The Opu Labs team recently participated in a number of AMAs. Here is a recap of the discussions.
Healthcare is one of the most well funded sectors in the developed world. There are estimates that most governments channel a minimum of 30% of their GDP to healthcare. Opportunities in the healthcare system are also on the rise. Despite the ravages of the pandemic on the global economy, healthcare investments are increasing at unprecedented levels.
Data shows that in 2020, equity funding in this sector hit the $80.6 billion mark in Europe, North America, and Asia. However, while healthcare receives a massive amount of funding and support, it has many inefficiencies. Its complexity and intricacies have left some of its processes in the stone age, as other areas embrace innovation.
As an illustration, the medical field has had excellent progress in developing vaccines, diagnostic technology, and drugs. In sharp contrast, facets such as data analysis, patient data, supply chain, and drug traceability management are in the dumps.
Additionally, threat actors are also bringing the medical cybersecurity sector to its knees as phishing attacks, and fraud schemes escalate. These malicious actors prey and extort medical enterprises after succeeding in their data exfiltration schemes.
To illustrate this point, in the Blackbaud ransomware case, hackers stole the personal data of over 10 million patients from the third-party cloud computing business. This vendor has affiliations with Inova Health Systems, MultiCare Foundation, and Northern Light Health Foundation.
Why Opu Labs is Building a Healthcare Blockchain Project
Blockchain technology can revolutionize the healthcare industry and eliminate the inefficiencies and risks that accompany medical data handling. Industry respected proponents of the technology, such as Opu Labs, look to blockchain technology not just as a problem solver but as a value addition development.
To this end, Opu Labs is building secure and scalable blockchain infrastructure for the health sector. Opu Lab’s apps and services will empower manufacturers, patients, researchers, and medical personnel with tools that seamlessly manage, monetize, control, and monitor the usage of medical data.
Opu Lab’s blockchain applications will eliminate the shortcomings of the centralized electronic health data system. In research, for instance, out decentralized data storage systems will free patient data from the clutches of private networks or organization servers.
By eliminating personally identifiable markers on data through encryption, researchers can retrieve valuable data from millions of patients without breaking any confidentiality laws. This feature will lead to more remarkable advancements in research, public health management, and adverse event identification.
Through Opu Lab’s robust blockchain systems, patients can share their private keys with health care providers at will. An interoperable patient data management system ensures accurate, rapid, cheaper, and superior patient care.
The use of smart contracts can create data access authorization protocols, keeping health records away from malicious actors. The OPU blockchain platform will leverage its mobile applications to enhance patient self-monitoring.
The Opu Coin (OPU) Unique Selling Proposition
Most blockchain startups kick off their operations with nothing more than a white paper and a determined project team. Opu Labs has all these aspects and the benefit of years of experience in the health and personal care sector.
Opu Labs has seen success in the skincare industry via its artificial intelligence-powered facial technology platform. Utilizing the Opu AI system, the business has forged meaningful partnerships with companies and healthcare professionals.
The project has a data analysis, capture, and comparison system in place. As an illustration, we have a collection of over 25,000 images from users and 50,000 skin profiles. Using this system, the Opu AI can successfully evaluate a user’s levels of acne, wrinkles, redness, and hyperactive pigmentation.
Opu Labs’ partnership with Acnoc, for instance, built a body of evidence from users proving that Acnoc ‘s ALL HYBRID ESSENCE could reduce acne. In their 14 Day Acne Free Challenge, the award-winning brand used Opu User tests to establish an 82% reduction in acne amongst their product’s users.
Kosé India used the Opu Challenges tools, powered by Opu AI, to test their Spawake Pimple Solution Purifying Serum. Results collected using Opu AI showed that the product had a 90% success in improving acne and the condition of the skin.
The Opu Labs Future
Opu Labs is now refining the project’s AI technology for other purposes. The Covid-19 pandemic had a lot of influence on Opu Labs’ decision to launch our viral skin analysis program. The Opu Viral Skin Scanner AI showed a 75% accuracy in diagnosing virus-related skin conditions. The initiative is still running and for all images collected, the company will donate a certain number of OPU to research in COVID-19.
Opu Labs’ primary focus is on data analysis rather than medical diagnosis in order to assist users to manage and monitor their wellness. The company observes privacy and financial regulations in the jurisdictions where it operates.
The OPU Network
The value-driven Opu Coin (OPU) network focus is on the healthcare industry. Through Opu Coin (OPU), stakeholders in the health field can share their data and earn OPU tokens in return. Therefore, the token will help build a data-sharing economy that will incentivize all users and become a key healthcare sector data exchange resource.
Opu Labs first launched their project on the Ethereum network. The Opu Coin is, therefore, an ERC-20 token. However, following the dismal network performance of the Ethereum network and consequent high transaction charges, Opu has moved its blockchain operations to the faster Matic network.
Matic is a scalability platform that powers Ethereum based projects giving them speed and cost-effective transactions. The Matic network can confirm transactions in 2 seconds or less and only has nominal charges. The Opu ecosystem can now build its health care data sharing, payments, and data privacy network on the lightning-fast Matic network.
The near-zero gas fees of the Matic network will also help onboard more health care professionals, patients, manufacturers, and researchers into the Opu network. The Opu project is currently focusing on completing the development of its core components.
Currently we have a functional web platform with liquidity and staking features. The OpuCoin $OPU is on QuickSwap, offering an excellent price opportunity for early adopters. The Opu App is currently available on Google Play. The iOS version is under review and will hopefully launch soon. The Opu Platform also has APIs for 3rd party developers to use. The Opu Coin project has therefore progressed well beyond the whitepaper stage.
To create a more extensive user base and build a vibrant community, the team is creating a robust social media presence. We have over 150,000 users signed up on the site. The user base holds close to 100 million OPU coins.
Why You Should Hold OPU Tokens
OPU coin works as a utility token on the blockchain, rewarding users and other ecosystem players. The OPU Marketplace has choice rewards and discounts for Opu Coin holders. In the future, the Opu Coin will work as a data sharing and access incentivization token.
The Opu Labs project has a solid use case and working products. It is a project with proven progress in its roadmap. Opu Labs blockchain dapps and services will help to decentralize healthcare data access. Running estimates are that blockchain technology can save the healthcare sector close to $150 billion in IT operations, data breaches, and support annually.
For this reason, the use of blockchain technology in the healthcare sector will grow at a 67.1% rate by 2023, from $44.6 million in 2017. Many healthcare-related blockchain projects rarely see the light of day. Opu Coin (OPU) is outdoing this grim statistic as it is already operating based on the support of our community, partners and investors.
You can purchase OPU on these supported exchanges.