Crypto In Frisco #3 – What Is Simply Vital Health?

Tai Zen: We got I believe that we have like a good 3 to 5-year boom in this space before the inefficiencies in the market level out and infrastructures built out and things are to level out. And I think that you really just want to take advantage of this opportunity that we have. I do not believe that we will ever have another bull market like this again in my lifetime.

You don’t need to ask for permission whether you should start a blockchain-based business or project. If you have an idea that’s good, just go do it and that that the biggest challenge in the blockchain space now is finding talent. It does not matter what your talent is.

If you’re an attorney, if you’re a CPA If you’re a programmer, you’re a software engineer you’re hardware engineer whatever talents that you have that work in the traditional business world, it also works in the blockchain space. Because every Cryptocurrency project is a business. Whether they believe that it’s a business or not, it’s a business that needs talent.

So whether you’re a social media manager if you’re just good on tweeting, messages out there are over 1,500 projects out there that needs somebody to manage their Twitter account right. And but if you don’t have if you have money then go start a blockchain business or get involved in it use your capital what happens if you don’t have money if you don’t have the money go volunteer your time.

I’ll share this with you guys back in 2013-2014, they started coming out with a new blockchain revolution called blockchain 2.0 like the second generation the first generation of blockchain was the one that was just clones of Bitcoin software. And in the second generation are the ones that I consider the one that wrote their own software like NXT like Ethereum they’re not based on a Bitcoin.

The base of a completely new codebase and code. And so at that time, nobody knew what NXT was, and I went in there and I just volunteered to start making tutorials for them you know what it was I was struggling to accept their wallet. So finally I figured out how to do it, I created tutorial split up online share it with other people.

And I think I made like 20-something videos I can’t remember but it was not that many with 27 videos. People from the NXT Community started donating to my account I just put up an NXT address and say hey you guys like these videos donate to my account here. And those donations today can get me a couple of houses in Frisco.

And for you guys watch at home Frisco’s probably the wealthiest neighborhood in North Austin I mean North Dallas. Okay, you get two homes here in Southern California you get like a quarter of a home. So I’m just giving you guys an idea, okay, so I did not tell my wife all the time I can’t believe that I made these 20-something videos I just volunteered took the time to do the research share with everybody.

And then because of those videos and the content I produced. It’s allowed me to pay for a house today. So I did share with me don’t ask for permission to go do it, and then if you make mistakes learn from it and make it better. Okay, so we’re good to go, Jason. Alright, so the next project guys that I want to share with you guys here is simply vital health.

It’s in the healthcare of bucket along with many others. Now, this is a new bucket that Cryptocurrency that just started forming like in late 2017, the early generation of Cryptocurrencies were based on building it as a currency as a protocol token, a different thing they really didn’t venture outside of the currency bucket. Until summer late 2017, our team starts to notice that there were a bunch of these projects.

That would pop up that’s related to healthcare, and when we were when we start doing some research on it. We found out that there’s a lot of friction members that we want to eliminate the middleman. A blockchain, is designed to eliminate the middleman, is designed to eliminate the permission list system.

So simply vital health is one of the Cryptocurrency projects that’s focusing on fixing some of the problems. Fixing is a word that comes from the Texas language. Alright so anyway simply vital health is a healthcare a project that’s Cryptocurrency that’s focusing on the healthcare arena.

What they’re doing is that there’s an issue with when like I use myself as an example so I’ve had three heart attacks already okay I’m 43 years old right now. And I had my first heart attack like I think when it’s 33 34. In a couple of years later had another one and then that you later have another one it’s just back-to-back-to-back.

Okay, and people always ask me you know hey did you have a family history whatever, and like my first the biggest cause of having a heart attack when you’re broke. Yes, it’s broke okay growing up in the projects and you have a lot of money you know you always you know trying to figure out how to waste and make money. In my opinion that might be that’s the biggest cause of heart attacks not all the fats and other stuff, anyway, that’s just personal opinion.

