THE LEADING HEALTH DATA HUB - TAKE PART IN OUR JOURNEY OF BUILDING - ICO WHITEPAPER - The Blockchain Day
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ICO WHITEPAPER
VERSION SEPTEMBER 28TH 2018
TAKE PART IN OUR JOURNEY OF BUILDING
THE LEADING HEALTH DATA HUB
FOR THE 21ST CENTURY
1
0. PREFACE
SECOND GENERATION ICO
INVEST IN A MARKET-PROVEN BUSINESS
Our goal is ambitious, but our ecosystem is the logical solution to a global challenge – making health data safe, secure and
compliant. With our expertise in IT and healthcare, we are creating the leading next-generation health data hub. Our goal is to
facilitate the exchange between users, providers and other healthcare professionals and therefore act as a trusted intermediary
between different stakeholders.
AN ICO YOU CAN BANK ON
• You are contributing to a proven business model
• healthbank cooperative equity is an asset and security token
• Targeting long-term leverage
PRIVACY YOU CAN BANK ON
• We are a trusted, open, neutral & independent
health data ecosystem provider
• We are re-defining the use of health data
GOVERNANCE FOR THE PEOPLE, BY THE PEOPLE
• We are a cooperative: owned by the people,
controlled by the people and serving the people
An investment in healthbank translates into an ethical and sustainable contribution to the growth of the single most important
trading hub for health data worldwide. While the global market for digital health is estimated at $7 Trillion per year, we aim at a
ROI of 32% within the first four years.
21. TABLE OF CONTENT
FIND YOUR WAY AROUND
2 DISCLAIMER 3 5 GOVERNANCE TO THE PEOPLE 14 6.4 system mechanism of 20
healthbank platform and
3 SUMMARY 4 5.1 GDPR Compliance and 14 interaction with HBC tokens
Consent Management 6.5 Token functionalities 20
4 PRIVACY YOU CAN BANK ON 6 5.2 healthbank Business 15 6.6 Timeline & Tokenomics 21
4.1 The Problem and Market 6 Model: C2B2B
Potentials 5.3 Internet of Values and 17 7 HEALTHBANK’S TEAM 23
4.2 Foundation of healthbank 8 Blockchain Utilization 7.1 Executive Team 23
and its ICO 7.2 Board of Directors 23
4.3 healthbank’s Develop- 9 6 AN ICO YOU CAN BANK ON 18 7.3 Extended Team, Advisors 24
ment Roadmap 6.1 HBE public token 18 and ICO Partners
4.4 healthbank’s Open 10 and the ICO
Ecosystem 6.2 Complementing HBC 18 8 FINANCIAL STATEMENTS 25
and Use Case Demo as a healthbank internal token
4.5 Solution(s) Description 11 6.3 System mechanism of 19 9 GLOSSARY 27
and Use Case Demo healthbank cooperative
and HBE tokens 10 LINKS AND SOURCES 28
2. DISCLAIMER
IMPORTANT INFORMATION FOR THIS WHITEPAPER
This Whitepaper is provided by health- challenges, competition, and a chang- any changes. The latest version of the
bank cooperative for informational ing environment. We will try to update Whitepaper in English is available at the
purposes only. Nothing in this White- our community as things grow and website https://healthbank.info.
paper shall be construed as an offer to change, but undertake no obligation to While we make every effort to ensure
sell or buy securities in any jurisdiction, do so. healthbank cooperative is a very that all data submitted in the Whitepaper
solicitation for investment, or investment ambitious undertaking that may never is accurate and up to date at the point in
advice. This Whitepaper does not regu- succeed. time that the relevant version has been
late any sale and purchase of healthbank disseminated, the proposed Whitepaper
cooperative Tokens (as referred to in the Due to the retrospective nature of regu- is no alternative to consulting an inde-
Whitepaper). The purchase of health- latory action or guidance, we can make pendent 3rd party opinion.
bank cooperative Tokens is subject to no guarantees regarding the legality of
the Token Sale terms and conditions. the healthbank cooperative Token, and This Whitepaper does not constitute an
the Token launch in any given jurisdic- agreement that binds healtbank coop-
This Whitepaper describes the current tion. healthbank cooperative Tokens may erative and healthbank innovation AG.
vision of healthbank cooperative . While not be available in certain countries. healthbank cooperative, it’s directors,
we intend to attempt to realize this healthbank cooperative Tokens are officers, employees and associates do
vision, please recognize that it is de- non-refundable and are not for specu- not warrant or assume any legal liability
pendent on quite a number of factors lative investment. No promises of future arising out of, or related to, the accu-
and subject to quite a number of risks. performance or value are, or will be racy, reliability, or completeness of any
It is entirely possible that the realization made, with respect to healthbank co- material contained in this Whitepaper.
of the vision of healthbank cooperative operative Tokens; including no promise To the fullest extent permitted by any
will be impossible, or that only a portion of inherent value, continuing payments, applicable law in any jurisdiction, health-
thereof will be realized. We do not guar- and no guarantee that healthbank co- bank cooperative disclaims all liability to
antee, or warrant, any of the statements operative Tokens will hold any particular you and everyone else in respect of the
in this Whitepaper. They are based on value. healthbank cooperative Tokens content of this paper, whether under any
our current beliefs, expectations and hold no rights in healthbank innovation theory of tort, contract or otherwise, and
assumptions, about which there can be AG. whether in respect of direct, indirect,
no assurance; due to various anticipat- consequential, special, punitive or similar
ed and unanticipated events that may This Whitepaper may be updated or damages. Persons who intend to pur-
occur. Blockchain, cryptocurrencies altered, with the latest version of the chase healthbank cooperative Tokens,
and other aspects of the technology Whitepaper prevailing over previous should seek the advice of independent
used by healthbank cooperative, is in versions, and we are not obliged to give experts before committing to any action
its infancy and will be subject to many any notice of the fact or content of set out in the Whitepaper.
