From: thepipeline_xyz
The monetization of health data is a rapidly growing area, driven by advancements in technology and a societal shift towards personalized health and wellness. This process involves individuals gaining control over their personal health information and being compensated when that data is utilized by third parties.
The Problem with Traditional Health Data Management
Historically, medical records have been siloed and centralized, making it difficult for data to move seamlessly between healthcare providers [00:16:08]. This fragmentation is particularly problematic in emerging economies where public health systems are often stressed, leading to issues with patient treatment continuity [00:16:19]. The global cost of this issue is estimated at $200 billion annually, with over 30,000 lives lost as a direct result [00:16:40].
Beyond operational inefficiencies, the centralization of health data poses significant privacy risks. A notable example is the 2023 hack of 23andMe, which resulted in the exposure of 7 million patient genomic records [00:16:54]. Traditional healthcare providers often use patient data to generate billions in revenue through new products and services, without compensating the individuals who generated that data [00:31:39].
Ever Network: A Decentralized Solution
Ever Network addresses these challenges by offering a decentralized healthcare data storage protocol built on the Monad blockchain [00:17:12]. Their solution aims to return data ownership to users, built upon an encrypted layer of IPFS [00:17:22].
User Control and Benefits
With Ever Network, users gain unprecedented control over their health data [00:17:29]:
- Ownership Users own their data [00:17:32].
- Storage Decisions They decide exactly where their data is stored [00:17:37].
- Access Control Users determine who accesses their data [00:17:37].
- Usage Permissions They control who gets to use their data [00:17:41].
- Chatbot Interaction A chatbot allows users to “talk to” their data, for instance, to inquire about symptoms without external search [00:17:45].
Monetization Opportunities
Ever Network is actively working with pharmaceuticals, insurance companies, and drug researchers to enable users to monetize their data [00:18:14]. This includes licensing data and being recruited for clinical trials, allowing users to get paid for how their data is used [00:18:22].
Current Traction and Go-to-Market
Originally founded as a SaaS company in 2019, Ever Network holds government contracts, including with the Thai government, to manage medical records [00:18:36]. Their network currently includes over 650 hospitals and manages more than 10 million patient records [00:18:47]. They have also signed a contract with the Indonesian government and are exploring partnerships with the Colombian government and Japanese hospitals [00:19:00].
Their go-to-market strategy is three-pronged [00:19:16]:
- B2B Acquisition: Expanding their hospital network globally, especially in emerging economies [00:19:19].
- Web3 User Empowerment: Enabling users to earn rewards by providing wearable data from devices like Aura rings, Whoop, or Apple Watches, paired with their health records [00:19:30]. This targets web3 users, who are perceived as more health-centric and interested in “quantified self” data [02:23:05].
- Targeted Patient Acquisition: Focusing on patient groups requiring long-term data tracking, such as individuals with type two diabetes or non-communicable diseases [02:22:01].
Pulse: A Decentralized Health Data Network with Wearables
Pulse is building a decentralized health data network powered by its own native wearables [02:30:23]. They aim to give users control over their health data and provide financial incentives for its contribution.
Core Offering
Pulse aggregates health data from various sources including wearables, DNA, blood work, and health records [02:31:59]. This data is then encrypted on-chain, allowing users to selectively share it with third parties in exchange for rewards [02:32:06]. The vision is to build a comprehensive Health Data ecosystem where data owners can share information for research, with health apps, or in marketplaces [02:32:54].
Pulse Wearable Device
Central to Pulse’s strategy is its native wearable device [02:34:07]. This device tracks sleep, heart rate, calories, and even energy levels, predicting fatigue and offering recommendations for productivity [02:34:31]. It also features an inbuilt hardware wallet with a secure enclave, ensuring that private keys and data encryption keys are solely accessible by the user, thereby making the system decentralized from day one [02:34:48].
Market Opportunity and Traction
The health data market is substantial, valued at 540 billion over the next decade [02:32:15]. This growth is driven by demand from AI applications, longevity research, personalized healthcare, and consumer self-care [02:32:31].
Pulse demonstrated significant early traction, achieving $150,000 in sales within 21 days and selling out three waves of their product, prompting an immediate launch of a fourth wave [02:35:23]. Their initial customer base consisted of the Monad crypto-native community, who are generally health-conscious and data-driven [02:37:15]. For broader scale, they plan to expand marketing efforts to platforms like TikTok, Instagram, and YouTube, targeting fitness and productivity segments [02:37:37].
Data Monetization and Privacy
Pulse emphasizes that users get a direct share of the revenue generated from their data [02:38:09]. While existing companies like Whoop and Oura sell anonymized user data to brokers without user compensation, Pulse empowers users to control and profit from this process [02:38:09].
When a third party, such as an insurance company, makes a bid to acquire data (e.g., “how many users in Bangkok run 1 km?“) [02:39:40], Pulse users receive a notification in the app to accept or deny the request [02:39:08]. If insufficient users accept, the third party must make a better offer [02:39:22]. Crucially, companies only receive the answer to their question, not direct access to personal identifiable information (PII). This is achieved through MPC (Multi-Party Computation) models that run on encrypted data, with the output decrypted only with the user’s permission [02:39:51].
The Future of Health Data Monetization
The increasing demand for data to train AI models and enable precise insights, coupled with growing privacy concerns, positions health data monetization at the forefront of innovation. Projects like Ever Network and Pulse highlight a future where individuals are empowered to control and benefit from their most personal information. This shift not only protects privacy but also unlocks a new economic layer for health and wellness. The integration of on-chain data and applications with real-world health data promises to revolutionize how medical records are managed, accessed, and valued.