HLDAO was conceived to democratize access to basic healthcare services by developing an onboarding ramp to financialise healthcare data, that will fund universal basic healthcare (UBH) for all contributing individuals. Through this system, patients are able to contribute their data with verifiable proof-of-diagnosis labels issued by registered medical practitioners (to prevent fraudulent data contributions) whose accounts are onboarded with web3auth and verified against professional registers. All transactions for data annotation and accession are stored transparently on-chain to facilitate financial and clinical research audits. These individuals will be able to participate in the future health data economy by contributing their data for passive income and/or subsidised UBH. This is achieved by contribution of their de-identified health data for purchase by academic and/or industry clients that register requests for healthcare data for research and/or commercial applications, while patients’ identities are protected by cryptography. This is designed to seed a health data economy that provides individuals control over how their health data is being used, as well as accrue value to data contributors such as patients and healthcare providers whom are excluded from the traditional healthcare data economy despite being the primary contributors of health data. In future, the governance of ethical health data commercialisation and additional development of analytics and data visualisation capabilities with clinical relevance will be transitioned to management by a decentralized autonomous organization (DAO) comprising participants in the HLDAO economy including both patients and healthcare providers with voting weighted by their individual level of health data contribution(s). This will be operationalised using existing DAO tooling (currently experimenting with Squads on Solana).
Healthcare is the last multi-trillion dollar market in the United States that has incumbents that are yet to be successfully disrupted, unlike financial services, transport, and retail (CMS NHE Fact Sheet, 2020; Select USA; Ibisworld, 2019). Similarly, in many other countries and regions, it lags behind other industries for digital transformation. Yet, healthcare is an industry that generates trillions of data points daily with vast potential applications from the discovery of new disease treatments to optimisation of individual treatment through personalised care. The coronavirus disease 2019 (COVID-19) pandemic has been a catalyst for digital transformation in healthcare, which is rapidly picking up pace globally. However, a large proportion of healthcare data are never utilised for clinical and/or commercial applications due to conflicts of organisational stakeholder interests (private medical care, pharmaceutical industry, etc) and complexed privacy requirements such as the GDPR. Medical record corporations and custodians treat patient’s data as their intellectual property as well as a commercial moat, as it makes it more challenging for patients to switch healthcare providers. Blockchain is a technology domain with tremendous potential to enhance security, portability, and utilisation of data in the healthcare industry. Leveraging blockchain technology, health data will be unlocked for new applications and unaddressed needs through democratic ideals by disrupting incumbents and spreading power - in giving control of health data back to its end-users. In a web 3 future, this will be based on the individual choice of the patients and healthcare professionals that are the primary data contributors. Empowered with their own data, they will be able to vote against predatory medical corporations with their feet.