33 SUMMARY
THE PROBLEM By operating a health data exchange the development of services, apps,
platform, with the users request we integration of partners, and data pro-
Health data today is complex – it often connect different stakeholders in the cessing on behalf of the users.
is stored in closed ecosystems, sits dor- healthcare ecosystem. healthbank
mant and is nearly never seen by the end provides an independent and neutral ICO INVESTMENT OPPORTUNITY
user - the patient. Exchanging personal solution, that only the user has access
health data is difficult – patients and care to. What’s more, with the users permis- • A market-proven, operational, live
providers rarely have a complete record sion, we can also process and exchange tokenised healthcare ecosystem with
of an individual. their data. user traction
• Existing live partnerships with over
OUR SOLUTION HEALTHBANK TODAY 200,000 users
• An agressive roadmap for services
healthbank is revolutionising how per- Today, healthbank is healthbank coop- and user apps to develop the health
sonal health data is exchanged, stored erative and healthbank innovation AG, a bank ecosystem
and monetized. Whilst health consum- symbiotic organisation: • Equity token raise in lieu of a
erism is driving how care is delivered • healthbank cooperative is the core Series A venture round
and accessed, patients increasingly have solution which stores patient data • FINMA approved ICO regulatory
more data and choices at their fingertips. on a fully secure digital platform - compliance
healthbank’s ecosystem enables users to governened by people (members) • A team of experienced healthcare
securely store and exchange data with a • healthbank innovation AG is a subsidi- practitioners, technologists and
range of healthcare, pharmaceutical and ary of healthbank cooperative and the regulatory experts with a track record
wellness and lifestyle service providers. platform manager responsible for of scaling new digital health solutions
HEALTHBANK COOPERATIVE HEALTHBANK INNOVATION AG
• Neutral, independant and • Platform management & maintenance
safe data infrastructure • Partner management
• Granular user consent for data sharing • Data processing & data analytics
• People-owned control mechanisms USER CONSENT
PEOPLE-OWNED NEUTRAL COMPLIANT
PROFITABILITY OUTLOOK PRIVACY REGULATION VISIBILITY/AWARDS
We aim to break even within 4 years. The new European privacy data regula- ∞ Healthub Vienna 2018 participant
tion (GDPR) as per May 25th, changed ∞ TEDx Basel Talk 2016 and 2018
Key Achievements: the market completely. No personal data ∞ pwc/seif BOOST Program 2016
∞ users: > 200’000 must ever be stored without explicit and ∞ Digital Health Global 100 (‘14, ‘15, ‘17)
∞ previous funding: informed consent, of each respective Award winner
CHF 2.7 M user. healthbank is GDPR compliant and ∞ InsightCare: Top 10 most innovative
∞ B2B projects: 5 provides a GDPR solution to partners. digital healthcare solutions.
ICO Timeline SELECTION OF OUR PARTNERS
∞ Q2 ‘18 Private Sale
∞ Q2 ‘18 FINMA compliance
confirmation
∞ Q3 ‘18 Pre-ICO
∞ Q4 ‘18 ICO
moving data, securely
43 SUMMARY
THE HEALTHBANK ICO PRIVATE SALE PRE-ICO AND ICO
healthbank will launch an Initial Token The healthbank ICO is in lieu of a Series Investors at the public pre-ICO stage will
Offering in Q3/2018 to finance devel- A venture growth funding. Private sale receive a 25% discount of HBE Tokens,
opment of the healthbank ecosystem. investments receive equity secured by which will take place in Q3 and Q4
healthbank will issue the HBE Token, existing assets of healthbank coopera- 2018. The public ICO crowd sale will
which will hold financial equity rights of tive; private sale investor receive a 30% take place in Q4/2018 and stay open
healthbank cooperative (Anteilsscheine) discount of the ICO sale price. As an for approximately ten weeks, or until
and include dividends. Financial equi- option post-ICO, HBE Tokens can be the maximum funding target of CHF
ty rights have no voting rights per se. used to fund projects on the healthbank 27’600’000 is reached. 15% of HBE To-
The issuer of the Tokens is healthbank platform and to incentivise the exchange kens will be reserved for user incentives
cooperative. of health data (B2B only). and onboarding – to grow the ecosys-
tem. 20% of the tokens are held for a
HBE Token investors have the option to MEMBERS SALE AND TEAM future growth plans.
exchange HBE Tokens to HBC Tokens
for healthcare services and to exchange Existing healthbank cooperative mem- WHY SHOULD I INVEST?
HBE tokens in the public market. bers and the founding team in health-
bank cooperative hold the existing equity By investing in healthbank cooperative,
1. Blockchain: The HBE Token is imple- share capital of CHF 23’000.00 constis- you invest in a MARKET-PROVEN BUSI-
mented as a standard ERC20 token run- ting of 2’300’000 financial equity rights NESS with:
ning on the Ethereum blockchain. The (Anteilsscheine) as per June 30th 2018 - an ICO you can bank on
tokens are issued through a crowdsale with a nominal value of CHF 0.01 (one - privacy you can bank on
(ICO) smart contract to Crypto and Fiat cent) per share. Since the foundation of - governance for the people, by the
investors, who are compliant to KYC/ healthbank, no dividends have been paid people
AML rules defined by FINMA. out.
During the member sale and before the WHAT IS MY RETURN ON INVESTMENT?
2. HBC Token: The HBC Token is an in- pre-ICO, existing members will be given
ternal token and can only be used within the opportunity to buy HBE Tokens at As a primary return on investment, a
the healthbank platform to a) redeem a 30% discount. The healthbank team token investor will receive a regular divi-
for health services b) receive for services and advisors will be incentivised by an dend of platform profits.
or health data exchanged by individual issuance of max. 5% HBE Tokens upon a After the ICO, the HBE tokens are
users or c) exchanged 1 to 1 for HBE To- successful ICO. An appropriate vesting planned to be traded. Therefore, the
kens. HBC Tokens are meant to incentive period is installed. HBE token will follow a market price.
ecosystem stakeholders to exchange The secondary return on investment, the
health data and develop services on the increase of value of the company, will be
healthbank platform. reflected in this market prize. Financially,
we expect a solid growth of our compa-
ny’s value by a factor of 12 over the next
four years, which we see as a solid and
realistic return on a rather conservative
investment within the ICO sphere.