Anyway, so when I went and got me I had a really great he was like an army cardiologist surgeon so he put like four stints in my heart in Austin when I had the first heart attack. And then when I moved to Dallas I need to transfer all my medical records from Austin to the Dallas cardiologist. And there’s all this friction and there’s all these issues, and then after I had my first I’m in my second and third heart attack I thought I paid off some of the bills.

And then I would get like a new bill like every 2-3 months, I hate you know this is a bill for your heart attack, your heart procedure. And I’m like I thought I paid stuff already, and then a few months later I’d get another one. And then I couldn’t tell if it was like the Nigerian prince trying to scam me you know for my medical stuff or this really legit hospital bills.

And I would have to waste time calling them up, and I’m thinking like why doesn’t someone figure out a way to just consolidate all these bills and pay all at one time? And have the ability that I don’t have to go through all this friction to get my medical records transferred from one clinic to the next. And it just boggles my mind, and then when I start doing some research on simply vital health.

Now I started to see some of the politics some of the friction. And some of the things that go on, and why these problems exist? and I want to introduce you guys to a Jake Dreier Am I saying this correct? Dreier is okay. And he’s a director of growth an operation for simply vital health. Everybody give him a warm welcome guy and he’s gonna explain to you.

Jake Dreier: Thank you, Tai. Alright so Am I coming through? Okay, so I wanted to actually start by giving you a little bit of background of us as a company. So this is our leadership team and our CEO Kat was was a hospital administrator at Yale-New Haven Hospital.

And she started the company with the idea of solving real-life issues that she was seen in the healthcare industry Which eventually led us to the projects that were they were working on and I’m gonna explained what’s interesting we’ve been able to in a short amount of time been able to get a lot of really really interesting partners in the space that are also being excited about what we’re doing we’re having a partnership with Athena health.

Boost VC is one of our equity backers as is Medmetrics. We have strong ties to Yale that’s where I did my MBA that’s where Kat worked and they’re also one of our equity backers as well. And so what excited about this is the problem with healthcare, and records spend a lot of different issues so from our team advisors.

We have people that have that are working at the Department of Justice,  people that are working at cybersecurity, people focus on Healthcare, people focus on blockchain. Because to solve this problem really needs a lot of different minds at the table, figure out how we can solve the friction. So as Tai was speaking about the different skills you can put to use in the space I am an I’m actually a former High School teacher.

So as the history teacher so to explain the problem with medical records and give you a very brief operative word, a brief history of what’s going on with medical records. Here the United States surrounds around the 80s and 90s with the rise of computers and digitization.

We started to see a lot of hospitals starting to you know digitize their health records because this is a faster, more efficient way of communicating. Around the mid-90s with HIPAA the government realized what we need to figure out a way to to to standardize this.

And so the main concerns for privacy and security how can we keep these records safe, and how can we make sure the people’s privacy is secure. And when they did these supplies started to rise up to meet demand. There are hundreds of different data storage ways that you can store your data to make sure that in order to meet the requirements of HIPAA, it’s both secure and also keep your private.

Now in 2009 during the Great Recession with the stimulus when the government gets a stimulus package. It was 30 billion dollars of that which went to help to digitize health records in the United States. Because even healthcare is a very slow-moving industry so even as of 2009 a lot of hospitals were not were still not digitizing their records.

So that was actually like a very very good thing but it raised it was like a shot in the arm of adrenaline of creating much more digitization of health records in the United States.

But it came with it a different problem with all the different vendors, and people that were working on securing this data. We started to run into an issue where they actually couldn’t communicate with one another.

And because of the concerns on privacy and security, this isn’t actually something that you can just download a pdf and send somebody. And as a result, we have to make a very long story short, we have locked up our data so well that we actually can’t utilize it. In fact, a recent study found it under 30% of hospitals in the United States can actually communicate with other hospitals.

So Tai’s story of having multiple heart attacks is a great example. Let me tell you another example of how this could look imagine you’re on an oncology patient, you’re a cancer patient. You go through a series of expensive and invasive tests, and then you want a second opinion which is very very common.

It can take months for you to get your data at a cost of sometimes up to a dollar a page, which means that you’re looking at literally s bill of several hundred, if not. $1,000 because he’s patient records are sometimes hundreds of pages long. So what happens is a patient in that position is going to redo the same invasive and expensive test.

