ANNOUNCEMENTS
The Story Behind Definitize
This year we have witnessed DeFi take center stage, and its popularity is expected to continue to soar into the new year. Coupled with the...
First and truly decentralized, autonomous, healthcare finance organization launched to deliver real value to patients and doctors worldwide, and managed by the global community
Singapore – 29 October, 2020 – Global healthcare blockchain technology platform Solve.Care has today announced the launch of Definitize, the world’s first Decentralized Autonomous Organization (DAO) for Healthcare Financing.
Definitize is designed to improve access to care, enhancing healthcare outcomes by better serving patients, doctors, and care organizations. It utilizes decentralized finance to democratize healthcare by having the community select and finance deserving projects that create value for communities and generate sustainable returns in a highly transparent manner.
Speaking about the launch, Pradeep Goel, CEO of Solve.Care, said, “The healthcare industry is changing. It is worth over $8.45 trillion and growing, but despite that figure, traditional finance fails to serve the needs of the many stakeholders in healthcare, including patients. Definitize allows for patients to get directly involved in financing healthcare projects, giving them more choice and autonomy. Applying DeFi throughout the healthcare segments will ultimately benefit patients, doctors, and care organizations.”
Built on a community governance framework designed by Solve.Care, Definitize is 100% owned, run, and governed by the global community. The Definitize community approves and funds healthcare projects based on proposals submitted by healthcare product and service distributors. Once approved, asset pools are created to fund specific healthcare projects. Contributors are free to choose which asset pool they wish to participate in, in return for a predetermined fixed interest rate and a share of the pool’s income. Examples of asset pools include device financing, cash flow lending for healthcare providers, and underwriting malpractice insurance, among others.
The community can participate in Definitize in a number of ways, including by staking SOLVE – Solve.Care’s native digital currency – to mine DCARE governance tokens. DCARE governance token mining starts in November, 2020. One can also participate in Definitize by submitting a proposal to the DAO to become a distributor.
Solve.Care also aims to be a distributor for Definitize by providing 4G medical monitoring devices for remote patients, which will complement Solve.Care’s Global Telehealth Exchange (GTHE) offering, a first-of-its-kind global landmark deployment of blockchain and digital currency aimed at tackling the challenges facing the healthcare system today.
Solve.Care recently announced a collaboration with Chainlink to raise levels of compliance and transparency in healthcare. The first use case of this collaboration will result in the building of oracles for Definitize asset pools, providing verified off-chain data feeds that measure the performance and value of each pool.
To participate in Definitize, visit definitize.finance/ for more information.
