It’s Not Too Late

The Big News: It’s Not Too Late

I’ve talked to a lot of people recently who are new to the crypto space, and the general sentiment is everyone feels they’re too late to the party. Their feelings are warranted, I mean, I’ve been in the space for a little over a year, and I still feel I’m late to the game. If you have similar feelings, maybe the following metrics can ease your concerns:

First off, the total cryptocurrency market cap is currently around 130 Billion. That said, many resources predict a single cryptocurrency to eventually reach over $1 trillion in market cap. Investors like Kyle Bass anticipate cryptocurrencies will become a legitimate asset class with a market cap around $10 trillion. In comparison, the market cap for gold is about $8 trillion.

Tommy Lee, founder of Fundstrat, said, “We have some data. There’s only about 300,000 holders of at least $5000 of Bitcoin. That’s like saying the iPhone was in a bubble in 2007 four days into the sale because there were 500,000 iPhones sold.

If you’re worried about Jamie Dimon’s recent claim that Bitcoin is a fraud, then you should also be aware that JP Morgan Chase was one of the biggest buyers of Bitcoin last Friday.

Which leads to my last point. Ray Dalio, founder of Bridgewater Associates (the world’s largest hedge fund), determines how to invest by analyzing who the buyers and sellers will be. So who will be buyers? The chart below shows the phases of buyers starting with smart money, then institutional investors, and then the public. It’s common knowledge that institutional investors are not buying yet due to custodial constraints. Put simply, the biggest buyers don’t have access to it yet!

hype wave

I know we’ve spoken on this topic in the past, but we want to reiterate that  investing in cryptocurrencies is a long term play; don’t give up or get discouraged amid all the negative news.

Now, we want to introduce a new segment to our newsletter, where we will be inviting guests to address a certain blockchain related topic they’re passionate about. This week our guest speaker is Nicholas Potts from ScriptDrop.


Guest Speaker: ScriptDrop

How Will Blockchain Technology Change Healthcare?

The main benefit of blockchain being deployed in healthcare is it will knockdown data silos. The data silos that exist in healthcare now lead to a very frustrating patient experience.  How does it affect you directly?

You, the patient, will fill out the same EXACT questionnaire at multiple physician offices.

You, the patient, will answer the same EXACT questions at multiple pharmacies.

That shouldn’t be happening.

Both of these scenarios happen because of data silos and differences in data structure at your physician’s office and your local pharmacy.

HL7 is the data governing body for the physician side of the world. NCPDP is the data governing body for the pharmacy side. The two data structures don’t always play nice with one another.

To take everything a step further, it’s not always in the best interest of the healthcare organization to share data. It can hurt their business. To deploy blockchain technology in healthcare and get multiple competing companies to all participate can be challenging. Very challenging.

How would one go about getting everyone to see the bigger picture? Loop the patient in and let them make the decision. After all, it is THEIR data. It’s not the data of the organization that is holding it hostage and standing up data silos to strengthen their business and create differentiation.

To all healthcare organizations, it is the patient’s data. To all patient’s, it is your data.

But first, you must build a patient network. If you want to loop them in and give the power back to them, there must be a way to connect with them.

It would be easy for a large healthcare organization to implement a data rich blockchain, with their current patient population. That wouldn’t knock down any of the data silos. It would just become a more secure database.

We at ScriptDrop are approaching this from the patient’s perspective. We’re building our patient network, through our two existing products: prescription delivery and medication reminders. From there, we’re giving the power back to the patient and allowing them to provision access to their own data. Our Adherence Token that the patient receives for interacting with our ecosystem and taking their prescription, as their doctor prescribed, can then be used to pay for their prescription co-pay at any pharmacy in the U.S. They simply have the pharmacist bill the transaction to us.

And the great thing about all of this. Anyone can have access to the patient’s data and customize their care…you just have to ask them first.

That’s the way it should’ve always been.

~Nick Potts CEO of ScriptDrop


Interesting Articles

  • “The first anonymous multibillionaire is being absolutely hardcore about demonstrating to the world that he is not ripping anybody off.” Link

  • Laura Shin writes back to Jamie Dimon telling him why he’s wrong. Link

  • Someone in Texas completed an entire real estate transaction using Bitcoin, and it only took about 10 minutes. Link

  • Google, Apple, Microsoft, and othe big companies are working to make it very easy for consumers to purchase goods online with cryptocurrency. Link (It looks like the trend pointing up in terms of use cases)

  • Vitalik Buterin, the create of Ethereum, spoke this week at TechCrunch’s SF Disrupt 2017. He may just be our generation’s version of Einstein. Also, check out the shirt he’s wearing. Link

  • South African super market tested accepting Bitcoin, but says it won’t be standardizing on it any time soon. Link


Chart of the Week


Last week China put a ban on crypto exchanges. The chart below compares the three different times China has made some type of announcement negatively affecting the price of of cryptocurrencies. From everything we’ve heard, this ban is more of a pause which will be lifted as soon as regulators can ensure investor safety.

The most interesting metric listed below is the change in Chinese market volume dominance from >98% to <15% in 9 months. Here’s another link showing China volume down to 7%.