The Veris Foundation - The solution to over $60 Billion USD in expense a year.
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WHITEPAPER |
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GITHUB What Is the Veris Foundation other than the best answer to US healthcare expenses?
The Veris Foundation is a platform by which doctors and insurers can share information on services rendered and then execute payments based on the pre-existing relationships between the parties. This process (referred to in the industry as the claims process) adds over $60B USD in expense to our healthcare system each year. This expense is passed on to patients in the form of higher insurance premiums.
Veris solves this problem by using a blockchain with smart contracts to represent the relationship between all parties in the process, with the claim itself (known as a HCFA 1500 or UB 04) becoming one authoritative source of information -- as opposed to each party holding a version of the same claim in the existing system.
This is the type of problem blockchains are meant to solve, and the chain is developed by a US based non-profit entity who's interests are solely aligned with the reduction of this expense. All existing parties do not have incentives properly aligned to solve this problem.
The team behind the Veris Foundation has over 200 years of experience combined in all aspects of this process. No other team in the healthcare space has this level of experience. The team ranges from architects and CEO's of existing health systems, to physicians, third party administrators, and designers of existing insurance products.
The chain is currently full functional, and is a fork of the NEO source code. As such it inherits the characteristics and functionality of the NEO platform, though configured for processing claims
Technical Specifications
Name: Veris
Total supply: 50,000,000
ICO: 30,000,000 released for public sale
Pre-Sale Date : 19th of March 2018
Pre-Sale Bonus : 25% increase in payout
ICO date: 2nd of April 2018
The total raise for the Veris Foundation is expected to be $40M USD. Of this amount $36M will be placed into an endowment to fund the organization. This endowment will ensure that entrenched interests in the space can not merely wait out Veris until funding runs out. This ensures a long runway. Additionally, should Veris not meet a set of growth targets (specified here in the whitepaper), the endowment will be liquidated and returned to contributors. This level of protection has never been offered in an ICO.
For our complete roadmap check out the whitepaper.
The team at the Veris Foundation
