PODCAST #10. Web 3.0 and Healthcare: Opportunities for Growth and Collaboration

Today we have Dr. Collier Griffin, Product Manager at Synapse Health. She has a fascinating, diverse background, and we’re touching base on how to transition into product management, the Web 3 in healthcare, building successful teams, and working with offshore teams. As a registered general practitioner, she left the medical profession to work in marketing digital products because she felt she could improve the lives of average patients more effectively this way.

Bridging Medicine, Technology, and Business

It all started with the transition from paper cards to EMRs. Product management is the best way to set up business processes to connect medicine, technology, and business. There are more than a million doctors and lawyers in the U.S., but no more than 50,000 product managers. But if you have a degree in medicine and skills in business, you have to take advantage of that because it’s a great combination.

According to Collier, you should encourage people to hire people with a medical background who know the intricacies of this world. Because when you know how things work, you ask better questions, get better answers, create better products, and spend less time. So it’s a win-win if you know how to transfer your medical expertise into product management.

When you know your target audience, you’re not creating something for the sake of creating something good but for the sake of actually using it. And the user kept coming back and wanting to use it because it made their life easier.

Doctors and Product Managers in Data Processing


Dr. Griffin makes the interesting point that a doctor’s job, like a product manager’s, involves processing a lot of data and looking for patterns.

In the startup world, you wear many hats, so you can be a product owner, a scrum master, a UX/UI designer, and a project manager.

I love a good brainstorming session, and it’s important for everyone to feel like they’ve given something to that project. That goes to basic human psychology.


Collier has worked with teams from other countries, and she emphasizes the importance of finding common ground – you have different languages, different cultures, and different perspectives on life… In her opinion, it is important to outline and present as much of the project as possible ahead of time because most people are visual and absorb information better that way.

Regarding the medical data storage system, Dr. Griffin compares the systems in the U.S. and Switzerland. Waiting times for appointments are strikingly different and not in favor of the first country. There are a lot of lawsuits against doctors and hospitals because of such gaps. But Collier has a solution:

My greatest hope is that there becomes a private blockchain for the government where everyone can keep their medical records for privacy and security. No matter what doctor you visit, it is connected to every EMR. You can instantly pull up patient records in real time and see exactly what’s going on.

Building trust and efficiency in Healthtech


Most Americans don’t have a medical mindset, meaning they just verbally tell this or that doctor what procedures they’ve had before. But it would be much more convenient if they had it all in one place, safe and sound.

You can’t get emotionally attached to a product because by getting feedback that is not the most positive, you can become a wall in defense of what you’re doing instead of hearing critics’ arguments. I have to put my voice aside, even when it comes to what I think the button should look like, and how it will work best for the user, no matter what my opinion is.

Collier also shared her view of SMM strategy – when it comes to health tech, I haven’t seen any company that uses social media to the extent that other companies in other industries might use it. You don’t have to put up silly memes and Tik Tock in health tech. At the same time, it’s not enough to just have a social media presence, especially when it comes to new technologies like Web 3. Not every company needs a metaverse. Just because you have web3 doesn’t mean you have to have a metaverse and doesn’t mean you have to have NFTs, but being able to use social media is important.

For users to come back and keep using technology, they need to know that there is good intent behind the data they provide to the company.

Building your future in diverse fields


Collier notes that her career path is not the most common, but there are nurses who have moved on to software developers, and there are pharmacists who have moved on to UX-UI designers. It’s important to start somewhere:

Go through LinkedIn, find someone who works in a field that interests you, and send a couple of people a message saying, “Hey, can you chat for 15 minutes?” You’ll be surprised how many conversations you can have just by asking because the answer is always known until you ask. So build your network and find people who are potentially in that field.



WATCH ALSO:

PODCAST #6. HOW TO CREATE PRODUCTS PEOPLE WANT: THE SECRET OF SUCCESS

PODCAST #7. EXPOSING THE UNREVEALED PRODUCT SUCCESS: WHAT CONNECTIONS ARE KEY?

PODCAST #8. HOW INTELLIGENT PRODUCT DEVELOPMENT CAN IMPROVE INNOVATION EFFICIENCY

PODCAST #9. HOW TO SUCCEED IN PRODUCT DEVELOPMENT: ADVICE FROM A PRODUCT MANAGER

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The APP Solutions launched a podcast, CareMinds, where you can hear from respected experts in healthcare and Health Tech.

Who is a successful product manager in the healthcare domain? Which skills and qualities are crucial? How important is this role in moving a successful business to new achievements? Responsibilities and KPIs?

Please find out about all this and more in our podcast. Stay tuned for updates and subscribe to channels.

Listen to our podcast to get some useful tips on your next startup.