54 PRIVACY YOU CAN BANK ON
4.1 THE PROBLEM AND MARKET POTENTIAL
Over the last couple of years, it became From then on, no personal data must
common understanding that Digital ever be stored, processed and ex- Data Silos and
Closed Systems
Health technologies will foster growth changed without the explicit and in-
opportunities for all relevant stakehold- formed consent of each respective user.
ers in the market. This is through per-
sonalized medicine, enhanced services This is where healthbank brings change
and better care. Through fast decision to the market: by operating a health data
support systems and streamlined pro- exchange platform, we connect different
Lack of Connectivity
cesses, doctors can spend more time stakeholders in the health ecosystem – if
and Interoperability
with what’s most important to them: the user wishes so. We provide an inde-
the patients. pendent and neutral solution that only
the user himself has access to. And we Market Specific
The current markets are, however, far process and exchange data with other Regulations
from being innovative and user friendly. people only, if the user chooses to.
The challenges in digital health can be
summarized in three main items: We are further convinced that users can
get incentivized to actively engage in
• health data is heavily siloed without generating, storing, and sharing their
the interoperability that would be data through fair rewards. Everybody is General Data
needed. talking about “data as the oil of the 21st Protection Regulations
• health data is subject to various and century” – and we believe the user and
significant regulations. owner of this data deserves his or her
Data Ownership
• health data is subject to severe fair share. We therefore help the user
and Compliance
security, compliance, and data monetize their data through rewards
ownership issues. for sharing.
One particular aspect to mention in this We believe that by doing so, we bring
context is data protection. Europe’s new significant cost savings in the health-
data privacy regulation, the General Data care sector, whilst fully complying with
Lack of User Control
Protection Regulation (GDPR) came into a maximum of data protection and data
and Sharing Consent
force in May 2018, and changed the control. This in turn will enable real
market completely. innovation through co-creation.
INNOVATION DRIVES THE FUTURE IN HEALTHCARE
TODAY
150 billion $ • little patient generated data
• large amount of HCP generated data
• data silos & no overlap
healthbank solution
100 billion $ TOMORROW
• much more patient generated data
• still data silos
• still no overlap
50 billion $
IN THE FUTURE WITH HEALTHBANK
• an innovation oriented ecosystem
• much more patient generated data
2015 2020 • meaningfull overlap
User generated data
HCP generated data
64 PRIVACY YOU CAN BANK ON
4.2 FOUNDATION OF HEALTHBANK AND ITS ICO
THE FOUNDING IDEA “for-meaningful-profit” company where OUR VISION
“one-person-one-vote” counts. All this
It was May 2013 when, an international established in the stable political and Since the foundation of healthbank,
team of 28 academics, entrepreneurs economic system of Switzerland. many things have changed: the mar-
and experts in the healthcare industry kets, the applications available, as well
founded healthbank cooperative. The Since then, healthbank has participated as healthbank’s look and feel. However,
goal was to give back control over the in more than 60 conferences and events. one thing always remained the same:
asset class of personal health data to After recruiting a senior executive team, our vision. “We empower people across
the rightful owners: the people. And no healthbank also started to execute on its the globe to exchange their health data,
other organizational structure can business model, with the establishment on our uniquely neutral and independent
provide better control by people - and of the operation subsidiary company, platform. healthbank drives innovation in
bring all stakeholders of an ecosystem healthbank innovation AG in July 2015. health sciences, from prevention to cure,
better together - than a Swiss cooper- healthbank innovation AG is a subcon- at a better price with better quality; for
ative. It is owned by the people, con- tractor of healthbank cooperative, and the benefit of both the individual and the
trolled by the people, and the profit goes particularly responsible for the opera- society.”
back to the people. Or simply said a true tional services on the Swiss market.
HEALTHBANK TODAY
neutral and safe data infrastructure, One principle is unique to healthbank
Today, healthbank is healthbank coop- the “watch-dog” over people’s data. as one organization: the unconditional
erative and healthbank innovation AG, • healthbank innovation AG as the consent to connect data sources, to
a symbiotic organisation that jointly subsidiary of healthbank cooperative store data, and the consent to process
provides a people-owned, neutral, and and platform manager who is respon and exchange health data on behalf of
compliant health data platform: sible for the development of services, the user.
integration of partners, and data pro
• healthbank cooperative as the cessing on behalf of the user (aka the OR IN SHORT: WHEN IT COMES TO HEALTH
provider of the people-owned, people). DATA, WE PUT PEOPLE IN THE CENTER.
HEALTHBANK COOPERATIVE HEALTHBANK INNOVATION AG
• Neutral, independant and • Platform management & maintenance
safe data infrastructure • Partner management
• Granular user consent for data sharing • Data processing & data analytics
• People-owned control mechanisms USER CONSENT
PEOPLE-OWNED NEUTRAL COMPLIANT
THE ICO REASON bank ecosystem. To harness network is fully compliant with Swiss financial
effects that can incentivize growth of all market regulations, which has been con-
For the past several years, healthbank parties: a) the cooperative members and firmed by FINMA (Swiss Federal Financial
has been growing its multi-sided the partners that will use and generate Markets Supervisory Authority).
ecosystem of partners on our platform health data, and b) the user that can
as well as users and members. This is benefit from better services. Starting in 2013, the strategy was to run
critical to the growth of our platform a social crowd funding project (Indigogo
business, to develop users and consum- Furthermore, our overall ICO strategy is or similar at this time). With an ICO, we
ers of health data of any kind. The ICO a distinction from most existing ICO pro- have found the perfect crowd funding
is the next step in growing our business, cesses, by taking a long-term view that tool: we give everybody the possibility
through the effect of tokenizing our embodies the cooperative ethics, and to contribute to the success of a neutral
services. By offering an equity token, we sustainable business model, which is a and independent health data ecosystem
give anybody the possibility to benefit foundational value of the healthbank co- whilst benefiting from it through lower
from the growing value of the health- operative. Therefore the healthbank ICO cost and long-term profit.
