Clinicoin is preparing to launch a system that will reward consumers with digital tokens when they jog, meditate or pursue other healthy activities and record them in its blockchain.
Consumers will be able to spend the tokens, dubbed CLIN, at Clinicoin’s online marketplace, where offerings will include gift codes for products from wellness brands, limited-edition T-shirts and digital tools for monitor health conditions. The system will also provide information about fitness and nutrition.
Health care organizations and developers of health apps who partner with Clinicoin will be able to act as validators, confirming when members use their tools or complete a healthy activity. Clinicoin calls this “proof of engagement.”
“The power of this project is in creating a platform that encourages engagement in health and wellness at its core,” says Chandler.
“Real-world” validators such as fitness instructors or meditation group leaders will also be able to confirm members’ healthy activities on the Ethereum-based blockchain. They, too, will receive tokens as rewards.
While Clinicoin offers a way to make a game out of healthy living, its backers also want to use the system to connect consumers with organizations seeking participants for health care research.
Mosio Inc., the Seattle-based firm behind Clinicoin that makes mobile messaging software for clinical researchers, saw blockchain and cryptocurrency as a way to build a community of people who might be willing to take part in medical surveys or studies.
Accelerating Medical Research
Noel Chandler, Mosio’s co-founder and CEO, tells ThirtyK that clinical researchers often encounter difficulties recruiting and retaining participants, and this increases the cost and time of bringing drugs to market. Mosio hopes the Clinicoin platform will make it easier for researchers to engage patients on their mobile phones.
Clinicoin will also allow developers to create apps, known as ClinApps, on its open-source platform that will benefit from the built-in user base.
“We’re all patients at some point in our lives, and statistics show we’re not very good at it,” Chandler tells ThirtyK. “The power of this project is in creating a platform that encourages engagement in health and wellness at its core.”
Although the firm is still recruiting developers and health care partners to join its community, Chandler says the tracking system, dubbed Healthy Logging, will go live in a few weeks. Clinicoin will later add features that allow users to take part in clinical or market research, as well as features aimed at boosting patient recruitment, retention or the completion of desired actions. For example, a patient could receive CLIN as a reward for completing an annual checkup.
“A missed doctor’s appointment reportedly costs the doctor about $250 in the U.S.,” Chandler says. “We have doctors and dentists who have contacted us who are interested in participating because they see the cost benefit of helping ensure patients show up to their appointments.”
Clinicoin sold approximately 200 million CLIN tokens during a sale that ran from Feb. 21 to March 21, Chandler says, and will likely not be pursuing other ICO activity. “We’re pleased with where things are and would rather spend our time focused on the business,” he says.
Clinicoin will receive revenue from charging developers to create identities on its system, Chandler adds. It will also charge fees for offering surveys and paid messages.