1 Confirmation with Jeff and David – Pradeep Goel Solve.Care Trillions in DeFi

1 Confirmation with Jeff and David – Pradeep Goel Solve.Care Trillions in DeFi

1 Confirmation with Jeff and David – Pradeep Goel Solve.Care Trillions in DeFi

Today we cover the top Bitcoin and Cryptocurrency news and Healthcare DeFi is about to explode! Check out our interview with Pradeep Goel as he discusses how the healthcare revolution begins with DeFi.

Jeff: Live from BTC Manager World Headquarters. This is around the block with Jeff and Dave. And I’m Jeff. We have had an amazing year with Bitcoin still between $10,000 and $15,000. We have DeFI that is just taking over the entire space a lot more than any other ICO or any other token that we’ve had to date. In fact, there’s one token Celsius token that has risen more than 1,000% since the start of the year. What do you think about that Dave?


Dave: Sorry, I’m not sure on this [inaudible 01:15]. But, watching this, the whole Bitcoin. I’m unfollowing, DeFI, Ethereum and Bitcoin, so they are like all other ours going down, but they are stable at this moment. The other points are going 50%, down at this point from one and up and up, but they are still in 15% to 10%.


Jeff: Yes, that’s the thing, there’s a lot of regular tokens that are only going up, you know, 15%, 20%, which is a lot more than even the FMP. But there’s a lot more of these, what they call decentralized finance coins. So there’s a series of them. So just to run down the list.

There’s a new decentralized stable coin called OUSD, based on the origin protocol, which is also using the Ethereum network. But it is decentralized, meaning that if you want to trade a Ethereum to the US dollar, you can use that token, and there’s no person or institution behind it. On top of that, there’s another one called, “Polkadot,” which I know is a very strange name, but it’s also a decentralized finance coin. And it has been rising dramatically since inception, it’s now on the top 10 list of tokens that are out there rising more than 500%. Since the launch of this year, it’s also a decentralized protocol for trading between one token and another token. So there’s a lot of these different exchanges that are coming out to where you can now trade from one token to another token, or even from US dollar to a token without having to involve an exchange like Bithan, and Coinbase and that sort of thing. Which may be why Bithan and the last piece of news that we have for today, has decided to be up for sale to South Korean crypto exchange said they’re selling out for 430 million.


Dave: Oh.


Jeff: It’s incredible, right?

So maybe this is a good time for exchanges to go out of business. Because there’s all these decentralized exchanges now, right. So what do you think, Dave, would you trust one of these decentralized finance ways of doing business?


Dave: That’s right. That is the future of the economy. So yes, I trust them. This is a initial life, I’d say that pre mature stage of this. But yes, people are crossing and as I trust them, and I’m using it for some time.


Jeff: Yes, that’s the thing.

Decentralized finance is really different than the world of traditional finance. I think that’s where it’s going to make a huge difference as time goes on. The reason being is that we don’t have to trust any one person, or exchange or system. For example, if you put your trust in Coinbase, and you put your coins in Coinbase, then you trust that Coinbase is not going to go out of business or that the Federal regulators are not going to take the money, which is why perhaps the Federal Reserve is now trying to introduce something called Digital Dollars to try to recapture some of this market. The digital dollar, of course, is being their way of trying to introduce something that almost like a fake token. But here, if you have something like tether USDT, you can use one of the decentralized exchanges to go from Bitcoin to tether. And you don’t have to rely on an exchange to hold your token. So in other words, your keys are kept in your wallet, not in somebody else’s wallets. There is that old saying, not your keys, not your coin. So, I think this is really a way of making sure that you can maintain full control over your money, and that no institution can take over your money, which is the big thing, no institution can take over what you can do in your life.

So, what do you think about that freedom David, do you like freedom, do you like control?



Dave: Everyone likes freedom. I remember like, I used to travel and then exchange the wines and exchange currency. That was like, this is a big, big headache. So, I think this crypto is going to just break all these barriers. And, yes, that gives you a good freedom to everyone.


Jeff: Yes, I think with that health care is probably another area where, there’s been a lot of control in increasing control over people’s health. For example, I know of several cases where somebody wanted treatment for cancer, or for whatever their disease was, and they were unable to get the health insurer, you know, it was sometimes it’s Blue Cross, sometimes it’s one of these other ones to pay for that treatment. Because they came up with some odd reason. They would deny that treatment and people have died, because they weren’t able to get the treatment they wanted. So could you imagine, David, you know, you’re going to the doctor, and they say, “yes, we have a treatment that will save your life but your health insurance company won’t let us do that.”