74 PRIVACY YOU CAN BANK ON
4.2 FOUNDATION OF HEALTHBANK AND ITS ICO
THE ICO ISSUING COMPANY INFORMATION
The issuing legal entity of the ICO within healthbank is The financial equity rights (Anteilscheine) convey the right (1)
healthbank cooperative registered as “HealthBank Genos- to a proportion of (a) the cooperative’s net profit, and (b) the
senschaft” (company number CHE-266.308.346). residual value upon liquidation, and (2) to subscribe for new
financial equity rights (Anteilschein), any other resolution of
healthbank cooperative is a cooperative established under the General Meeting being reserved.
Swiss law with registered offices in Baar (Zug/Switzerland) at
Blegistrasse 12A, CH-6340 Baar. The General Meeting takes decisions pertaining the use and/
or distribution to financial equity rights (Anteilschein) holders
The cooperative’s main business purpose is to promote the of the net profits (dividends). Dividends are limited by law
business, personal and social interests of its members with to the local standard interest rate for long-term, unsecured
regards to safety, accessibility, use and value (economic and loans.
other) of their health data. This is regardless of if it is gen-
erated in the management of illness or the promotion of The Board of Directors has defined the final terms of issue of
well-being, and to advance relevant stakeholders’ interests, the public ICO according to this Whitepaper and the Terms
in particular the public, by furthering health data accessibility & Conditions prior to the Pre-ICO, dated on September 24th
to enhance medical research. 2018.
The cooperative may establish branches and subsidiaries in The cooperative’s assets alone are liable for the payment of
Switzerland and abroad; it may participate in other compa- its debts. Members are not affected by any personal liability.
nies in Switzerland and abroad. It may acquire, hold and sell
real estate and carry out economic, financial, commercial Financial equity rights (Anteilscheine) holders have no voting
and any other activity which is directly or indirectly connect- rights, unless they wish and qualify to become also a member
ed to the cooperative’s purpose. of the cooperative according to the Articles of Association
of healthbank cooperative. The voting rights of the members
The cooperative forms an (unlimited) equity share capital are equal and no member has more than one vote upon
(Anteilscheinkapital), which is divided into financial equity each matter submitted to a vote at the General Meeting.
rights (Anteilscheine) with a nominal value of 0.01 (one cent)
Swiss Francs each. Information to members of healthbank cooperative is com-
municated by mail (not registered) or E-Mail to the address
As per 30 June 2018 equity share capital (Anteilscheinkapital) registered in the member register at the time of communica-
is CHF 23’000.00 constisting of 2’300’000 financial equity tion.
rights (Anteilsscheine) as per June 30th 2018 with a nominal
value of CHF 0.01 (one cent) per share. Since the foundation For detailled information see the Articles of Association of
of healthbank cooperative no dividends have been payed healthbank cooperative available at its registered offices.
out.
The 2017 audited financial statements with audit report and
the non-audited interim financial statements as per June 30th
2018 of healthbank cooperative are attached in the annex to
this whitepaper.
“With the fast-growing public awareness about the
importance of data privacy, the time is right for
healthbank’s further expansion of its unique open
source health data privacy platform.”
Michael Dillhyon, Member of the Board and Founder
84 PRIVACY YOU CAN BANK ON
4.3 HEALTHBANK’S DEVELOPMENT ROADMAP
Since the foundation of healthbank, we • Switzerland’s biggest pharma founding HB cooperative
with 35 founding members
have made some significant progress logistics company, Galenica;
both in development as well as previous • one of the leading pain application 5/13
funding rounds: providers, Sanovation;
• Rehaptix, a rehabilitation app for
founding HB
6/15
Since 2015 we have defined partner- motoric disabilities; as well as innovation AG
ships, created strong visibility and gained • Haako Data Linker, a secure applica-
a positive reputation. One notable tion to transfer health data securely.
7/16
example of one of our tech partnerships,
in 2016 we teamed up with Microsoft In terms of visibility, we have been go-live first
release of platform
and RISE, an Austrian eHealth develop- selected by the Journal of mHealth three alpha release
7/16
first B2B customer
ment expert, to build the most secure times for their ‘Digital Health Global roll-out first
mobile apps
and scalable solution for people’s health 100’ award. We took part in the pwc/seif
data. boost program, and are currently part of 7/16
Health Hub Vienna accelerator program.
On the academic level, we have a In 2016 and 2018, healthbank CEO Reto
second release
partnership with EPFL in Lausanne. Schegg was invited to speak at Tedx in platform 7/16
Basel.
On the project side, we defined part-
9/16
nerships with: Overall we’ve achieved a lot over the
last years: We secured 2.7 M CHF in beta release
first B2B customer
previous funding, closed five B2B architecture
5/17
decision
projects, and onboarded approx. 200k
200’000 users. users
3/18
ACADEMIC PARTNERS
platform 2.0 on PaaS
and end2end encrypt
6/18
7/18
3 B2B
customers live
pre
ICO
9/18
PARTNERSHIPS / COOPERATIONS health data market
place ready
10/18
public
ICO
11/18
3/19
moving data, securely
emerging market
application ready
A.I.
VISIBILITY
94 PRIVACY YOU CAN BANK ON
4.4. HEALTHBANK’S OPEN ECOSYSTEM
When we say that we are operating We believe that, if we connect all those • We further believe in a trusted multi-
a health data exchange platform, by sources guided by the following two source data management, building
connecting different stakeholders in the basic principles; we will provide the “real-world patient information”
health ecosystem, we literally mean to ground for real innovation: – but only if the user agrees to do so.
connect an entire - and most important-
ly: open ecosystem. • We believe in competition of services By providing this open ecosystem to
applications, thus would never the user, whilst putting the user consent
In order to gain maximum benefit for the prohibit different service or product right in the middle of all, we enable trust.
patient and user, we will need a critical providers offering a similar service
mass of all kinds of different stake- on our platform. Why do we believe Trust means that data will only be gen-
holders in the market, who provide or so? Because competition enables erated, stored and shared, if it’s mean-
demand: choice for the user. Choice in turn ingful and in the very best interest of the
makes the user benefit from the user - and most importantly only with an
• Services such as mHealth App Provid- solution that suits him or her best. explicit and informed consent.
ers, Hospitals or Laboratory Analyses. We therefore enable a diverse and
• Products such as Med Tech compa- innovative ecosystem. A multi-sided
nies or Sensor Manufacturers. and open ecosystem provides most
• Content or information services such benefit to users and business partners,
as Universities or Library Data Bases. to get best possible solutions.