I read an article that actually estimated there are about 25 billion dollars in our healthcare industry we just spent because of redundant testing. Like this 25 billion dollars just to redo tests have already been done because it’s that difficult to move data from point A to point B. And this is what’s really mind-blowing, we are just talking about patient data.

There are tons of different versions of healthcare data. Does pharmaceutical data this clinical research data. There are data regarding clinical physician credentialing, there is data regarding supply chain logistics, there is…

We’re talking everyone’s mind goes to patients and provider relationships because that’s the most human that’s the most tangible promise of all of us have stories that have experienced something like this.

But again that only a sliver of healthcare data which means and they all have different symptoms. But the overlying line trend is that it takes a lot of time, it takes a lot of money. And our healthcare industry is not living up to its full potential so using blockchain technology we have started to use blockchain to solve that.

Now one of the ways that we’re solving that is using what’s called a key pair system. The key pair system is was actually pioneered by MIT team and one of our advisors Dr. John Halamka has introduced it in Beth Israel Hospital, which is one of Harvard Medical School teaching hospitals.And the way that the key pair system works is this is basically hospital request access to data.

The request is Cryptographically signed, the blockchain confirms the legitimacy of this request. The request is approved at key pair is issued, which then allows someone to securely access data. Now it’s interesting it seems very very basic and when I show this to hospital CEOs I start to glaze over a little bit.

So this is the metaphor that I think about it’s basically what you’re doing is you’re allowing someone to securely peek into somebody else’s Healthcare System and now this is very important for HIPAA one.

Because we’re not changing how the data is stored or just allowing someone access. So wait I described is this, imagine you’re checking into a hotel, you go online you make the reservation that’s like the request in smart contracts.

Then you go to check-in and the teller looks at your reservation and looks at your ID to make sure that they match. That’s validating the Cryptographic signature, and they hand you a key but that key doesn’t open up every room in the hotel, it only opens up the room that you’re allowed to stay in for the amount of time that your reservation was supposed to be. So that’s the smart contracts executing

The person can access the data for the amount of time that they’re allowed only the data that they’re allowed. And then what do they create a record this person just checked in. That’s the audit trail that’s keeping track of every person that’s come in and access this data.

Again this is with really really interesting about this is we’re using this system to create Health Nexus, which is an open-source HIPAA-compliance blockchain protocol. This is another place where when I say we’re building an open-source HIPAA-compliance blockchain protocol and I put up this graph all the eyes that are in the hospital as you start to glaze over.

So let me explain this in another metaphor, imagine an old school Nintendo right, you know you got the old-school Nintendo NES that came with Mauri.

Imagines someone gave it to you for free, it came with some basic games like Super Mario Brothers and Duck Hunt. But anyone could develop games for it. That’s what we’re doing with Health Nexus, it’s free, it comes with some initial functionality just being able to move Healthcare data from point A to point B. But anyone can build off of it which means any of these other issues that we described solving Healthcare data can be addressed.

And just like, imagined you’ve got a free Nintendo, it’s free but you stopped the running electricity to plug it in, you still need the token to execute smart contracts. But the idea is that because it’s free and open-source anyone can build off the amazing potential of these different ideas for solving Healthcare problems in the system. So I know you can’t read this which is fine because I just kind of wanted to go show me the images.

So for instance, the way that works is developers can build on Health Nexus a then healthcare providers can access it. So we already have a revenue-generating healthcare product that will eventually live on Health Nexus is called connecting care. I don’t know if I did great detail about it but it works is value-based care, and allows providers in bundled payment programs to forecast their costs and communicate with providers at different facilities.

We have another example of two Harvard Physicians are actually building on health Nexus. To build a game and an app that relates to Behavioral Health in changing management. What’s exciting again these are because it’s this open-source system user just many of the different examples of how the singular problem of changing Healthcare, an exchanging Healthcare data is holding back this entire system.

