I love the idea of applying blockchain tech to the healthcare sector, but why does your platform require a new token? Couldn't it exist using current options? Also, why will your token retain or gain value? Thx
Hi AlphairyA, thanks for hopping in here.
The need for the DOC token comes from a number of different aspects of the DApp system that HeathSapiens is designing.
This project not be done with ETH for a number of different reasons. First off; if every tokenized project/platform simply replaced their token with ETH, there would be risk for a valuation crisis, where each platform is attempting to pull a finite amount of ETH into their ecosystem, and away from the rest of the network. ETH needs to remain the currency/gas of the ETH platform, and not a replacement for tokens in their own micro-platform on the EVM. Additionally, if many projects succeeded in pulling ETH into their ecosystem, then it would result in diminished Ethereum network security, as Ethereum is moving to PoS, and requires Ether to be staked in order to secure the network. Another reason why using ETH is suboptimal; the network health as a whole needs to be taken into account.
Having a DOC token seperates the network valuation from eachother. Where, without a token, the HealthSapiens platform would be intricately tied to the valuation of Ether; having a separate DOC token allows for price discovery within its own ecosystem, without the HealthSapiens ecosystem being interconnected to entirely different, unrelated platforms that use the same currency (eth) to run it.
A DOC token also provides some more concrete, tangible solutions to the creation of a network. A token is needed for the creation of a token rewards pool to help bootstrap the growth of the network. For example, a pool of tokens is needed for the rewards for patients who leave a review for a physician. Tokens are also paid to patients who share their EMRs with a researcher or pharmaceutical company. A token pool also creates a reward supply for new patients and also new care providers, creating an incentive to join the ecosystem. Another bootstrapping feature.
As for retaining and growing value; tokens gain value based on the users that need to use the token. There is no shortage of sick people in the world, and also no shortage of internet-connected people, meaning that the token has a use-case for a wide number of people. It is the job of HealthSapiens, and hopefully this ICO, to get the tokens into the hands of as many people as possible, so care providers have a large number of different customers looking for their service. The care providers that truly provide good, quality care will be sought after, thanks to the built in rating and reputation platform that HealthSapiens is integrating. The long term vision is that care providers that have earned high ratings will be in demand the most, and they require DOC tokens for their services. The ratings and reputation platform is built so that it incentivizes doctors to achieve high ratings, so that they can demand more tokens for their services. This creates token demand from people who need access to doctors.
Then simple market forces get into play; demand for tokens theoretically increases token value.
Let me know if this answered your question; it is a common one and one that is very important to ask while auditing projects! Glad your head is in the right spot.
-HS team