• Analytics services such as Pharma-
ceutical Companies or Researchers,
etc.
“Global health challenges are becoming ever
more complex - healthbank is the next generation
ecosystem that will drive better care, access to
data and patient choice globally”
Christopher Leiter, Digital Health Advisor
PATIENT PHYSICIANS HOSPITALS PHARMACIES RESEARCHERS
MHEALTH / SENSOR
INDIVIDUALS healthbank Ecosystem Platform
EHEALTH APPS MANUFACTURES
• Core Application
RESEARCH APP • App Store USER
HEALTHCAE
PROVIDER • Payment System GROUPS
PROVIDERS
• Ecosystem enabling services
• App Aggregation
RESEARCH MED TECH • API Standardization PATIENT
INSTITUTIONS COMPANIES • Analytics COMMUNITIES
Service/Products
HEALTH PHARMACEUT- UNIVERSITIES HEALTH
Content/Info & TECHNOLOGY ICAL COMPANIES & HOSPITALS INSURANCE
Analytics
healthbank ecosystem
104 PRIVACY YOU CAN BANK ON
4.5. SOLUTION(S) DESCRIPTION AND USE CASE DEMONSTRATION
healthbank’s solution consists of two a version 2.0, including an enhanced Maximum Security: Through our
main dimensions: security and scalability architecture. The end-to-end encryption as well as high-
central visualization of health data is be- end security architecture, healthbank
The first dimension is the person- ing shown in a timeline approach, where provides one of the safest solutions for
al health data management console the user can see different data sources, long-term healthdata storage and man-
(healthbank user platform or on a mobile and their current results in a timely order. agement in the market.
device as app), on which the user can
manage all their health data sources, In the user’s dashboard, all connect- Full Data Control: it’s only the user
access the data connected to their ed services apps (dimension 2) can be that controls their data. Without their
account and – through our granular and accessed and controlled, which builds consent, no data is being shared with
dynamic consent management – share the first tier of the consent management services, apps or other stakeholders
that data with people and organizations (connection and storing consent). connected.
of their choice. The benefits for the user from using
healthbank as their health data manage- Full Data Protection: Due to the con-
The second dimension is the health ment console, are: sent management as our core function-
services applications, which can be ality on the platform, no health data
connected to the personal account for Complete Health History: healthbank ever leaves the user’s account without
secure, neutral, and independent data helps the user to build their very own an explicit and well-informed consent.
storage and management. and complete health history. This is what we call state-of-the-art data
protection.
Both dimensions and their benefits for Full Health Spectrum: healthbank does
the user will be described more fully more than a classic eHealth system and healthbank is a very efficient way to
here: combines the best from both worlds: extend national or regional eHealth solu-
medical health data as well as user gen- tions. We provide the value and benefit
DIMENSION 1: PERSONAL HEALTH erated health data like trackers or other of existing and new consumer health
DATA MANAGEMENT CONSOLE IoT devices. services. We bridge the gap between the
need to optimize cost for primary care
The core of the healthbank application is Good Decisions: Through our privacy by delivery, and the best health services
the user platform, that enables the user design and default principle, the user can based on all existing personal health
to manage their health data effectively easily and well-informed decide which data.
and efficiently. The platform is up and data source to connect to healthbank
running and currently being revised to and which not.
DASHBOARD APP SERVICE INTEGRATION REWARDS CONSENT MANAGEMENT
RESEARCH
MEDICAL DEVICE DATA
COMMUNITY
f
e
d
c
b
a
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
DATA TIMELINE
f
e
d
c
b
a
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 DATA VISUALIZATION
HEALTHBANK NEWS
healthbank’s personal health data management console (either on desktop or on your mobile device)
114 PRIVACY YOU CAN BANK ON
4.5. SOLUTION(S) DESCRIPTION AND USE CASE DEMONSTRATION
DIMENSION 2: CONNECTED monitoring the rehabilitation of patients There are some more benefits to it: the
SERVICES APPLICATIONS with motor disabilities, for example due patient might share his or her data with
to a neurological injury such as stroke, both ReHaptix and the doctor, and add
The biggest added value for the user, multiple sclerosis or Parkinson’s disease. some other data sources like fitness
next to the functionalities given by the Their focus is to develop a top-notch tracker or medication diaries, to provide
management console, will be provided medical solution for the rehabilitation of even better insight.
by products and services from connect- patients. On the other hand, ReHaptix
ed ecosystem partners. would prefer not to deal with long-term This is where we at healthbank believe
storage of patients’ data. that the step-by-step building of a com-
For those ecosystem partners, health- plete real world patient information da-
bank is providing a secure, neutral and This is where healthbank comes in: the tabase can bring huge benefits to both:
independent data backend, as well as health data of their patients will, if the
data management services. patient wishes so, be transferred from • the doctors for better insights;
ReHaptix system to healthbank. • the application itself for even better
USE CASE DEMONSTRATION: REHAPTIX development opportunities for their
From there, the users can access their services;
One use case that describes healthbank’s test results, gain more insights from • pharmaceutical research for better
functionality very simply is the ReHaptix the analysis, and can easily share their care in the future;
case. ReHaptix is in the business of information with their doctors - or their • patients themselves for even better
developing and distributing a software loved ones. rehabilitation and better treatments.
“For Galenica, it makes a lot of sense to hand pre-
scription and medication data to the user. If done
correctly, it helps building a secure, coherent
and complete patient’s medication history, thus,
making a patients life safer and more convenient.
With healthbank, we found a competent and reli-
able partner to develop this path.”