Dave: Well, that could be like a worst thing I will ever miss, like the insurance companies and all that.


Jeff: So that’s why, I invited and I’m glad to have Pradeep Goel the call today with Altair. So, Pradeep Welcome to the call.


Pradeep: Thank you, Jefferson. Thank you, David. Thank you for having me. Exciting times and look forward to this podcast.


Jeff: So Pradeep, what do you think about you know, the monolithic institutions and perhaps things that we can do to try to make sure that we can improve the quality of care for everybody?


Pradeep: I mean, that is a goal, that we can never challenge that improving access to care improving quality of care improving results of care and making healthcare affordable. I think is become a mission of many, and it’s been a challenge for many generations now. And it remains as big a mission, if not bigger, one, now and the COVID-19 as laid bare a lot of the challenges of our centralized model of care that truly buckled with tremendous in consequences fatal and otherwise, for humanity. I mean, look at the impact on our society and how we have struggled to get that control over our lives. While you can blame the emergence of the virus on the healthcare delivery model, you can certainly agree that the healthcare delivery models both clinical and administrative, and financial underpinnings of healthcare system have really not been up to task for dealing with this kind of a crisis. And it brings to fourth a more desperate and urgent need to look at our healthcare delivery systems on all three pillars, the way we deliver clinical care, the way we administer access to care, and the way we pay for care. All of these three pillars are due for a change and I think, however we like it or don’t like the current model. It is most DeFInitely going to change when we move emerged from this current Coronavirus crisis. Then you look at the growing promise of decentralization coupled with decentralized, decentralized governance and now decentralized finance. And you look at the global nature of what Blockchain and crypto and decentralization movement has done. Healthcare can’t escape that nor should it. Healthcare needs to take advantage of it to make healthcare more accessible, and to run from it by calling it names and rushing away from it as this is not for me this is not for us, is basically saying that human beings are compartmentalized. And what we believe in one part of our brain does not apply to other part of our brain. So if the centralization and distributed ledger technology and the need for the advent of decentralized finance, and the need and value of decentralized governance, these trends aren’t going to go away, even if you bury our head in sand. And I, for one, as a healthcare executive for over the years, believe that the change is due, and the change is upon us. So these are very exciting times indeed.



Jeff: So yes, it’s a really amazing stuff that I’ve been seeing here. And one of the things I thought about decentralized finance actually, a little while back, when I went from my own COVID test, I had a little bit of a COVID scare in that. One of our friends came over to our house with their kids, we did a small gathering, like they said, you know, not more than six people between all of us. But after she went back home, her husband ended up getting COVID from work diagnosed with COVID. So now, myself, my wife, my two kids all had to be tested for COVID. You know, we all went down to the COVID testing plays, and my two kids are automatically approved for the COVID test, there was no problem there. My wife was approved for the COVID test. While I’m filling out the forms, for the COVID test, I handed my insurance card, and they came back and they said, I’m not approved for the COVID test. I couldn’t understand it, why I would be denied for the COVID test. It became a whole snafu I called by insurance company. They also said I was denied and I couldn’t understand it. Finally, after two days of going around and around, it turns out that the testing center simply made a simple mistake when entering my insurance information, they selected like the wrong category or something. That’s why I was denied for the test that I was just thinking, if everything was down to an app level to where, I had more control over, you know, even what forms are being sent to the system. Like I could see the form that was sent, I could see if there was a mistake or something, right. As it was that control that form that got sent to my insurance carrier, but it’s outside of my control with outside of my purview. And I think that’s really where a lot of mistakes happen.

So Pradeep, do you think decentralized finance might help reduce mistakes, help reduce some of the paperwork craziness that we have in our system today?


Pradeep: Well, I think in general, the healthcare model of excluding the patient from these administrative functions, has not worked well. Your example is no different than many such examples. I have been my family and I have been insured with one of the largest health insurers in the world in the US at least. And over the years, I’ve switched plans, I was fully insured by my previous employer then about individual insurance package or group family insurance package of my own.

