How the SOLVE Community Can Participate and Benefit from the DeFi for Healthcare DAO

On September 30th, Solve.Care CEO Pradeep Goel addressed the community with updates to the coming DeFi for healthcare revolution.

In this company update, Pradeep discusses the different aspects of this incredible innovation and specifically speaks to the SOLVE Community, outlining what possible roles they can play to ensure its success.

Below is the transcript of that session.

We spoke before about how the intersection between decentralized finance and healthcare represents a trillion-dollar opportunity. This may sound like hyperbole but the more we study it, the more we get engaged and the more this opportunity becomes clearer, the easier it is to be of firm belief that this is larger than we anticipated and this is an opportunity for the entire Solve.Care community to engage, to own, and to manage. Today I want to discuss only one thing and that is the role of the SOLVE community and the SOLVE token holders that is built into the decentralized finance solution for healthcare. And that really is the essence of everything else we are doing so let’s jump right into it.

I am going to refer to the decentralized finance for healthcare as DeFi for healthcare for this update. The actual name of the product will be revealed in the next few days.

What are we really planning to do here? DeFi for healthcare is being set up as a Decentralized Autonomous community governed Organization, or DAO. Our belief and our view is, the best way for decentralized finance to be applied to healthcare globally and successfully is for it to be community governed and community-owned. The model is similar to a republic that is of the people, for the people, and by the people. There is a constitution for our DeFi for healthcare solution. There are rights and roles of each citizen and participant in this community. All of you who are involved in the Solve.Care project are the actual owners, voters, and governors of the DeFi for healthcare solution. This is your project and your opportunity. I want to make sure that you understand that through your ownership of SOLVE tokens, you have the right to vote, govern, manage, and ultimately create value for everyone in the real world and in the crypto space. If we think of SOLVE token holders as citizens of this republic, as governors of this republic, then it makes sense to understand the various roles that you can play. If we think of the healthcare and DeFi intersection as a solution platform then the SOLVE token holders and the SOLVE community members are the ones who are shepherding it through its various stages, evolving it, enhancing it, and managing it.

To make this possible we have talked through the details of the constitution and the rights of the participants in this solution. There are five key roles that you can play as a SOLVE community member or SOLVE token holder:

1. The first is to just be a ​citizen​. A citizen has the right to vote on the direction of this platform, the direction of what kind of solutions to focus on, and to whose benefit will each product be launched into the market. The citizen voter simply needs to have ownership of SOLVE tokens to qualify.

2. The next level of role is that of a ​governor​. Those who wish to be more actively engaged in evaluating proposals, appointing experts, and authorizing the use and distribution of funds. Those governors are appointed by the citizens and they are authorized to take certain actions leading up to a community vote.

3. The next level of participation in this solution is that of an ​expert​. This is a person who has legal, regulatory, or technical expertise that the community needs and is willing to pay for. Those experts also have to commit to the overall success and sustainability of the DeFi for healthcare solution platform. These experts also need to exhibit a certain level of SOLVE token ownership to be appointed and authorized as experts.

4. One of the biggest roles in this solution is that of a ​distributor​. This is a really important role for anyone who has access to the end user (patient, doctor, hospitals, pharmacy networks, etc.). The goal here is that the distributor brings whatever solution the community approves and builds to the end user who is responsible for delivering the solution in the real market. The point of the distributor is to make sure that healthcare isn’t just delivered in the virtual space but that decentralized finance actually delivers healthcare in the physical space of a patient and a doctor. The distributor is the bridge between the crypto space and the real world of healthcare.

5. The last role is that of a ​contributor​. Anyone of you can contribute to the appropriate asset pools that finance all these products and solutions for the healthcare market.

Depending on the role, there are different levels of SOLVE token ownership. The ownership is through proof of stake. For each SOLVE token that is staked, the owner will be able to cast votes in the community. There will be a fixed number of votes that will be allowed. We will publish all these details next week. Today, it is important for you to understand that every one of you, whether you have a small amount or a large quantity of SOLVE tokens, can participate in roles through staking.