Christian Köpe, Galenica, Head Strategy
APPLICATION FRONTEND TIMELINE OBJECTS ANALYSIS OBJECTS
f
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d
c
b
a
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
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sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et
dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam
et justo duo dolores
healthbank with integrated health service application “Rehaptix (on desktop or on mobile device)
124 PRIVACY YOU CAN BANK ON
4.5. SOLUTION(S) DESCRIPTION AND USE CASE DEMONSTRATION
USE CASE DEMONSTRATION: ReHaptix one: the health data of the actual medication – from Galenica’s
SANOVATION AND GALENICA patients will, if the patient wishes so, be medication plan. The patient can easily
MEDICATION PLANNING transferred from Sanovation to health- enhance their medication compliance,
bank. From there the user can access and in parallel build some correlation
Sanovation is developing innovative their pain entries, gain more insight from data, which not only has an effect for the
healthcare applications in the field of the analysis, and can easily share all this patient, and the supervising doctor; but
pain management (tracking, prevention information with their doctor or their also great implications for research and
and cure). Two of their most successful loved ones. additional functionalities that healthbank
applications are “Catch My Pain” and is going to build:
“Pain Companion”. The Galenica case – also from an • preconfigure existing pill reminder
isolated point of view – is simple as function and compliance control: the
Galenica in turn is Switzerland’s largest well: the user can save and access their patient will be reminded what medi-
pharma logistics company, and owns medication plan online, whilst building cation to take and asked if they actu-
the pharmacy group “Amavita” as well as a complete medication history in the ally took it;
other health care service providers. To- background: which can be shared at any • integration of vaccination and emer-
gether with Galenica, we are developing time and at the discretion of the user. gency data into the medication
a medication plan module that shows portfolio;
at a glance what medication a patient Both cases combined, however, are • gamification features to playfully
receives, what the side effects are, and quite fantastic. With the medication remind the patient, for example, to
what cross-interaction might be. In intake, that is very often aligned with to get more active; and
addition, this also serves as a library on chronic pain that is being monitored in • the combination of medication and
the patient’s medication itself, like intake Sanovation’s apps, Sanovation already fitness data will enrich the data sets
information or colour of the pill etc. has a built-in pill reminder function. for better analyses and treatments.
The Sanovation case – from an isolated This pill reminder will now automatically
point of view – is quite similar to the be configured with the content of the
“Building pain history and exchanging pain data is a great asset for our
CatchMyPain users. With healthbank, they can now store and exchange
health data securely and self-controlled.”
Roman Haag, CEO Sanovation
APPLICATION FRONTEND TIMELINE OBJECTS ANALYSIS OBJECTS
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eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam
voluptua. At vero eos et accusam et ore et dolore magna aliquyam erat, sed
f diam voluptua. At vero eos et accusam et justo duo dolores
e
f
d e
d
c c
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a
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a
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voluptua. At vero eos et accusam et ore et dolore magna aliquyam erat, sed
diam voluptua. At vero eos et accusam et justo duo dolores
healthbank with integrated health service application “CatchMyPain (on desktop or mobile device)
134 PRIVACY YOU CAN BANK ON
4.5. SOLUTION(S) DESCRIPTION AND USE CASE DEMONSTRATION
BENEFITS FOR ECOSYSTEM PARTNERS would rather focus on their first-class the app service provider can integrate
services and products, instead of data dozens of other data sources to enhance
To describe the benefits for users and backends. their own services through big data,
ecosystem partners, we use the met- artificial intelligence or machine learning
aphor of a smart phone: healthbank is Full Independence: healthbank provides algorithms.
providing the operating system of such a truly open and neutral ecosystem that
a smart phone, whilst the real function- comes with long-term stability as well as Full GDPR compliance: Due to our
alities and value added services come competition on the platform itself. detailed, informed and dynamic con-
from apps running instead of applica- sent management, which puts the user
tions on the phone. Our Ecosystem Part- We would never prohibit different service in the middle of the decision process
ners gain advantages from healthbank, or product providers offering the same to connect, store and share personal
as a trusted third-party provider with service on our platform. By doing so, data healthbank helps achieve full GDPR
many benefits: the user benefits from the solution that compliance for their application partners
suits him or her best whilst we enable a from the ecosystem.
Technological Security: Through a fully diverse and innovative ecosystem. We
fledged end-to-end encryption, as well believe that open ecosystems are better healthbank does not only give all data
as a high-security software architecture for service providers. into people’s hands but also the compa-
concept, healthbank provides the right ny itself, as every member precisely has
ecosystem partnership to safely manage Real World Patient Information: one vote to steer the future of health-
health data for ecosystem partners, that As soon as the users give their consent, bank directly.
5 GOVERNANCE TO THE PEOPLE
5.1. GDPR COMPLIANCE AND CONSENT MANAGEMENT
At the core of people ownership and the ecosystem partners: healthbank’s enables full data protection functional-
GDPR compliance is healthbank’s explicit, granular, informed and dynamic ities on two levels:
Consent Management. This is where consent management system.
it all comes together for the user and Our consent management system
GROUP OR PERSON AUTHORIZATION
MEDICATION APPS (2 APPS REGISTERED) CERTIFIED HEALTH SERVICE PROVIDERS
HEALTH SERVICE PROVIDERS
SEARCH FOR APPS
FRIENDS
ePRESCRITION WAS
ePRESCRIPTION ON OFF
DEACTIVATED ON 13.03.2018
MICHAEL M. MUSTER
ON OFF ePRESCRITION WAS
eMEDIPLAN READ CREATE MODIFY DELETE
DEACTIVATED ON 17.05.2018
OWN NONE NONE NONE
LEVEL 1: PRIVACY BY description: LEVEL 2: GRANULAR AND DY- description:
DESIGN AND DEFAULT Following the principles of privacy by NAMIC CONSENT MANAGEMENT To enable sharing of personal health
design and default, the user has to data with third parties (other than
consent level 1: explicitly give their consent to connect consent level 1: apps), the user learns in detail which
• activate and de-activate application services on the platform. • share data with your family data is being shared. He or she has
applications on your account When doing so, he or she learns what and/or friends advanced sharing options like a time
• share data with chosen service the consent given means in detail. In • with a doctor or care giver limit or a limitation in what the shared
applications for better analytics, short, which data is being connected • with research partners like partner can see (anonymization /
better treatments and better and stored on the personal account. pharmaceutical companies pseudonymization) etc.
care
145 GOVERNANCE TO THE PEOPLE
5.2. HEALTHBANK BUSINESS MODEL: C2B2B
healthbank’s business model can be The first B: The core of healthbank’s are interesting for research institutions
summarized in a “C2B2B (…and R)” business model are the healthcare pro- (pharmaceutical biotech and medtech
approach: viders that offer services and products as companies, but also universities etc.),
applications on our smartphone. healthbank will offer those research
The C: The end users’ management projects on an internal market place.