Every time I call them, they always look me up in the wrong database, which is the database related to my employer 15 years ago. And they always tell me that my insurance policy has lapsed in 2004, or something like this. I always tell them, yes, I know that I was insured by you in 2004, under an employer, but you need to look at your individual plan information. Then they look me up there and then they say, well, yes, but that policy expired in 2012. Like Yes, and then you should a new one and 2012. And that was under a PPO plan. So look there, and after about 20 minutes of directing them through the various system, which I happen to know how those systems are built and how you move across systems that I was there on the backside of those in the data centers. Finally, they discover that yes, indeed, the policy that I’m referring to is still active. And it’s in system number three. I mean, the fact that I as a patient, or as a member had to direct the eligibility expert at this big insurer, which system they should go look at, which means I need to know exactly the entire history of all their systems they have built in the last 20 years, which I happen to now is how I get my eligibility verified. It’s silly, it’s absurd. But it’s just a factor of the fact that we are told the patient that you don’t need to know or do anything, you are a beneficiary, you are not capable of making good decision for yourself, you are a helpless individual who is treated as a recipient of benefits rather than an active participant. And I’ve spoken about this a thousand times that we need to give the information to the patient, the insured member, the father, the husband, the wife, not put it in the hands of an eligibility consultant who happens to have three eligibility systems in front of her and does not know where to look you up. Or if she does, she’s up to make more mistakes because her skin is not on the line your skin is. But these are easy to fix, right. Distributed ledger technology allows us to digitally sign and deliver a certified immutable, non-temporal eligibility card that can then be easily forwarded from the patient wallet to the doctor wallet, thereby eliminating this entire circus and cycle of needing to call anybody, I have a digitally signed card in my wallet, which I can send to you if I come to visit you as a patient physician patient relationship, and you don’t need to verify it any further because the card is signed and sealed and represents the authority of the insurance company to pay the bill. You could even send a token along with the card as a pre-payment and have the insurance company redeem that token. There are so many things that distributed ledger technology does that to streamline all three pillars, the administrative, the clinical and the financial play. And that’s happening, software has been doing that stuff for the last three years. And we’ve seen more and more progress in that area. And even the more conservative organizations are starting to see that in the end their current systems are inefficient for all parties involved, including themselves. So, there is a movement of acceptance in the administrative value of distributed ledger technology. But when we talk about decentralized finance, that’s a whole different ballgame. That’s adding a different dimension to the possibilities of what DLT and Blockchain and crypto can do for healthcare.


Now, we are talking about how does the most complex part of healthcare is who pays what and whom and when, and how does it get financed.

So, I think the decentralized finance committee community probably has not yet figured out and nothing I can see in any written material across all the projects and I study everything. The vast and massive potential of decentralized finance that has been applied to healthcare properly. But before we can apply decentralized finance to healthcare, some things need to put in get and put in place, we can talk about that. The governance model the methodology under which we can identify, and collateralize the need and then deliver on that need through a digital asset. That part should and will get sorted out and we are working on some similar solutions. But the applications are really exciting. So let’s look at this, you know, three application the software is currently exploring very, very carefully and in great detail. The first one is just allowing the physician to practice medicine in a more effective way. So physicians are basically micro businesses, right. I mean, you have some physician practice, or one or two physicians is in effect, a small business that is trying to stay afloat, and is trying to deliver services to patients, and has a unique problem of having to wait anywhere between 30 to 90 days to get paid after delivering the service, and has a unique problem of having to, in effect, collect their money through a very complex process of submitting a claim and defending the claim and waiting for the adjudication of the claim and then appealing the claim. And then, you know, in some cases, going to the administrative law judges to get them to release your claim. Then in the end, you still don’t know what your claim is going to get paid on, but you’re going to get 80 cents on the dollar you build 120 cent. Are you going to get full value of your claim, are you going to get 30 cents on the claim.

So this is one of the unique problems of healthcare, especially in a fee for service model, which is that, you deliver the service on a Monday, and then you submit the invoice for their service to the insurance company 30 days hence. And then you wait, fight, argue and hope for payment for another 60 days, and then you don’t know what the payment is when eventually the day 93 something is going to show up. It might be for the $100 dollars you build, you might get $27 or $72, you have no idea. How are you supposed to run a business like that? This fact contributes to increasing cost of health care, because physicians have charged more to offset all this risk that they are taking on. And decentralized finance can bridge that gap and should we should be able to have the community and I’m a big believer in decentralized finance matter to Oracle’s who are well implemented Oracle’s that can help us do an emotive calculus on what the financial opportunity and the financial need is and set a proper risk reward ratio on it and let the community funded. So, if we could simply think of a use case where the doctors submits their invoices through the Blockchain.