Higher roles require community approval and community voting. A good example would be as follows: I want to become an expert in this DeFi for healthcare solution because I have great ideas on how we could use DeFi to launch specific asset pools and specific asset pool funded products and services. I would need to stake a significant amount of SOLVE token as collateral for my advice and my actions. It is not enough for me to just say I am an expert. The community must see that I am willing to commit a certain amount of SOLVE tokens to stake and the community ultimately has to approve and vote on me. Then, and only then, would my expert opinion hold any weight in the community. Similarly, if I wished to be a distributor and wanted to distribute a product (medical devices to doctors or patients, building a care center in Africa, etc.) then I must back my proposal with a meaningfully large SOLVE stake so that my proposal can be evaluated by the community as a serious proposal. If my proposal is approved, I must deposit more SOLVE tokens as collateral to ensure that the assets I am withdrawing from the pool are collateralized by some degree of performance and contracts.

All of this is very well thought through. There is an entire set of governance schemes, seven to be exact, that I will introduce next week. There is also the constitution that I referred to which gives every single role its rights. We will also publish this next week for you to take a look at. The bottom line is this, what we have designed and what I want you to take ownership of (govern, manage, enhance and scale globally) is a decentralized finance and decentralized governance platform for healthcare that can be used in the physical space of healthcare through the action and roles of the community members that I have described. All of this is built on top of the SOLVE community’s intelligence, engagement, and informed view of how decentralized finance and healthcare should intersect. Ultimately, this is built around proof of stake and SOLVE tokens.

What is the purpose of defining this as an autonomous organization above any other governance models?

When you really think about it, whatever we do today has a potential impact on every single human being on the planet. We are not just designing a solution for America or Africa, we are designing the successful intersection of decentralized finance and decentralized governance applied to healthcare in a manner that we can deliver it to every corner of the earth. The only way to scale this solution is to have the community own, govern, and engage all peoples. This mission is massive and the opportunity is not a trillion dollars, it’s more than that. For us to achieve those figures, this must be a model that can scale, and scale, and scale. We have presented to you today a model of a truly powerful DAO for healthcare which is built specifically around community governance, by the SOLVE community, around the proof of stake of tokens.

What is the role of Solve.Care?

We hope to be one of the distributors. There will be many, and we hope there are hundreds that will be approved through our community. Solve.Care will be one very engaged and active distributor. As you all know we are building the Global Telehealth Exchange at Solve.Care and we are engaging physicians, patients, and provider groups to join in. We are very excited for the next update. If we allowed the Global Telehealth Exchange community to intersect with the DeFi for healthcare community, there is a lot of crossover value. Solve.Care makes a lot of sense as a distributor, subject to community approval. In the end, the community vote is what matters, and the community vote is in your hands.

I want you to understand that decentralized finance for healthcare may have started with the idea of a handful of people but ultimately it is going to be your product, your decision, and your initiative that will make this a truly globally impactful and where a trillion dollars will look perhaps on the smaller end of the scale.

Where are we with this project?

1. The first is the white paper or technical paper which we plan to release in the next 72 hours to the SOLVE community for review. This will not be a global release but will be limited to those of you who are already engaged in our community. The whitepaper is almost finished. It is being reviewed and drafted for final proofreading.

2. The next will be to release the constitution which will define the charter, the roles, the rights, the intersection of these roles, and how committee members are appointed and removed. This constitution also covers how a vote is captured, how reputations are earned, how they impact your voting rights, and so on. This constitution will be subject to community comments and community suggestions. The Solve.Care community will be able to preview the constitution before it is published to the rest of the world.

3. The next part is the governance schemes that govern and automate the governance of this entire ecosystem. The DAO must run on a set of schemes, on a set of smart contracts that allow for truly autonomous operation of this entire global vision of decentralized finance for healthcare.

Those governance models are being designed but they will take several weeks to implement. Again, we will publish the schemes and the various contracts underneath the governance model to you for comments before they are fully released. The smart contracts will then undergo smart contract audits and review before activating this model in real life. The ability to stake SOLVE tokens and assume one or more roles will happen once the three things above have been community-approved.

