the stolen funds and begin to rebuild its platform. For now, FTX is focusing on getting back to business and restoring its platform in order to regain its former glory. With the help of its dedicated team and its loyal customers, FTX has the potential to be one of the top crypto exchanges in the world once again.

• WeDoctor, a Chinese online healthcare services provider, is looking to float its Initial Public Offering (IPO) by H2 of 2021.
• The IPO plans are being considered either for a Hong Kong or US listing and the talks are still in the preliminary stages.
• Founded in 2010 in Hangzhou China, WeDoctor now connects more than 3000 hospitals, 300,000 doctors, and 200 million patients together.

WeDoctor, a leading Chinese online healthcare services provider, is looking to launch its Initial Public Offering (IPO) by the second half (H2) of this year. The news was reported by Bloomberg, citing people familiar with the matter. The report also noted that the firm is considering either a Hong Kong or US listing for the IPO, though talks are still in the preliminary stages and the plans could still change.

WeDoctor was founded in 2010 in Hangzhou, China, and has since grown to occupy a very pivotal position in the telemedicine sector in the country. The firm connects more than 3000 hospitals, 300,000 doctors, and 200 million patients together, transforming access to medicine in an innovative digital manner.

The current IPO plans of WeDoctor come off as the second attempt by the firm to launch its IPO, after its first attempt was crushed by the Chinese government’s crackdown on homegrown tech companies in 2021. However, the situation appears to have changed, as the Chinese government is now easing down on its crackdown.

The firm is backed by Tencent, a Chinese multinational investment holding conglomerate. In 2018, Tencent invested $500 million in WeDoctor, valuing the firm at $5 billion. The investment also included an agreement to integrate WeDoctor’s service into Tencent’s WeChat messaging service.

WeDoctor has also made several acquisitions over the years, with the most recent being the acquisition of Yunfeng Capital-backed Jiahui Health in 2019, a Shanghai-based private health services provider. The company also acquired fellow online healthcare firm Yibao Health in 2017 and has also made investments in several health tech startups.

If the WeDoctor IPO is successful, it will be seen as a major victory for the Chinese tech industry. It could also set a precedent for other tech firms in the country to follow suit, and could potentially open up the market for more Chinese tech companies going public.

• Prominent fund manager, Cathie Wood, has acquired an additional $5 million worth of Coinbase stock.
• Coinbase stock is currently trading around its lowest, having dropped as much as 86% in the year-to-date period.
• Cathie Wood’s company, ARK Fintech Innovation ETF (ARKF), has invested in Coinbase for the fourth time.

Prominent fund manager, Cathie Wood, has been increasing her bullishness on the crypto ecosystem, recently investing an additional $5 million worth of Coinbase Global Inc (NASDAQ: COIN) stock. This is the fourth time her company, ARK Fintech Innovation ETF (ARKF), has invested in Coinbase, with a total of 158,000 shares purchased.

Coinbase has seen a significant drop in its stock price when compared to its spot price earlier in the year. Despite closing 6.92% on Thursday, pushing the stock to a price of $34.78, Coinbase (COIN) is still trading around its lowest, having dropped as much as 86% in the year-to-date period. This has caused many investors on Wall Street to be increasingly bearish on the digital asset’s stock.

However, Cathie Wood is not deterred by the selloffs, and has taken an opportunity to stock up on Coinbase, which is now the largest crypto exchange in the United States. In December, a total of $3.2 million of the exchange’s stock was acquired by ARKF, and the latest acquisition is part of the company’s effort to solidify its bag at this time when most investors are shunning the shares.

Coinbase’s stock has been on a rollercoaster of ups and downs since its Nasdaq debut in April, and has seen some volatility in the last few weeks. Despite this, Cathie Wood is confident in her recent acquisition, and believes Coinbase will be able to capitalize on the increasing demand for digital assets. With the latest investment, she is sending a strong signal to the market that she is confident in the long-term potential of Coinbase, and the crypto ecosystem in general.

• Avraham Eisenberg was recently arrested in Puerto Rico on charges bordering on market manipulation and fraud.
• The mid-October exploit saw Eisenberg making away with $110 million worth of crypto, eventually causing the platform to become insolvent.
• Eisenberg has been slammed with commodities fraud charges in the MNGO case.

Avraham Eisenberg, a crypto investor, recently experienced a rude shock after he was arrested in Puerto Rico on charges bordering on market manipulation and fraud. This followed after he took advantage of a loophole on the DeFi trading platform Mango Markets.

The mid-October exploit saw Eisenberg making away with $110 million worth of crypto, eventually causing the platform to become insolvent. Eisenberg, however, insists that he and his team had only “operated a highly profitable trading strategy.” He also maintains that they only carried out market actions that were legally permitted by the protocol.

The arrest of Eisenberg has predictably led to reactions from the crypto community, particularly regarding the terms of the charges he faces. Notably, it has been reported that Eisenberg has been slammed with commodities fraud charges in the MNGO case.

This has raised questions about the legal status of digital assets, such as cryptocurrencies and DeFi tokens, with some arguing that such assets should not be treated as commodities. Others, however, have argued that the commodities market is the best fit for such digital assets, given the high level of volatility and speculation associated with them.

It remains to be seen how the legal proceedings against Eisenberg will conclude, and whether they will set a precedent in terms of how digital assets are regulated. Whatever the outcome, the case will likely be a landmark one, as it could ultimately shape the future of the crypto and DeFi markets.