First of all, they should deliver care through the Blockchain. But okay, which case we have evidence that they actually delivered the care. Secondly, they submit all their invoices through the Blockchain and that chain combined with an Oracle can compute very easily or reasonably well. The appropriate receivable value even accounting for all this craziness that the insurance company does in effect, we can have the Oracle or and the community in a decentralized way of pre adjudicate the claim and finance it. And knowing from history, what the percentage of claim payment and percentage of claim approvals we are going to be dealing with. You could offer the physician a beautiful financial product on a truly decentralized way, where the common combined knowledge of a decentralized community made up of risk adjusters and claim reviewers and Blockchain Oracle’s. I guarantee you and I have been on the other side of this adjudication equation, that a decentralized claim adjudication model will be more effective and more accurate than the centralized claim systems that everybody uses. And for the simple reason, the centralized claim systems are coded by a bunch of engineers like me, who are not insurance experts. The algorithms are complex, and everybody is constantly patching these claim systems all the time. And as soon as insurance company introduces a new product or a new payment schedule, you’re going to run back and change all the rules of the adjudication system, and that’s an nightmare. So, they are always behind the times, which means a doctor is always getting screwed. And we can have a decentralized finance community to bridge the gap between service rendered services through adjusted value, finance that and then let the payments come in 90 days hence, and have really strong logic to refute a denial to appeal a denial because your logic is going to be better and stronger than theirs. So long and short of it is, we should think of decentralized finance, not just in terms of speeding up payments, but rather taking the risk out of a health delivery system. If we can mitigate the risk for the doctor by front loading their payment, and letting them bill the defy solution and the defy solution on their behalf bills the insurance company with all the proof and logic that the decentralized community with an Oracle can have the insurance companies is less likely to challenge it. They’re much more likely to pay you faster and pay the full amount or the right amount and the doctor doesn’t have to bear that risk. If the doctor is in a debate that risk, the cost of care goes down, you don’t have to not bake in all this denial of claims into the cost that they charge you. So I think that we can significantly reduce the overall cost of health care for you and I and our kids and our grandkids. If we implement decentralized finance, as a way to mitigate risk for the healthcare system, that’s just one use case. There’s another use case, completely different. I’m a patient, I don’t want to run to the hospital every time I have a cold or a fever, and I need better home care. And I want better monitoring and I want much more closer collaboration with my physician then waiting till I really get sick, and then I show up his office, by the time it’s too late. So the world is moving towards digital health and telehealth and M health. And I want to be able to afford a much more of a at home remote monitoring solution for my family, which my insurance company may or may not agree to, but my doctor agrees. So in that scenario, I should be in the finance and take part of my insurance premium payments that I’m sending, and instead send them to a DeFI pool, which finances these devices. And that my physician also has a stake into so that between me and my physician and this DeFI pool, we are collaborating on my care lot better. So the pool provides me financing the pool provides a doctor financing, my payment to the doctor gets deposited directly into the pool and from there, the physician gets all their payments in any way. And you become this missing piece in the equation where the DeFI pool is sort of the you know you have the doctor patient insurance triangle, let’s create a fourth edge. Let’s make this triangle a rectangle. And let’s put the DeFI pool in this and the fourth edge and have it the risk the patient and the provider in a manner that the decentralized community can sustain and support through analytics and through a desire to add value. And this fourth corner can be incredibly lucrative for everyone. It makes a provider happier the doctor happier significantly reduces their wasted outlay in terms of risk premium that they have to charge. It makes the patient happier they have access to financing, they have the ability to pay the doctor through a single pool rather than pay my doctor here, the lab there, the pharmacy here and the insurer here. It’s a nightmare for me as a patient to figure out who to pay and when to pay, this pool could represent my payment, single point of payment and single point of financing. Then all the other people who need to get paid from your need to pay me have one place to pay, which is much more efficient for everyone. So I envision that the decentralized finance applied properly to healthcare isn’t just about yield and interest rate and income, which there’ll be plenty of, because there’s so much fluff and waste in health care. US alone has a trillion dollars worth of non-healthcare expenses. I think that’s where the decentralized finance meets healthcare is transformative.