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What Is Web 3.0? Internet Next Era Based on Blockchain

Web 3.0 is heard everywhere, no matter what resource you go to, what forum you open, and any social media platforms… New buzzword – this is how people who do not share the general enthusiasm speak about Web 3 with a slight touch of disdain. However, they are clearly in the minority. Everyone talks about it with enthusiasm; they see the future behind it.

Web 3.0 is followed by blockchain, cryptocurrencies, non-fungible tokens (NFT), and many more terms that make your head spin if you are not in the loop. And, of course, you have to be familiar with the matter! We don’t know precisely how long Web 3.0 will last or if Web 4.0 will replace it. However, without understanding the general principles of technology, your business will not last long.

 

What is Web3? The Decentralized Internet of the Future Explained

At one time, the World Wide Web blew up the “market” of information online, which now, located on the network, could be available to anyone with the Internet, anywhere on the planet. Web 2.0, in turn, has radically changed the principles of communication. And Web 3.0 is more about values ​​and meanings. Web 2 is an interface revolution, and Web 3 is a backend revolution.

What Is The Difference Between Web 2.0 Vs. Web 3.0?

The term Web 3.0 itself originated in 2014. Ethereum co-founder Gavin Wood created it. Simply put, Web 3.0 is a decentralised way of communicating on the Internet instead of the centralized storage that Web 2.0 offers. This significantly increases the level of security and safety of personal data. And all this is possible thanks to the blockchain system.

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What is Blockchain

Blockchain is a database that is different from other similar decentralized networks. It does not have a single owner who could use the information stored there at his discretion by right of ownership. Instead, the participants collectively manage the blockchain database, and it is available to anyone. At the same time, stealing this surface data has become much more difficult.

The idea is that everything you do, from shopping to social media, is handled through the same secure processes, providing both more privacy and more transparency.

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The blockchain system uses the principle of cryptography for protection – information is stored in blocks, which, to form a single whole, line up in a chain. Hence the name. In order to somehow distinguish between blocks, each of them has its own timestamp, data, and a hash pointing to the content.

These shares can be managed by people who have enough tokens or crypto. If you have enough of these tokens, you have the right to vote on the network. Governance token holders can spend their assets to vote on, for example, the future of the decentralized lending protocol.

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What is Web3 in Crypto?

When you hear about web3, you will notice that cryptocurrencies are often part of the conversation. This is because cryptocurrency plays a significant role in many of these protocols. In addition, it provides a financial incentive (tokens) for anyone who wants to create, manage, contribute to or improve one of the projects.

These protocols can offer many services:

  • Calculations
  • Storage
  • Bandwidth
  • Identification
  • Hosting

 

Service consumers typically pay to use the protocol, similar to paying a cloud service provider today.

Cryptocurrencies have created a robust market for decentralized finance (Defi), which is only growing every year. Web3 applications are often based on a technology called Ethereum, which, like bitcoin, rewards users who help maintain its network. This coin is called Ether, which has a total market value of $511 billion.

The apps themselves can also have linked tokens that can not only pay for services, but also act as voting shares that govern the development of the apps, and even the fee structure.

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What is a Web3 app?

Web3 applications run either on blockchains or in decentralized networks consisting of many peer nodes (servers) or in a combination, forming a crypto-economic protocol. These are decentralized apps.

At the heart of Web3 are distributed applications (or dApps) built using the Ethereum blockchain that pay users to help keep it online. Dapps play the same role for Web 3.0 that the App Store has played for the Apple ecosystem so far.

How Does Blockchain Amplify Adtech Industry

More than 8,700 active decentralized applications are registered on the DappRadar tracker. They include many crypto trading platforms and games. Sometimes the line between the two is blurred: many games involve winning and trading non-fungible tokens, or NFTs, virtual characters, or collectibles that can cost sky-high prices.

Most decentralized apps are now used for a cryptocurrency exchange or NFT trading. A small percentage of dApps are games that can be played to earn money in cryptocurrency.

Web3 and NFT

Speaking of games… In Web 2.0 iteration, gamers can only resent the number of bugs in the next sequel to their favorite game. With Web 3.0, users can vote on the necessary changes with their tokens and, in fact, build the game as they like. NFT is also on the wave in the gaming industry. Game fans are buying up items placed in virtual reality.

And in general, now a musical composition or a picture in a museum, as well as any meme, and even your cat, can become tokenized. So, one of the notorious NFT Rare Bored Ape Yacht Club was sold in 2021 for $3.4 million!

nft-marketing-campaigns-bloated

If earlier venture capitalists participated in developing a game (and, in general, any other product) with their own money, who dictated to the creators the conditions under which profit would be possible in the shortest possible time, now anyone can financially participate in the development. The company announces the release of x number of tokens, gives 10% to early investors, puts up 10% for sale, and saves the rest for future payments to contributors and project financing.