So that’s actually we’re in the middle of our token sales if you have questions please please reach out to me. Here is my email address and I’ll actually stop talking that you know it’s been a while and it’s post-lunch so thank you for your time and hit me with any question that you have.

[Applause]

Tai Zen: Any question guys.

Questioner 1: I’m sorry but have you guys thought about how Apple is actually getting into like the healthcare data space and are there any plan to possibly have any sort of like partnership with them or work with them or have our have your protocol work with Apple and all the IOS devices out there?

Jake Dreier: That’s a great question I mean lots of people getting their healthcare data to save space. So it can mean lots of different things, I think the beautiful thing about this is it again it’s free and open-source so any person that wants to build off of it can right.

Now a lot of the conversations that we’re having are people that have specific apps in mind for what to build they have a problem credentialing data they have a problem with you know sharing clinical research data that sort of thing.

But again the beauty of it being free and open-source means that literally anybody that sees potential in solving the issue of exchanging healthcare data is able to build off of it.

Questioner 2: Part of the cost in the duplication of the test is physicians and other healthcare providers are being able to access that previous information quickly. So, for example, I’m a physician and a patient comes for an operation I need to access an EKG that may have been done within a couple of days but I can’t hold up the operating room for very long so how quickly can clinician access this information?

Jake Dreier: Yeah that’s a great question. Literally as as as as long as it takes to request and approve, which also means that an important point in and we see a lot with healthcare data. It’s important to not boil the ocean meaning that right now when we hear this our main automatically goes to a place for like I’ve been living in Texas and I’m moving to Massachusetts and they need to be able to communicate right.

Now and it’s even more flabbergasting to use cases of people were describing are actually groups that live under the same umbrella I’m talking like 4  to 5 hospitals in the same city or the same region that are under the same body but even they can’t communicate. And I mean and that’s shocking that even not even thinking about people at hospitals in different locations, hospitals under the same sort of umbrella can’t communicate.

And so the early use cases for this and I think it would be really arrogant to say that we’re going to eliminate the entire need for duplicate tests. And I think that you bring up a really good point a good point around like there be times where like if life is on the line you have to make that decision I think that some of the early use cases will be it’ll be important to test with.

I would say people that are working on the same umbrella to be able to cut down on communication to establish the line because the request can be instant but you still need someone in their end to like approve it right. Which takes some forms of human communication to know that hey I’m a physician this facility requesting this, I’m requesting this.

To answer your question it can be very very quickly as long as you know click request approve it. But to your use case I think that brings up a really good point around use cases that would probably fall outside the scope of what you would want to be testing in initial stages. Because that’s something is probably more you know 2 or 3 years down the line as opposed to something you’d want to implement right away.

That’s a good question

Questioner 3: Are there any current hospitals currently using this?

Jake Dreier: Yeah great questions so this as in Health Nexus isn’t live yet. So the answer to who’s using Health Nexus answer is no. But right now like I said we’re building up a community of people interested in building off of it. Our products connecting care we have two clients one’s the hospital and one’s skilled nursing facility.

We’re currently in clinical implementation with the skilled nursing facility in and we’ll probably start with our second hospital which is Hartford Hospital’s probably mid Q2 of 2018 to be doing pilots.

Questioner 4: Why do you really want to use blockchain technology for this solution can’t you just use a database with high security on different levels of access. And maybe can you not solve it from the legacy veals?

Jake Dreier: yeah that’s a great question. So right now, if I’m hospital at so the I’m not a technical person so I won’t get too deep into this. The basically the way that the blockchain allows the key pair into the system is what’s called building a client or a gatekeeper.

And it’s just a little bit of code that sits in front of your database that says when I get a key pair request from the blockchain I’ll open my door and allow the add that data to be accessed.

If I imagine if I’m hospital A and you’re in hospital B, if I wanted to not use blockchain I would have to build an incredibly expensive bridge between us with an expensive middle man who then is going to make sure that our data communicate and we standardize.

There are lots of meetings to figure out who’s going to control the data do we have the equal right to it, etc. And if I want to do it again with another hospital I’d have to go through and go through the same process it once you build one bridge you build one bridge if you want to communicate with another hospital you have to do that again.

