Contribution of Blockchain Technology to Startups
Security in the healthcare sector is paramount, and for a long time, many continue to ignore this fact, driven by various reasons. Other than that, traditional systems in use do not make it any better but continue to allow leakage of sensitive data that can act as leverage, to achieve something.
Blockchain market approach
Startups are increasingly interested in new technology in a bid to approach the market with new business models because this is the current need. New models prove resourceful when it comes to new value creation, innovative circular economies, and new ecosystems, which lead to overall success. In essence, that is what blockchain technology delivers to startups when they adopt it.
Blockchain business model
Startups that focus on old systems are mainly interested in developing and marketing tangible products and services. Contrary to this, startups that take to blockchain technology, have option of having a product/service as part of whatever they are developing. The primary focus, in this case, shifts to a self-sustaining circular economy that runs on tokens or currency they own. It also incorporates the transactional loop of earning and spending tokens within the same ecosystem.
Blockchain ownership model
Different from the aspect where one acquires preferred shares by buying private equity, which is the case in the traditional model, blockchain technology allows interested parties to obtain shares or tokens that the startup issues.
