- Project name: Solve.Care
- Token symbol: CAN
- Website: https://solve.care/
- White paper: https://solve.care/documents/Solve.Care-Whitepaper.pdf
- Hard cap: $35 million for 35% of tokens (the amount raised is effectively $30 million as 350 million tokens are to be sold at $0.07 - $0.1 each)
- Conversion rate: 1 CAN = $0.10
- Maximum market cap at ICO on a fully diluted basis: $85 million
- Bonus structure: Presale ongoing with 30% discount
- Presale or white list: Pre-sale & whitelist open now
- ERC-20 Token: Yes
- Countries excluded: None (must be accredited investor for USA)
- Timeline: Pre-Sale ongoing until March 9, 2018, token sale begins March 31, 2018 (Please refer to Solve Care’s website for the most up to date information)
- Token distribution date: Upon conclusion of token sale
Video summary (video is 7:45 long):
What does the company/project do?
Solve.Care is a decentralized platform for administration of healthcare and benefits programs. Authority is delegated to the patient with the hopes of enabling better access to care, streamlined physician tasks, and timely and accurate payments by the healthcare administrator.
The Solve.Care platform consists of Care.Wallet, Care.Card, Care.Coin, and Care.Protocol, designed to offer an innovate approach to administer benefits and keep all parties in sync away from a centralized record keeper.
Care.Wallet is a personal healthcare wallet that will help providers and patients communicate and manage care delivery. Users are able to find, schedule and pay doctors using tokens issued by insurance/employer/care-networks.
Care.Cards is a platform residing in the Care.Wallet, equivalent to apps in an app store. They have access to all the platform constructs and will be designed as a tool of intelligent automation.
Care.Coin is a payment currency designed to reduce cost of healthcare administration and reduce fraud, waste, and abuse. It will enable a proof of service model, which is a score of events in the blockchain that establish evidence of service delivery. This evidence can be determined based on schedule, consent, diagnosis, prescription, or other metrics.
Care.Protocol is the underlying fabric of the platform handling all communication and synchronization between entities, wallets, cards, coins, and client systems.
Below is an introductory video of Solve Care (video is 1:46 long):
How advanced is the project?
Solve.Care was incorporated in Q1 2017 and acquired the software and solutions company Ukrsoft in the same quarter. It released Care.Wallet 1.0 in Q4 2017.
Solve.Care signed the first commercial customer with over 250,000 clients in of 2018.
Expansion of platform 2.0, Care.Wallet reward program, and pre-authorization for medical services are planned for Q2 2018.
Expansion of platform 3.0, patient-provider direct scheduling and payments, and community extensible Care.Protocol are planned for Q4 2018.
In Q2 2019, the team hopes to complete an insurance ID card with built in plan benefits, provider payments via Care.Coin, and community published Care.Cards.
What are the tokens used for and how can token value appreciate?
The Solve.Care platform will be utilizing a two-token system consisting of CAN tokens and Care.Coins, each with distinct use cases.
CAN is the token being offered in the Solve.Care ICO, and it is needed for wallet subscription, card subscription and using of Care.Coin for payments. It will have variable value, be tradable on crypto exchanges, and be used for Care.Marketplace purchases. Transactions involving Care.Coins will require CAN tokens for emission and transaction fees.
Care.Coins differ from CAN tokens because they are not a part of the token sale, will not be tradable on exchanges, will be pegged to fiat currency to ensure a stable value, and the supply is not limited.
Care.Coins will be intelligent digital coins designed for transparent, accurate, and verifiable payment of healthcare services. It can be used for care administration network payments.
As CAN tokens are used for Care.Cards transactions and as emission and transaction fees for Care.Coins transactions, the more usage and transaction the platform has, the more valuable CAN tokens should be.
Solve.Care is incorporated in Estonia, with additional operations out of Kiev, Ukraine, and Fort Lauderdale, USA. They were founded in early 2017 and are a team of over 50. The biographies of key team members are listed below:
Pradeep Goel, CEO – Pradeep has been in the CEO, COO, CIO, and CTO roles at various tech companies for over 25 years, including EngagePoint, Noridian BlueCross BlueShield of North Dakota, and Dakota Imaging which was acquired by WebMD. He was deeply involved in designed and building solutions for public programs such as Medicaid, children health insurance, Medicare, SNAP, TANF, mental health, and others.
Vadym Vorobiov, CTO – Vadym’s career in software development has been related to product design, development, and adoption. He has spent over 10 years in the Health and Human Services sector, building and deploying enterprise systems for government and commercial organizations.
Vlad Fedorenko, Backend Dev Team Lead – Vlad has worked as a freelance Java developer, and developer/team lead for Devster Lab before joining the Solve.Care team.
Artem Grygoryev, Web Dev Team Lead – Artem was a web developer for Medicalaser, Farrosoft, and NextGenDev before becoming the web dev team lead at Solve.Care.
The advisory team includes David Randall, Ph.D, Resident Scholar with the American Research and Policy Institute, James Moran, former US Representative for the 8th congressional district of Virginia, Donald Upson, former Cabinet Secretary of Technology for Virginia, Chris Peterson, Managing Principal of Arbor Strategies, LLC, Andrey Zamovskiy, CEO of Ambisafe, among others.
- The project is led by a strong team with deep experience in the healthcare industry. They are being advised by respected people in the healthcare and insurance industry. This is going to help Solve Care open doors to companies in the healthcare industry to secure partnerships for the adoption of the product.
- Solve Care has signed a multi-year contract with a healthcare delivery organization that is responsible for managing care for 250,000 citizens, 5,000 providers, and 200+ facilities in Arizona, US. Should the pilot becomes successful, Solve Care would have a much easier time persuading other companies or government agencies to follow suit.
- Care.Cards is a platform that allows third party dApps to be hosted on top of it. It is expected that users will be able to use healthcare-related dApps within Care.Cards. This provides substantial potential for the usage of platform.
- The idea of the project makes sense and would provide significant real world benefits. If successful, the project can save a substantial amount of money in the inefficient healthcare industry.
- Solve Care has plans to expand globally. However, because the healthcare industry (insurance, doctor, and hospital network, as well as government agencies) is very different in each country (and in the case of the United States, in each state), the expansion plan may not be as quick as the team has projected.
- The US healthcare industry has proved to be difficult to disrupt with the incumbents resist to changes. The adoption of blockchain technology would eliminate a lot of middlemen and those companies would be against the change. Solve Care is at a fairly early stage and it is unproven that the project could disrupt the US healthcare industry and abroad.
Overall, we like both the short- and long-term potential of this ICO. Our thoughts of the tokens for short term and long term are as follows:
For short-term holding
Good. The recent reduction of hard cap is a good move by the team, especially in light of the current market environment. With the strong team and advisor and the ambitious scope of the project, we believe the project can reach hard cap with unmet demand.
The crowdsale date of March 31, 2018 is around 1.5 month away, which is longer than most ICOs. This can be both negative and positive – negative in that participants’ funds are locked up for a longer period, positive in that the market environment may be much better then.
For long-term holding
Good. The healthcare industry in many countries, including the US, is inefficient and ripe for disruption. If Solve Care is able to fulfill its vision, the potential is substantial.
We believe the idea is well thought out and provides significant real world benefits. With the project’s team and advisors, we believe it has a good shot to become successful.
For more information about the ICO, please visit the following links:
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.
This article is contributed by Victor Lai with the help of our intern Kieran O'Day.