Austin, TX, February 06, 2018 --(PR.com
)-- Verimos CEO Bryan Menell, a serial technology entrepreneur with multiple successful exits, held a press conference today to publicly unveil plans for building the largest wellness data repository in the world powered by the blockchain.
Verimos is creating alliances with companies in the wellness industry, from healthy food suppliers to fitness studios. “People are wearing devices, monitoring health measurements, and downloading apps on their phones to track workouts, jogging, calories, water consumption, and almost every aspect of their wellness,” Menell said. “Verimos is creating a protocol that makes it easy to store this data in a new type of database called a blockchain.”
Menell said “People distrust big technology companies that continue to accumulate personal data for the purpose of selling us more products. Verimos will allow individuals to store their information in such a way that details are private to them, but available as aggregate data to researchers tracking trends in public health and wellness.” Blockchain technology is what makes it possible for this data set to reside in hundreds of computers all around the world that cannot be controlled by any one person or organization.
This data solves real business problems for many industries, for example:
Health Insurance: Companies interested in providing refunds and discounts to consumers who can prove that they make healthy lifestyle choices.
Suppliers: Collaborate for the consumer’s benefit, for example when your fitness coach can see your steps, meals, or sleep data.
Pharmaceutical: Clinical trial candidates who share similar traits can be approached anonymously to test new drugs and therapies.
Precision Healthcare: With a rich set of environmental (ambulatory) data, healthcare professionals can design a therapy that is specific to a single patient rather than an average of people in a dated study.
AI and Machine Learning: Gain rich data to build models upon.
Workforce Risk Assessment: Large corporations typically underwrite their own health insurance plans, and therefore assess the health of their employees regularly. Key executives are especially important, and can even enjoy larger bonuses based on proof of healthy behaviors.
The Verimos team has worked together in various capacities for many years. CEO Bryan Menell previously worked with Jason Stoddard at SubtleData where they settled the first ever restaurant tab with bitcoin in 2013. Mr. Menell and Michael May worked together for many years at Dachis Group through a period of rapid company growth. Mr. Menell has worked with the development team in various capacities since 1996.
Verimos is building the world’s largest repository of wellness data that is owned by all of us. We collect and store the consumer data exhaust from wellness companies that sell nutritional meals and supplements, hardware devices, software, mobile applications, home testing services, and fitness studios. Storing the data on the blockchain makes it verifiable, decentralized, and a public good that everybody can benefit from. Combining this with a digital currency creates economic incentives to drive ongoing participation. Billion dollar business problems in insurance, pharmaceuticals, and ambulatory care are directly affected, and consumers benefit from privacy and supplier collaboration.