ICO Review – What is NWP Solution?
The demand for universal healthcare is gaining traction all around the world, and the reasons for it are self-explanatory.
While life-altering diseases are often treatable, the process and cost for the treatment itself deem to be unbearable for the larger part of the population. The same goes for ailments that would otherwise be easily treatable with insurance but leaves underprivileged patients concerned about their healthcare options.
Oftentimes, such diseases are not covered by insurance, which only adds to the turmoil of the patients and their families.
In addition to this, another topic that has been doing the rounds is the protection of one’s confidential data and the various companies and institutions’ adherence to it. If not protected by law, these companies would otherwise jump on the opportunity to get their hands on valuable information about specific types of treatments and pertinent patients in order to supplement their own research for the expansion of their products and services.
Seeing these two prevalent problems, a blockchain-based platform by the name of NWP Solution has come to the surface with a way to address both of these issues effectively while also ensuring that patients do not only get the treatment that they desire and deserve but that companies could get relevant data from individuals who are willing to contribute with their personal healthcare information in exchange for monetary remuneration – all while complying to international healthcare privacy standards.
What is NWP Solution and What Does It Do?
NWP Solution stores healthcare information of participating individuals while ensuring that it remains secure, private and free of any misuse by leveraging blockchain technology.
By storing information on the NWP Solution blockchain, users can benefit from connecting with healthcare providers and professionals for consultations and trial offers, while also being able to participate in any programs that would allow them to be compensated in the network’s native tokens in exchange for their medical information.
While patients need to pay healthcare professionals for any consultations as they do in the real world, if the consultation is facilitated by any provider in exchange for patient data, then it would mean that patients would be able to leverage the opportunity of receiving medical advice without having to pay anything out of pocket – while participating companies would be able to access the data that they need for their research.
And this is how NWP Solution aims to resolve the aforementioned problems of the unavailability of affordable healthcare for patients and the scarcity of accurate data for companies who need the information to fuel their progress in the healthcare industry.
Along with this business model, NWP Solution aims to make patients’ lives easier by allowing them to monitor their healthcare information and follow suggested steps they could take for its betterment through the apps that the solution will develop for major platforms.
In addition to the apps, NWP Solution will allow patients to purchase medicines right through its interface, and will also build a hardware bracelet that could monitor a baby’s health on a day to day basis for effective healthcare management.
The bracelet in question has been dubbed as the NiteWell Bracelet and can be worn by newborns up to the age of 12 months. The bracelet can be fastened to a baby’s foot and from there it can monitor vitals such as heart rate, pulse, body temperature as well as statistics about the baby’s local environment.
Parents could then check this data on an app that is connected through the blockchain and which complies with the standards of HIPAA and would also be adhering to international confidentiality standards.
About the NWP Solution Token (NWP) and Its ICO
The NWP token will be the utility token on the platform, where it will support operations for patients, companies as well as healthcare professionals alike.
For patients, it will be an instrument to store their information on the NWP Solution platform, from where they could share it with other platforms and users where applicable. They would also be able to order medicines and get consultations from doctors and other healthcare professionals on the platform.
For companies, they would be able to pay for voluntary patients’ information through the NWP token and accept the token in case they are selling medicines on the platform.
For healthcare professionals, they will be able to accept their fees through the platform from any patients who have contacted them via the NWP Solution interface.
During its crowdsale phase, the NWP token is pegged to be valued at $0.05, with a soft cap of $300,000 and a hard cap of $700,000. The NWP is an ERC20 token, and during the crowdsale, it can be exchanged for Ether, Bitcoin, Litecoin, Dash, Ethereum Classic, Zcash and USD.
The total volume of generated NWP is to be 1 billion, whereas the amount allocated for the sale is 500 million of NWP.
The pre-sale phase for the NWP has already ended on June 15, 2018. The platform will now hold a public crowdsale that will commence on August 1, 2018, and end on December 1, 2018, with a token issuance date of December 30, 2018.
For every investment over $1000, the participant will be entitled to receive a free NiteWell Bracelet. There are numerous other stipulations and bonuses offered by the platform which have been listed in its whitepaper.
The allocation of tokens as well as the distribution of funds have also been explained by the team in the whitepaper. They are mentioned below for reference.
43%: ICO Participants
31%: Future partnership reserve
7%: Pre-ICO Participants
4%: Advisors and partners
7%: Bounty campaign
30%: PR and Marketing
23%: Development of DApp
20%: NiteWell Hardware
9%: Operating Expenses
5%: Organization of Distribution
5%: Acquisitions and Partnerships
NWP Solution Team
The team behind the solution does not seem to be as proficient as it claims to be or should be for a solution of this stature, where highly confidential medical data is to be shared with third parties.
The website has a few typos throughout its pages.
While you can easily forgive a repeated sentence, the website does not stop there. It titles its whitepaper as “whitelist” and leaves out grave technical details out of the document on the overall functionality of the project, or how it will all come together.
Furthermore, it just seems to have put a few words and phrases together while describing its value proposition on the website, which goes on to show the level of care, or lack thereof, towards the project by its team.
Relating “Blockchain Infrastructure” to “Affordable medicine for everyone” or “Easy Token Integration” to “Better diagnostics and treatment” does not make much sense. Instead, it makes one wonder whether the team actually knows the segment that its tackling and if it has the proficiency to bring it all together in a propitious structure.
Its shift to plug a product about babies’ healthcare in a project where it is all about protecting, sharing and remunerating for patient information – which are all aspects normally related to adults – also seems fishy and projects an image of this product just being there for the sake of existing rather than providing any core functionalities that are integral to the project.
The overall team does not seem very experienced in itself, where the project’s initial investor, founder and CEO, Alexander Frolov has some experience as being a brand manager for Procter & Gamble and L’Oreal, but then has a slew of investments listed on his LinkedIn page, a few of which he exited one after another.
Whereas, the project’s co-founder and project leader, Charlie Schick, does hold experience in the IT field while specializing in collaborating with pharma-centric solutions. However, the website only describes him as “Driving success through innovative digital solutions and strategies.”
The same holds true for other members of the team.
Is NWP Solution a Good Investment Choice?
By the looks of it and what it presents itself as on paper, NWP Solution does not look like a very viable solution for the sensitive industry in which it is striving to make its name.
The project’s reported hard cap itself is very low to make it in an industry where projects as ambitious as this take more than a few hundred thousand dollars to come together, since you do not only have to spend your budget on development, but afterwards, you have to ensure that you have the capital to incentivize companies and professionals to join the proposed network on a technology that is still in the trial phase as far as those individuals and entities are concerned.
The inclusion of the hardware bracelet is yet another question mark on an already dubious implementation on the concept, since the project veers off of its main topic of giving patients complete control over their information and letting pharmaceutical companies access that information upon their consent. Since those sensitive topics belong to adult patients, sliding a product regarding a baby’s healthcare monitoring into the discussion seems out of place. If only the bracelet could have worked with both children and adults, then it would have come together nicely, but the way that it just sticks out of place makes one raise their eyebrows at the idea.
With a high ambition yet a slapdash approach to execute it, NWP Solution would be a risky investment for now. With its crowdsale just around the corner, we can only hope that NWP Solution gets its house in order and updates its information and overall execution in the upcoming few weeks so that potential investors do not have to think twice about going ahead with their investment in the project.