Now, I don’t want to say that this is easy, but it’s worth doing, and somebody is going to do it. Because there is too much of value to be created. There’s too much value to be shared with the community, making the patient better making the physician more effective, and stripping out waste and actually making money by doing good and doing while at the same time. I think this is an opportunity that truly leaves me breathless. So, we’re very excited. As we look at the proper application of decentralized finance and healthcare, we believe there are some hurdles to be crossed, the governance model, the risk assessment model, and the Blockchain solves the data collection and immutability problem, but governance and risk management is certainly something that we are working on, in collaboration with some great DAO governance models that we are talking with. But long and short of it is Jefferson and David that the applications that DeFIne health care aren’t just about lending. They’re about re-aligning the risk that the doctor and the patient bear today in a manner that everybody wants and that means to me is phenomenally large opportunity measured in the trillions.


Jeff: Absolutely fascinating.

David, what are your thoughts on that?


Dave: Pradeep is trying to solve and this and that is really a big problem. I saw that while working on healthcare applications, like I got this right, the doctor is waiting and they get claims rejected, then the elites are dictating the things sending it again. So that problem sometimes costly to the doctor and the patient as well that sometimes create a bit of bad relation. Dr. Mahathir, okay, your claim is not getting clear, I’m not going to treat you sometimes. So, it is amazing thing that they’re popping and is trying to put it out and test. I’m sure that this is going to be a really, really treat all the doctor and the patients or they can get really good pay to service.


Jeff: Yes, that’s the thing. One of the things I see with this is that anybody can build this type of application. That’s the whole thing about decentralized finance. Blockchain is that, this opportunity is not limited to just any one person, but any group can now come together and form if they really wanted to a global healthcare company, to cover anybody and everybody on the planet, and to provide good quality health care, for example, using the global telehealth exchange network of doctors. Now you can have, and you can buy into, health care and receive health care, it’s not going to be limited to just people and first of all countries down. So now I see this as an opportunity that 8 billion people on the planet can participate, directly participate in their own health care, that is a more than trillion dollar opportunity for anybody that developed this application.

Isn’t that amazing, David?


Dave: That is really amazing, are like this number of people are going to be on one platform, and that indicating they are getting services in place. So, it is really amazing and paid off.


Jeff: So yes, and I mean, on top of that, just being able to eliminate the waste and the fraud and abuse that’s in the system now. It’s actually going to accelerate the economy even more, I think a lot of people think that this is going to be a job killer. For example, getting rid of a lot of these meaningless make work jobs, but I really see it as you know, this is a trillion dollar increase to the economy and other sectors that could benefit more from that type of work.

So Pradeep, on that faces. I’m just curious if there’s developers and other interested professionals that want to, if you will jump on the bandwagon, what would you encourage him to do, where do they start?


Pradeep: So first, specifically, at Solve Care, we are looking to launch a what is known as a DAO in collaboration with the community and community experts or DAO is a decentralized autonomous organization. And we believe that a decentralized autonomous organization truly focused on the appropriate application of decentralized finance and healthcare should be set up right from the beginning. And it should not be governed by anyone. And that anyone include Solve care, it should be governed in a decentralized manner should be set up correctly, and it should be set up to scale and grow, no matter how many opportunities I see today. And I truly believe that a properly implemented DeFI and healthcare DAO will serve billions and create trillions in dollars. There is no doubt in my mind. But for this to achieve that true global adoption, it needs to be decentralized. So we are setting that up. We’ll be announcing that in the next few days to a couple of weeks, depending on when our legal review is completed. So, I would invite healthcare experts and Blockchain experts and DAO governance experts and smart contract developers to participate in the DAO. Because it’s going to be you who is going to change healthcare, I can and will help create the framework for significant and massive application of this DAO towards real world healthcare needs. I can help craft the solution that you might consider and voting and approving. But in the end, this DAO is far bigger than any one human being. So I’m going to invite people who are interested in truly making the world better and doing good and doing well in the same breath. I think the decentralized organization is an autonomous organization that focuses on proper application of decentralized finance. And beyond that, or in addition to that DLT technology and the advent of proper DAO governance models, and those things, and Oracle’s, which can be implemented to really make healthcare work better, I think we are at the cusp of an opportunity that exceeds anything I have ever seen before.