Someone will probably think this principle is too similar to a financial pyramid. However, all blockchain data is entirely public and open, and buyers have complete transparency about what is happening. At the same time, network marketing companies that do not shun fraud keep everything a secret.

 

Web 3.0: Prospects, Issues, and Challenges

The idea of ​​a decentralized internet looks attractive. We immediately imagine freedom from the “oppression of the capitalists” who monopolize entire areas of our daily lives. However, not everything is so rosy.

Who is currently investing in Web 3.0 the most? Venture capitalists, big tech companies, and hedge funds with multi-million dollar capitals. Accordingly, modern blockchain networks are unevenly distributed. In other words, the encryption keys for multi-million dollar sums are in the hands of just a few large investors. It’s just that information is now stored in more than one place, which is really much more difficult to control. Still, if at the same time you hire a lot of figureheads who will be participants in the decentralization scheme, then the whole idealistic principle comes to naught.

Some experts go further, arguing that Web 3.0 is the same centralized organization, just with a different name. Needing no introduction, Elon Musk says Web3 is more of a “marketing buzzword” than reality.

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It is worth noting that some cybersecurity experts emphasize that although it is more challenging to hack data in the blockchain format, it is also almost impossible to prevent such a hack. After all, the problem is not whether people can easily access it, but whether they know how to manage their data securely. An example of such a problem would be the widespread theft of cryptocurrencies.

Many projects don’t even list contact numbers, although they may support online chat groups. If you accidentally type in a typo and send money to the wrong account, it could be lost forever. You will not be able to solve the problem as if you called the bank’s customer service. After all, if earlier it was the bank that provided the security of your finances, then in Web 3.0 – God helps those who help themselves. With freedom, you get a responsibility that not everyone can handle.

Skeptics believe that many of the requirements underlying Web3, such as distributed architecture and decentralization, are better implemented without blockchains. Since building a decentralized structure based on a centralized one does not radically change anything.

How To Make A Personal Finance App 

In Conclusion

So, does Web 3.0 technology, which has not yet become firmly established in everyday life, no longer justifies itself? As in any innovative solution, there will always be people who simply want to make money on fraud, but also enthusiasts who will create genuinely amazing things. So, is Web 3.0 a boon or a slightly updated Web 2.0? This will be shown in the next decade. In any case, a lot depends on how the big players behave.

The APP Solutions always strives to be at the forefront of the latest technology. For us, Web 3.0 is not something from the distant future but a completely unambiguous reality with which our employees work closely. Therefore, if you are interested in developing in the Web 3.0 area – feel free to write!

Credits to Depositphotos

What is a Dapp? Understanding Decentralized Applications

The last decade in Internet technologies was marked by the complete dominance of Web 2.0, which implies centralization. This means that any application you deal with is owned and operated by one person or a stakeholder group that decides what the app should look like and where it should go. Often this course is chosen by business laws and against the users’ wishes who can do nothing in response except to declare a boycott. However, an alternative to a striking app would be the same app with roughly similar rules and laws. So how do we get out of this vicious circle?

It seems that a solution has been found, and decentralized applications can become such a solution.

decentralized-storage

What is a Centralized Application?

To understand how decentralized applications work (dapps for short), we first turn to their predecessors mentioned above.

Centralized applications are managed and owned by a single company and run on a single server or server cluster. The principle of operation is simple: someone downloads a copy of the application, and the application works by sending and receiving information from this server.

In other words, the application will not work if it is not associated with this server. If the centralized server fails, the app stops working on user devices until the problem is fixed.

Examples of centralized applications include Facebook, WhatsApp, Netflix, Steam…

What Is The Difference Between Web 2.0 Vs. Web 3.0?

Centralized apps have several distinct advantages over dApps. As a developer, you retain complete control over the application and how it is used. Centralized applications can usually handle large amounts of traffic.

Moreover, it is much easier to update the centralized application since the update is automatically sent to the user’s device.

All this suggests that there are disadvantages. In the event of a system error, no one will be able to use the application until the problem is resolved, which may cause inconvenience to your customers. Also, you may incur higher cybersecurity costs as you need to secure the central server.

user-privacy-on-social-media-platform

What are the Decentralized Applications (Dapps)?

And now, let’s go directly to the “protagonist” of our article. Decentralized Applications, also called dApps or simply dapps, are digital applications that operate on a blockchain or P2P network (such as BitTorrent, where participants both download and distribute content simultaneously). Thus, we see that these applications existed long before the Web 3.0 era. But they were just isolated cases.

Instead of downloading the application, the user pays the developer a certain amount in cryptocurrency to download the smart contract or source code. Thus, there is no single center for the “distribution” of data. DApps are most often created on the Ethereum platform.