console - healthbank’s interface - puts The business model here is: when the
the user in the center of all activities. ecosystem partner uses healthbank as The data licensing fees raised from these
One can compare this with an advanced their data backend and safe data storage, institutions will be given back to the
version of an application like “Dropbox”, then healthbank charges them a data users in form of HBC tokens or other
where health data can be stored and licensing or transaction fee. These fees rewards.
shared at the person’s discretion. will be generated by healthbank innova-
tion AG, and profits will be given back to These fees will also be generated by
We believe that the main services should healthbank cooperative. healthbank innovation AG, and profits
always remain free. Otherwise, we will be given back to healthbank cooper-
believe the user would not accept such The second B: That’s us as the provider ative and the users.
services. Some premium services may of our healthbank platform service.
be paid services in the future, which will
then be payable either in FIAT currency, And then there is R: There is actually
or in HBC tokens as described in one more thing to mention in terms
chapter 1.1. of business: as soon as the data sets
“healthbank truly is a unique startup with a very
special business model. At health hub Vienna we
are proud to have the possibility to accompany
such high potential startups for a few month on
their journey to success.”
Peter Tschuchnig, Health Hub Vienna, Program Manager
HEALTHBANK COOPERATIVE HEALTHBANK INNOVATION AG
USER CONTENT
INDIVIDUAL USERS HEALTHCARE PROVIDERS
• In: health data platform, timeline, • In: healthbank platform services
consent management (health data management)
• Out: no fees apply • Out: data licensing fee
PREMIUM USERS RESEARCH INSTITUTIONS
• In: health data platform, timeline • In: healthbank platform services
consent management, premium functions (marketplace for health data)
• Out: premium service fee • Out: brokerage & data licensing fee
155 GOVERNANCE TO THE PEOPLE
5.2. HEALTHBANK BUSINESS MODEL: C2B2B
The key element in terms of revenue users attached, we believe that health- as data licensing fees and/or dividends
generation will, besides cash, be the bank’s user base will grow significantly to investors - amongst them healthbank
HBC tokens as described in chapter 4.2 over the next couple of years: we expect cooperative and its users.
of this document. Due to the trading of some 255k users at the end of 2018, this
those tokens their value will increase - will grow to some 5.5M users by 2021. However, we expect that the companies
for the benefit of investors, B2B partners, will, after an initial phase – and further
and healthbank users. The revenues generated in healthbank startup financing through the ICO –
innovation AG will be used to (i) finance break even in 2020 and accumulate
Due to the onboarding of B2B partner- operations and development of the profits that exceed the initial investments
ships with healthcare providers and their organization and (ii) to transfer a surplus by 2021.
“This investment not only brings you financial
returns but makes you part of a global footprint.“
Franco Taisch, Chairman and Founding Partner
CHF 30’000’000
CHF 30’000’000 8’000’0008’000’000
Users Users
total premium
total premium
user feeuser
revenue
fee revenue
healthbank
healthbank
personalpersonal
health record
health record
total research
total research
rake feerake
revenue
fee revenue healthbank
healthbank
patient path
patient path
total operation
total operation
costs costs healthbank
healthbank
medication
medication
6’000’0006’000’000
Users Users
total revenue
total revenue
costs costs
CHF 20’000’000
CHF 20’000’000
total service
total revenue
service revenue
total project
total costs
project costs
total project
total revenue
project revenue 4’000’0004’000’000
Users Users
EBIT EBIT
CHF 10’000’000
CHF 10’000’000
cumulative
cumulative
EBIT EBIT
2’000’0002’000’000
Users Users
CHF 0
2018
CHF 0
2018
2019 2019
2020 2020
2021 2021
2022 2022
2018 2018
2019 2019
2020 2020
2021 2021
2022 2022
0 0
1’760 1’760
2’952 2’952
4’448 4’448
6’456 6’456
0 06 6
77 77
94 94
114 114
CHF - 10’000’000
CHF - 10’000’000
255 255
548 548
746 746
959 959
1’198 1’198
total userstotal
(in 1’000
usersUsers) 255
(in 1’000 Users) 255
2’314 2’314
3’775 3’775
5’501 5’501
7’768 7’768
165 GOVERNANCE TO THE PEOPLE
5.3. INTERNET OF VALUES AND BLOCKCHAIN UTILIZATION
After the first wave of the “Internet of an end-to-end encryption, by applying In a final step, the user would need to
Information”, we strongly believe in, and a public-private key concept. trust the person he or she is sharing data
anticipate, a transition towards the “In- with. healthbank has developed a trust-
ternet of Values”. And healthbank wants healthbank, however, takes the end- based principle built into healthbank’s
to play a major role in this transforma- to-end encryption to a completely new consent management system.
tion. level, by giving the user the only key to
their data: To work with a comparison: users do
In essence, healthbank is all about • First, healthbank lets the user trust the banking system to work. The
managing the value of personal health generate a fully random private key; user does not give their bank account
data. Right from our founding idea, it is • Then the healthbank application number and transfer money, without
our strong conviction that all technology creates a public key from that private having a clear idea of who the recipient
around transferring and saving value for key, so others can share data with the would be. They would also never share
users must be a core element of health- user, and the user can share data with health data with people they don’t know
bank. others; and trust. healthbank is implementing
• The data will be fully encrypted whilst the same trust-based principle.
Distributed Ledger Technologies in gen- maintaining the speed of all transac-
eral, and blockchain specifically, offer tions, using a synchronous key; Personal data and health data, as well as
potential solutions to manage the value • That synchronous key will then be giving access to them, will only be pos-
of health data. Existing public blockchain encrypted with the public key, for sible once the identity of the recipient is
solutions are still, however, somewhat the intended audience. established and trusted by the user.
immature for very specific applications.
Therefore, healthbank will adapt to core Only the member with the corre- LEDGER FOR DATA MONETIZATION
principles of the Internet of Values, like sponding private key can read this
ledger technology, whilst taking great synchronous key, and therefore is able The security and safety of sharing data,
care of potential downsides. to decode the subset of data that users particularly to monetize them, also is
are willing to share. No data shall leave one of healthbank’s core priorities.