So this DAO is one open simple vehicle, it’s a very large mission, it’s going to take years, but there is immediate opportunity for this DAO to serve be it in the device financing, or be in the provider cash flow lending business, or be it in the drug discovery and research programs that the DAO could fund and benefit from, or be it in the professional facility construction, community health centers, and financing additional operating rooms and leasing beds, hospital beds to facilities. There are so many opportunities, we have already identified this DAO can run. So, we’ll be announcing that in the next few days. And we invite everyone who’s listening, if you have an interest in healthcare, if you have an interest in finance, if your interest in humanity and humanity’s ability to take better care of itself, you are a believer in decentralization, if you’re a believer that we as human beings can do better than what we are doing today, for ourselves and for our kids come in and tell us what you can do. We will be more than happy to hear from the community. So that’s one.


The second part of it is that there is a tremendous unmet need both at the physician and the patient level in all parts of the world. So, there are lots of opportunities, both in terms of improving access to care from a patient perspective and making the doctor more effective in delivering care. The need not run the current course. So I invite people who are maybe not Blockchain experts or familiar with the decentralization and DAO models to come and tell us their problems and what kind of issues they are seeing in their community, be the lack of primary care facilities, or the lack of access to specialty care or lack of pharmacies, or whatever. And let’s have the DAO look at those and figure out unique solutions that can really help.


So long and short of it is that we want both people who can identify the need, and those who can govern this community and implement the decentralization of finance, intersection with healthcare. And the role of Solve Care and all this is our platform is already gaining traction around the world. We would like to-we are going to offer and support the leveraging of our platform to advance healthcare by marrying into DeFI solutions that the DAO publishers so we are essentially a channel that connects the decentralized finance products to actual end provider and patient. Because they have our care wallet, they have our provider wallet, they’re part of a global telehealth exchange or diabetes care network or a provider reward program.

The one of the biggest problems that DeFI solutions are that they’re sort of insular. Now we are trading with each other, we are borrowing coins from each other, they yield forming each other’s assets. But it doesn’t really manifest itself to how it affects somebody who is not in the E-Farming space.


And our software platform is a bridge to that human life and human health that is needed to actually bring real value of the DeFI to an average person on the street. So that combination of a DAO and Solve Care platform which we are making available for the DAO to leverage as well as the experience that me and my team have and other members of the DAO will have. This is an opportunity for you to participate in a way that I think all of us will look back and say remember the time when this was just the beginning and look how far we have come I think in five years or less, we’ll look back and say look how far we have come in changing the way healthcare works and look how much value we have created. That’s my belief. And I invite all of you to participate in the DeFI solution and DeFI DAO that we are launching.


Jeff: This is really amazing stuff. And it’s going to really truly revolutionize healthcare over the upcoming years, I see this as something that will actually add trillions of value to the economy. I’m just blown away by the-and if you think the Unifi token or the Polkadot token is amazing, just wait till any one of these health care costs, and it’s come online to where 8 billion people can participate directly in their health care solution, or, and the discovery of pharmaceuticals or, the building of more healthcare options for people around the world. This is a world changing. And I would even argue–




Pradeep: Jefferson, I forgot to mention one thing you just brought my attention, if I may bring it to light. Sooner, very soon, we are going to have a challenge where even though in vaccine is discovered and approved, we are going to have a real problem in making the vaccine accessible when it is needed the most, right. And we know that this virus is killing the economically disadvantaged in greater percentages than any other part of the society. So how are we going to get this vaccine distributed having to get it, you know how we’re going to make sure that it is affordable, it’s available, there is a distribution channel that is fair and equitable so one of the things that I was thinking about unarmed and blue sky thinking here. Now what if we set up a DeFI pool, which was primarily responsible for buying or financing the distribution of vaccine around the world, where we could then have physicians, be the subscriber to that pool and be able to distribute vaccine wherever it needs to go instead of relying upon highly centralized, highly controlled governmental and distribution channels. Because you know very well, that there’s going to be a lot of middlemen with their hand in your pocket, when the vaccine becomes available, trying to control the availability and the pricing of it regionally. And there is an enormous human need and a global opportunity for us to think about how the vaccine is going to be distributed and how it’s going to be made accessible to those who aren’t privileged or don’t have access to beautiful supply chains that some part of the world has.

We know that governments are going to struggle, we know that the distribution will be unequal and the pricing will be very, in many cases going to be extortionist level of pricing. And whenever there is human suffering, there are people who love to profit from it. Profit is good, but it shouldn’t be at the cost of human life and the cost of people’s ability to take care of their loved ones. Fair profit is fair. The scale of this problem is so big that even fair profits are staggering in scale. So I challenge the DeFI community to think about, and again, this is one of the challenge I’m going to put forth through the DAO Governance Committee on day one is what is our role in ensuring that the vaccine is distributed in a manner that is equitable and speedy and effective.