The beauty of a client and gatekeepers you build it once. And then anybody that uses the blockchain will be able to access via that gatekeeper that client code. Now on top of that this is talking phase 2 or 3 now in the future, there’s actually really fascinating work about being able to use.

Using the blockchain for distributed data and distributed data sources for healthcare technology right. Now that isn’t good for two reasons, one is at right now technology with Healthcare and actual data stored on the blockchain isn’t very good not very efficient, the second thing is there are major concerns on HIPAA compliance so HIPAA is not the ready blockchain isn’t ready.

But I think a lot of people are saying looking online where is it going to be in 3 to 4 years. And that is I think one of the two major hope that in 3 to 4 years blockchain could be at a point, and HIPAA compliance could be at a point with we be able to do that. And then like that’s when the fun really really starts with people being able to have like an immutable record for their data and have all their data stored in one place that’s really exciting.

But again that’s probably version 6 7.0 in the future this is the use case I think right now which would be a really really good. Initial toe dip in the water for the healthcare industry to still solve a problem while still maintaining the security inaudibility which is really important to them as an industry. Yeah you’re right like right now you would need you to you would do you describe everyone need to agree with advantage to what we’re doing.

Again Health Nexus is again someone with 4 to 5 hospitals in their system they can still use it to solve their problems even if someone, not anyone is not like you don’t need mask consensus in order to do that die.

Questioner 5: So anyway like other hospitals need to also jump on the board of blockchain using your solution or similar solution that’s when the most liberal?

Jake Dreier: Yeah and then actually that’s also a big misconception like right now we’re using where you were going to use in the Ethereum blockchain. So if hospital A wants to use it, it doesn’t matter if they’re the only ones that are using it to Vallot because the only thing that’s happening in the blockchain and that smart contracts are validating the Cryptographic signature on the key request.

So you don’t need mass adoption of all the healthcare sort of community to jump at once and say that they’re going to adopt it. Yeah is that you can be a question about Ethereum.

Questioner 6: Oh yeah I was wondering if it ran on the Ethereum but to piggyback on that because. Will there be any plans in the future to create your own blockchain platform in order for security because of Cryptokitties basically crypto kitties days.

Jake Dreier: It’s so funny I was in a meeting against some hospital execs and we told them about Cryptokitties and they just thought it was the most bizarre thing in the world.

So the answer to your question, yes and this is done much more in detail in our white paper we can check out. But we are eventually going to go to a public permission blockchain where all the nodes have to pass HIPAA-compliance tests right.

Now what was the way that we’re doing is we’re having we’re running tests to make sure all the nodes are on our secure. But again once we have I would say built up a strong enough consortium. Then we’re actually going to then start are only HIPAA-compliance blockchain protocol with their own HIPAA compliance nodes using this public permission aspect yet. That’s a really good question.

Questioner 7: I see you got the token sale going on right now do you have any you know advisors that are on your board or you know the permanent names or faces you know such as battling. Or anybody that you know you’ve mentioned Ethereum, anybody in the back you know back end of your business model?

Jake Dreier: Yeah yeah absolutely so I would like I would really really advise you to go to our website where you can see an overview of all of our advisors in the blockchain space. We have Tyrion as one of our advisors from a legal aspect, we have Cooley as our legal representation which is there one of the fields from a legal aspect. And like I said it’s a really really good mix of our board from a hospital cybersecurity blockchain really good mix there.

So again, I check on our website here and you’ll be able to see in greater detail the background of our advisors and our teams that we’re working with.

Russel Siebert: Thanks Jake, just wanna let everyone know my name is Russell Siebert, I’ve been in healthcare technology for 24 years. And I’m actually an investor of the ICO already so happy to answer any questions you might have from that perspective.

Jake Dreier: Thank you, Russel. Awesome. Oh, Tai.

Tai Zen: oh no more questions

Jake Dreier: All right. Awesome well I am unfortunately having to take off for a flight relatively soon. So I won’t be able to sort of staying and mingle afterward please take out my email if you want to chat more we would love to talk with you and thank you so much for your time.

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