HEALTHBANK AND BLOCKCHAIN users’ devices without being encrypted. healthbank uses ledger technology for
At healthbank, we call this end-to-end the monitoring of all transaction and
The very first part, where we use block- encrypted communication. key handling in the healthbank system:
chain already from the beginning, is the any action in relation to personal health
management of ownership in healthbank The security at healthbank is tightly data will be written to a central ledger.
cooperative. Issuing equity, executing linked to this end-to-end encryption. healthbank will make use of the block-
membership voting rights and paying Only the intended audience, so mem- chain technology – for the tracking of
out dividend is managed by a smart bers with whom data is shared, are access to personal health data, and its
contract. This is the only way on how able to access the data. This means, for monetization.
we can manage millions of co-owners example if it happens that the user loses
with complete transparency and highest a copy of the data stored on a USB stick, For now, healthbank uses an internal
possible efficiency. Therefore the health- the data is still safe and secure (unless “bonus program” with HBC tokens (de-
bank model is only fully scalable on an an unencrypted private key is stored on scribed in chapter 4.2). As long as HBC
worldwide level with blockchain. this USB stick as well, but a diligent user is the value of healthbank’s “bonus pro-
would never do this). gram”, the token will not be on a public
SECURITY AND ENCRYPTION ON chain. For the beginning, a very central
HEALTHBANK The identification of users and audienc- element will be the pricing mechanism
es is also secured highly; the platform to work with personal data. As soon as
Being a “bank” for private health data, provides a distributed ledger of identities. all the needed algorithms are stable, the
healthbank strives to keep the users’ data The service will use SSL to connect to HBC token could be brought to public.
safe and secure. The format commonly this ledger. The SSL itself has a certifi-
used in digital environments is through cate, which validates that the service is
owned by healthbank.
176 AN ICO YOU CAN BANK ON
6.1. HBE PUBLIC TOKEN AND THE ICO
healthbank cooperative plans to run an rights. As a primary return of invest- contract to Crypto and Fiat investors,
ICO of the healthbank token (HBE) to ment, a token investor receives a regular which are compliant to certain KYC/AML
finance the further development of the dividend of platform revenues, which are requirements.
existing healthbank platform. paid as part of every transaction on the
healthbank platform. After the ICO, the HBE tokens are
The HBE token is used primarily to hold planned to be traded globally on
financial equity rights (Anteilsscheine) The HBE token is implemented as a secondary markets (i.e. decentralized
of healthbank cooperative, which in standard ERC20 token running on the exchanges as well as chosen centralised
particular includes dividend rights. The Ethereum blockchain. healthbank issues exchanges). Therefore the HBE token
financial equity rights have no voting the tokens via a crowdsale (ICO) smart will follow a market price.
HBC
dividends for services
investors and
INVESTOR members,
voting rights
for members
USER HBC
ETH or fiat
data
MEMBER
6 AN ICO YOU CAN BANK ON
6.2. COMPLEMENTING HBC AS A HEALTHBANK INTERNAL TOKEN
Independently of the HBE token and HBC tokens. Similarly, a user can license on a private system, fully controlled by
ICO, healthbank also plans to introduce their personal health data via healthbank the operator. Thus, the HBC tokens are
and use an internal token (HBC) as a to research organizations or corporates, not publicly tradeable and do not have a
payment token, similar to an internal and receives the HBC token in return. price per se. However, they are linked to
bonus program on our platform. For the HBE tokens, and their market price
example: a user can purchase from For each transaction of HBC, a small is thus directly coupled to the publicly
healthbank, or through healthbank from platform fee is paid to healthbank as the tradable HBE.
a service provider, a medical service (e.g. operator of the platform. It is important
CatchMyPain premium services) using to note that the HBC token will be run
HBC
dividends for services
nvestors and
members,
voting rights
or members
USER HBC
ETH or fiat OPERATOR
(healthbank
data
innovation AG)
186 AN ICO YOU CAN BANK ON
6.3 SYSTEM MECHANISM OF HEALTHBANK COOPERATIVE AND HBE TOKENS
Coming back to the functionality of people who want to become either pure via their bank. We’ll have notary and
the HBE token, a general overview of investors or members of the coopera- member management services ready
the interactions of that token is being tive. to confirm a legally fully compliant sale.
shown in the following diagram. The When finally there’s full compliance,
very left side of this diagram shows the Both groups will have to undergo a strict tokens will be issued and are planned to
two groups of interest: people who want KYC / AML process, either through our be traded on secondary markets.
to either invest in crypto and fiat, and crypto process or being a trusted party
buy HBE for ETH
Crypto Investor trade centralized /decentralized Secondary
TOKEN (HBE) exchange of Ethereum market Investors
KYC / AML approve
Crypto Member service mint
KYC
data Notary and
CROWDSALE Custodian Broker
member mgmt whitelist & ETH ETH
Fiat Investor CHF Bank (healthbank mint tokens CHF
send list fiat investors
account)
healthbank
Fiat Member CHF cooperative
Investment in healthbank cooperative operative revenues. Additionally, a HBE They are blocked from trading or
can be done in FIAT and Crypto (ETH). token holder can convert tokens into exchanging into HBC or healthbank ser-
HBE tokens are planned to become trad- HBC or in-app services from healthbank vices. After the ICO, membership contri-
able after the ICO. innovation at a discount of 10%. butions will be reduced to the amount of
CHF 1 which relates to 70 shares or HBE;
After the ICO, a holder of HBE is entitled The amount of HBE tokens needed for The value of one HBE will be fixed to
to receive dividend from healthbank co- membership is CHF 100 or 10,000 HBE. CHF 0.0143 (0.1 / 7).
exchange
centralized / Crypto Investor
Secondary trade
decentralized DIVIDEND SERVICES IN
market TOKEN (HBC)
exchange of POOL HEALTHBANK
Investors claim their
Ethereum Crypto Member dividends
(fiat or ETH)
puts in
dividends
Fiat Investor
healthbank
cooperative
Fiat Member
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