What Is Web 3.0? Internet Next Era Based On Blockchain

Ethereum is a flexible platform for creating new dApps, providing the infrastructure developers need to innovate digital applications. In this way, you can quickly deploy dApps in any industry of your choice. Today it is decentralized finance (DeFi) and banks, ecommerce, games, social networks, that is, in all those areas in which we most often resort to the services of centralized applications. 

What is Dapp Used for?

Speaking about the practical application of dApps, among which:

  • DeFi (in 2021, the cryptocurrency market was about $40 billion)
  • Digital collectibles (NFT market)
  • Gaming/Gambling
  • Communication
  • Marketplaces
  • Healthcare (blockchain as a logistics method in pharmaceuticals)
decentralized-credit-service-financial-institutions-and-other-types-of-dapps

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A decentralized application must generate digital assets that serve as proof of value.

An example of a social network as a dApp is Peepeth, similar to Twitter in its communication principle. In Peepeth, the difference is that you won’t be able to delete your post if you change your mind. But, on the other hand, no one will remove it at anyone’s request.

With games as an example, the fun app Cryptokitties immediately comes to mind, where users can buy and sell virtual funny cats.

What is Dapp Cryptocurrency?

Here, dApps work on the same principle as in any other area. It is open-source and free from interference from anyone’s authority.

Internally, dApps interact with the respective blockchain network through a wallet that bridges the blockchain ecosystem.

Wallets manage your address on the Ethereum blockchain and the cryptographic keys needed to identify and authenticate you. Instead of using the HTTP protocol to communicate with the blockchain, dApp wallets run smart contracts that interact with the blockchain and execute transactions.

Once smart contracts are deployed on the decentralized network, you cannot change them. Dapps can be decentralized because they are controlled by the logic in the smart contract, not by an individual or company. It also means that you need to design your smart contracts carefully and test them thoroughly.

ethereum-dapps-underlying-blockchain

Pros and Cons of Decentralized Apps

Decentralized applications definitely have their benefits, depending on what you need from your application.

First, because there is no single server, users will not lose access to the application if the server goes down. Secondly, since there is no centralized storage, user data will not be compromised in the event of a data leak or hacking attempt.

Decentralized systems based on blockchain or other distributed ledger technologies avoid the single point of failure problem inherent in systems based on centralized servers. In addition, the blockchain has robust consensus mechanisms that make it resistant to malicious attacks.

network-congestion-and-other-cons-as-well-as-pros

However, dApps have a few drawbacks.

Your target audience is smaller because cryptocurrencies and blockchain are not yet mainstream technologies. Moreover, because dApp transactions are often slower and more expensive than centralized, it can be difficult for you to get people to your dApp in the short term.

Finally, since there is no centralized deployment, fixing bugs or updating software on user devices is much more difficult.

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The fact that all dApps are essentially open-source allows developers to build on each other’s work, combine and recombine different elements from different projects to create new types of applications and services. This encourages innovation and allows the space to grow and develop in exciting and often unexpected ways.

user-interfaces-written-by-ethereum-developers

How to Make a Dapp?

It should be mentioned right away that the easiest way to do this is on the Ethereum protocol. This platform is maximally adaptive for any developer’s idea since it was created to come up with innovative solutions based on it.

How Does Blockchain Amplify Adtech Industry

Next, we will provide general step-by-step recommendations on how to build a decentralized app.

  • Create a smart contract (it is the base for any dapp)
  • Take care of the front end (even if your users are knowledgeable in blockchain technology, you still need to work on UI/UX to attract not only new consumers but also retain old ones)
  • The back-end must be centralized (yes, and here we are forced to return to the direct competitor of dapp if your application is not only ordinary transactions but also add extra features)
  • Include QA (as already mentioned, changes in the code after entering production are almost impossible, so testing of such applications should be carried out much more carefully than it is with standard applications)
  • Deployment and support (download dapp to your usual App Store and Google Play and don’t forget to update the user interface from time to time)

How To Make A Personal Finance App 

As you can see, you can’t do without professionals here because, in addition to creating a dapp, you need to consider interactions with external user interfaces that would attract users with their usability. And at the same time, create an ecosystem of comparable analytics and server system.

The APP Solutions is committed to achieving long-term results in conjunction with its customers and will be able to choose the best solution for you.

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Key Takeaways

So what is a dapp? Decentralized applications are emerging with over 70 million users worldwide, but many more users are downloading centralized applications. But, of course, like any innovation, not everyone is ready to accept dapps with open arms, considering it an overrated idea, fun for a limited circle of people.

However, the real competition between dapps and centralized applications and the entire technology of Web 2.0 as a whole can be spoken of as technology develops when more and more new opportunities open up.

Credits to Depositphotos