Recently, the blockchain industry has become highly sought after. At this point, can we really argue otherwise? It’s only February, and yet, we’ve seen a handful of companies move into blockchain technology. This pivot in the corporate world is monumental, and there’s no denying it’s going to lead to some major innovation, it also means the competition in the industry is going to heat up.
So, who, as of right now, is showing the most promise? Has anyone proved themselves to have a competitive edge? Some argue that the Eastman Kodak Company (NYSE:KODK) and its KODAKCoin platform holds promise, while others argue that healthcare tech provider VitalHub (CVE:VHI) is making some waves in the market. I, for one, agree with the latter. Why? Because the company has made significant progress in its fight for blockchain-based healthcare.
VitalHub and Blockchain-Based Healthcare
Based in Toronto, Canada, VitalHub has been developing mobile healthcare solutions since 2015. Now, it has spent the majority of 2018 immersing themselves in blockchain technology. Why? According to a VitalHub press release, the intersection of healthcare and blockchain technology presents a market opportunity for the Canadian company and it first announced its move into blockchain on January 11, 2018.
Since then, VitalHub has kept the ball rolling. On January 17, the healthcare company disclosed that it had acquired Clarity Healthcare Solutions. A few days later, VitalHub disclosed that its subsidiary signed a strategic deal in order to provide more children in Canada with access to critical mental health support.
As for blockchain announcements, it seems VitalHub has a few more tricks up its sleeve. Last week, the Canadian company announced that it is joining the likes of Eli Lilly and PwC as well as Aetna in integrating Hyperledger-based technologies. It doesn’t stop there, either. On February 7, VitalHub revealed a blockchain-based interoperability solution, deemed “WellLinc.”
What do we know about this new blockchain-based healthcare solution? Well, essentially, this interoperability solution is designed to reduce the amount of friction linked with patient records through the use of blockchain technology.
VitalHub seems to believe blockchain-based healthcare solutions hold a lot of promise. I personally am on the same page as this company. However, right now, it doesn’t appear investors on the market have the same mindset.
As of this writing, VitalHub is trading at $0.12, which puts the VHI stock down $0.01, or 8.00%. Considering this nearly 10% drop comes two days after VitalHub revealed WellLinc, it could be argued that investors might just be slowly wrapping their heads around the concept. Other than that, VitalHub seeing red today comes as a bit of a surprise. Why? Because I think blockchain-based healthcare has the potential to change how the world works, and it’s important for companies who also believe this to get out there and fight for it.
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