So that’s another thing I want to put in front of the community to say, look, the problems we’re trying to solve aren’t just about how to make money from our assets, we should and we will, it’s also about how do we impact humanity for the better and to do so in a manner that we can truly impact a billion people not you know, 800,000 or 80 people. So this is the intersection of not just DeFI and healthcare but the reality of the humanity with it, stricken as we are with the Coronavirus. It is the right time to do this.


Jeff: Yes, another amazing innovation here and a great challenge and something that’s actually immediately solvable using the tools that are right in front of us decentralized way to distribute the virus, that’s right. The antivirus solutions or vaccine solution, all of that to the people that need it most. I think that’s one of the things we have seen already Apple has introduced all the COVID trackers and things like that. And just imagine if you can marry DeFI to that and the Blockchain to that, you could actually very quickly get the vaccine into the hands of the people that absolutely needed the most, to make sure that the community and the world is protected from outbreaks. This particular outbreak is actually it’s bad. But it’s not as bad as it could have been, right. Imagine, if we’re considering the amount of global community transportation that we have going on today, and the reliance that we have on the global community. Imagine if this was more like the plague or like smallpox, with that kind of a transmission rate. It’d be extremely bad. But if you had something like Blockchain enabled decentralized finance enabled solution like this, I can imagine it would very quickly react, and make sure that people are protected immediately from further outbreaks. So, this is a great, great, multi trillion dollar opportunity that’s in front of us now.

So, I think probably one of the next steps is I’d love to see a list, you mentioned challenges Pradeep, I think that would be great to put that forward to the community, you know, these couple of challenges and I think they’ll respond.


Pradeep: I’ll be more than happy to, and I won’t be. As part of the, the documents and the DeFI healthcare constitution that we’re working on which underpins our belief that take care of the patient and empower and enable them to take care of themselves and their family, and empower the physician to be effective at their job, or instead of pouring them into administrative and financial nightmare has to underpin the proper application of DeFI. And if you follow those principles properly, the opportunities become pretty self-evident and enormous in scale. So, I will be happy to share this document. My team is reviewing the final drafts of it, along with the constitution and other documents that we are publishing that underpin what this healthcare DeFI DAO looks like, and I would welcome community’s comments and feedback. So I will have my team get in touch with you Jefferson and shared with you the links to all the documents, as soon as they’re ready to go public, which should be in the next couple of weeks.


Jeff: Amazing.

So Pradeep, I really thank you, sincerely for continuing to work on this, it have over the years, your passion, I really appreciate and support. So yes, this has been great.

David, do you have any final thoughts or questions while we’re here?


Dave: Well, I’m really amazed and no question so far. DeFInitely, I love to see the document that the team is here, and I really want to participate in that because I can see the future and this participation might be taking us on a new height. I really wants to participate in that and thank you Pradeep for all your explanation on this.



Pradeep: Have you as part of the DAO. So we will send you and Jefferson the invites and the information about how to become part of the either the governance committee or part of the community expert pool, but there is a lot of ways that you can participate and we’d love to have you there.


Jeff: We DeFInitely felt the community at wired, you know the invite. Anybody and everybody that has an interest in healthcare, to participate in this amazing decentralized future that we can now create and participate directly and I think it’s a great, great opportunity for us as a humankind to go forward. I mean, just as a final thought, you know, just as Elon Musk has been pointing into some amazing directions like the Moon and Mars and so on. Here where you have within the Bitcoin space Pradeep pointing us into ways that we can innovate with healthcare with doctors and physicians and patient all collaborating into the future of their own healthcare directly participating. And the creation of vaccines and pharmaceuticals, and even other technology solutions that we may not even think of right now but are coming to really improve our own health, which is probably the most important thing that we can do in our lives, it’s to maintain our health, right.  So, I can’t think of a better way to do it.

So thank you very much, Pradeep. I really appreciate it.


Pradeep: It’s my pleasure to be here. Thank you Jefferson and David. It’s always a pleasure to chat and we appreciate the opportunity to share our views with the community. We look forward to sharing information I mentioned with you and the community in the next week or two.


Jeff: So thanks again, this has been around the block with Jeff and Dave and I’m Jeff. And thanks for having us.

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