We want you to be a part of the launch of the DAO for healthcare which seeks to bring decentralized finance and healthcare together. You are the owners, governors, and stewards of this DAO. My job is to make sure it stays focused on the mission. Your job then is to own, operate, and grow the DAO, making everyone proud by creating enormous value along the way. And let’s not forget the value creation. The whole purpose of this DAO is not for charity, this is a sustainable organization that creates and delivers value. Value creation through value delivery and doing so at a global scale is the mission of this DAO. This means the products and services that come out of this DAO have to be universally scalable and universally applicable to billions of people.

The DAO (Decentralized Autonomous Organization)

The next thing I want to speak about is the DAO itself. While significant effort and significant thought has been put into it, ultimately it is enriched by partnerships. There are a number of very important partnerships that are in consideration, advanced stages of discussion, and/or in contracting. These partnerships include oracles for measuring and monitoring various asset pools and their performance, medical device manufacturers who may provide devices or/and serve as distributors, provider networks who are keen to utilize our decentralized finance solution, and security and governance partners. These are all different partnerships the DAO can benefit from. And all these partnerships will be subject to the community vote.

Let me give you an example of the kind of value that our solution can deliver. Solve.Care has been in conversations with physician groups around the US that are currently seeking solutions for medical device financing. Solve.Care has been discussing with them; what kind of device volume they would need, what are the cost of such devices, who will underwrite the risk, and ultimately who will pay for these devices. This device model is an excellent fit for a decentralized finance solution and would be an example of an asset pool and a product that the community evaluates and votes on in the very early days of governance. I am sure there will be hundreds of more proposals just like this that the community can take advantage of, not just from Solve.Care but from companies, physicians, hospitals, and even patient groups themselves around the world.

In the end, what we have here is a project-based, merit-based, return and reward balanced, asset pool management system created in decentralized finance space but delivered in real life to patients, doctors, hospitals and pharmacies around the world. That is the intersection of the crypto-world and the real life that we want to achieve through the creation of this really well-thought-out DAO infrastructure.

5 Key Takeaways

1. This is a SOLVE community-owned decentralized autonomous organization. Not Solve.Care — but a SOLVE community-owned, governed, and managed DAO for healthcare and decentralized finance.

2. SOLVE token ownership is the foundation of participation in this DAO for various roles.

3. You are on the front line of taking a new step towards expanding access to healthcare and quality of healthcare around the world. Your vote will determine which solution gets financed and launched and in what part of the world.

4. Financing all the various healthcare products and services is the task of the DAO.

5. We are already building the community of physicians and network of ambassadors as part of the Global Telehealth Exchange at Solve.Care. Those community members will be able to easily participate in the SOLVE platform through the care network model, and the decentralized finance DAO.

Solve.Care will stay focused on its mission to launch as many care networks as possible, across the world, expand GTHE, increase adoption of Team.Care Network, and all other things we are doing as a platform company. Your mission as a DAO owner is to ensure that the financial solutions that you launch effect as many people positively while creating sustainable value for everyone. If there is leverage between what Solve.Care is doing and what the DAO is doing, that is ever better. I invite you all to take this all into account and get ready to participate in the three phases mentioned above.

There is a lot more to cover here. The amount of detail that has been thought through, and will continue to be thought through, and implemented, is enormous. There is an extremely detailed thought process behind the constitution, roles, governance, technical implementation, and the creation of multiple tokens that can drive the behavior and performance of each asset pool. We will cover all of this in more detail over the next couple of weeks. I will hold a series of sessions with you all to explain one topic at a time. If I tried to explain the entire DAO structure to you in one session, we would be here till midnight. We will break these into sessions of 15–30 minutes long. This was the introductory section for exactly what the DAO for healthcare looks like, what your role is and why it is focused on the SOLVE community and SOLVE token.

Very simply put, we would have never considered designing this decentralized autonomous organization if it wasn’t for the SOLVE community. It is you and your continued participation and your ownership of SOLVE token that gives me the framework to put this DAO together and then turn it over to the community. I thank you all for your continued participation. I am beyond excited as to what this represents in terms of a global impact. I stand by my words, yes this is a trillion-dollar opportunity, and this is your opportunity. Step into it, own it, manage it, and create enormous value for everyone, current and future generations. We’ll talk soon, thank you everyone!