blupass ico review
Company: BluePass
Industry: Healthcare / Business Services
Website: https://blupass.co/
Whitepaper https://blupass.co/img/Blupass_Whitepaper.pdf
Headquarters: United States
Token: BLU
Platform: Ethereum
ICO Timeframe: 03/15/18 – 05/14/18 (PreSale)
Token Supply: 6,000,000,000 BLU (8% Crowdsale)
 Score:  52/100

 

Blüpass is an Ethereum based token that enables multiple users to access the platform designed to better connect providers, carriers, and consumers.  The platform will put control in the consumers hands to facilitate data transfers between providers and carriers for electronic health records, claims service, policy and premium verification, and much more.  The project team believes blockchain technology, supported with smart contracts, will dramatically change the insurance industry as well as the delivery of healthcare.  Currently, healthcare providers must spend a significant portion of their time and revenue on billing, health records and treatment modalities.  The provider may not have a complete picture of the consumer’s financial responsibility or health record.  In this environment, carriers attempt to limit potential fraud through a lengthy and manual claims process. This process can take up to 6 months in the current environment to pay claims. Should issues arise, consumers are often caught in a vortex of uncertainty between providers and carriers.

 

PROS:  Healthcare is one of the industries that is positioned to benefit from the use of blockchain technology, project addresses pain-points of information security concerns, information accuracy, payment delays and labor-intensive back-office claims administration, project team has been operating together in the healthcare space for over six years, experience providing technology based solutions to the healthcare industry (HRasparin), multiple members of senior management team have decades of experience in healthcare and insurance industries.

 

CONS:  A highly ambitious project, the health insurance industry is large and has shown to be relatively slow to change (electronic patient records migration has been ongoing for over a decade and still encounters resistance), implementation difficulties, project is still in early development and development team is not expected to be fully established until Q3 2018, long lead time, lack of advisory board, token allocation is heavily weighted towards founders and employees.

 

SCORE:  52/100