Health Credit

Healthcare funders like corporations, governments and foundations want to improve health in developing countries but they are unsure of the impact they are getting. This leads to long due diligence periods and less funding in the space that could save lives. Meanwhile, many health interventions go underfunded due to lack of awareness, accessibility and traceable impact.

We are all familiar with this: when you see a company`s annual report say “We are helping maternal health in Africa” the reader wonders “Are they? How much? And how sure are they?”

In the era of blockchains we need not be in doubt anymore.

The Blockchain Era we can verify the impact of healthcare interventions.

Solution

We have created the first tradeable credit for health care impact. Think of this as similar to the unit of account of carbon credits to measure environmental impact and mitigate climate change. Instead of measuring a ton of carbon as a unit of account we use a disability adjusted life year, DALY. DALYs (pronounced DAH-lies) are a common unit of account in healthcare for the effectiveness of treatment.

Using this standardized unit enables philanthropists to compare the cost effectiveness of different interventions. Did you know that heart surgery costs $25,000 per life year saved but giving a tuberculosis vaccine only costs $10 per life year saved? As a philanthropist you might want to donate to health interventions that can have the most impact. Until now, there was no marketplace for philanthropists to find and compare the most cost effective interventions.

Since each health credit is one Life Year Saved we use the symbol $LYS for our token.

In addition to the $LYS ERC1155 token for measuring impact, we have a governance token called $IMPACT. Holders of the governance token secure the protocol, verifying the impact of health Care organizations.

We have a secure system for validating this offchain data:

Healthcare orgs upload evidence of their impact

Owners of the $IMPACT protocol token approve/reject healthcare orgs

Approved tokens are made available as health credits, $LYS, for philanthropists to buy as certified impact

If you are a healthcare organization go to [link] create a project. There you can upload evidence of extra years of life you provided to your patients. Then investors in our $impact token can approve/reject your impact.

If you are an $IMPACT holder you have a vested interest in the protocols long-term success and an incentive to only approve valid projects. If you want to buy $IMPACT you can do so here. $IMPACT holders are randomly selected to validate projects. Regardless of whether they approve or reject, validators get the same validation fee. Approved projects are then listed on the marketplace as Verified Impact.

If you are a philanthropist interested in funding impactful healthcare projects, go to Verified Projects page. There you can see a list of verified projects you can fund.

Thanks for reading and being a part of the first tradeable health credit.

If you want to learn more, read our whitepaper here [link]