Bitcoin: How to Save Healthcare, the Economy, and Put America... Abstract: Edward S. Conkle

Bitcoin: How to Save Healthcare, the Economy, and Put America Back to Work
Edward S. Conkle
[email protected]
A form of private enterprise, independent of all governments whose sole purpose is to
pay for the needs of a population based solely on capitalism and consumerism. The
sole purpose of this organization would be to create jobs, pay for healthcare, and make
a country recession resistant. There is a worldwide need to efficiently serve the public,
lower healthcare costs, raise economies, and create jobs. As such, a new company
with partnerships can fill that role within any society of any size. A system of branded
products sold to the public, which the public needs and purchases anyway, coupled with
investments in consumer stocks like power, water, oil, and electric companies could
maintain a population’s health needs indefinitely from profits only, while also providing
jobs to manufacture the branded goods, bring a country out of recession by investing in
its consumer stocks for returns, and providing upward mobility to its citizens. This will
be facilitated by the use of bitcoin. By using bitcoins for citizen to services rendered
freely from the corporate entity, bitcoin would no longer be volatile as it is now and
become a legitimate investment vehicle. The government of this citizenry will not have
to collect taxes anymore because those services will be rendered by the enterprise
itself. In America that would mean no more Medicare or Medicaid as this role would be
filled through
In order to maintain a population and its growth it is necessary to use the population as
a standard. That is why it has always been necessary to link the population to the
services it needs to thrive. Traditionally this has been through taxing by governments in
order to subsidize or spread out the needs of a given population. This form of taxation
has never done well, as it does not efficiently serve the public’s needs. Most often it
becomes over taxation and the system collapses in on itself causing revolts and
revolutions as seen throughout history. In order to efficiently serve the needs of the
public a tax free profit system needs to be put into place. Once in place, a profit based
system would need very little or no maintenance. This is due to the fact that to pay for a
system to take care of a population would not require the population to do anything
other than it always has. In short, the normal goods and services you purchase would
pay for the care and maintenance of the citizenry it serves by investments or wholly
owned entity’s profits. The transfer of money between services provided to citizens of
the given population and the corporate entity will use bitcoins (or another
cryptocurrency). Cryptocurrency is the perfect medium to facilitate quick payments to
partners, and maintain the system itself. Any cryptocurrency will work for this need. If
bitcoin is not stable enough a new cryptocurrency can be generated from an American
corporation such as Google, Microsoft, or Apple at a pre negotiated starting price per
coin, and mining of the coins from partners of the corporate entity can strengthen the
system. As of the time of this writing bitcoin is stable enough to fill this role.
Structure (USA as an explanation example):
A bread factory is opened in Providence Rhode Island. That bread is made by a wholly
owned company of The company that makes bread is
called “bitbread”. Bitbread hires new employees to make the bread. This brings jobs to
Providence. The bread is distributed and sold to the surrounding states at a competitive
price in all grocery stores. The profit of making that bread goes into buying bitcoins. A
wallet to hold bitcoins is made to hold the bitcoins for every city in every state
(sometimes several wallets). It is important not to keep all coins in one place due to
security threats. Each patient will receive an ID card. This ID card will have the
individual’s picture, name, date of birth, address, and a scrambled QR code. The only
device capable of unscrambling the QR code will be provided to healthcare providers
and/or approved service providers. Bitcare providers will use a common web based
computer system (EMR/EHR). A patient will visit the healthcare provider at a pre
negotiated price. All prices of services will be set by ICD10 code (ICD10 is the
international classification system for healthcare practitioners). For this example I will
use ICD10 code Z00.00 meaning “Encounter for general adult medical examination
without abnormal findings”. ICD10 Code Z00.00 (for this example) is set at $125.00.
After the examination the doctor’s office will add this to the patient’s chart, then take
their medical ID card use a special device to unscramble the QR code, and scan it into
the bitpay system. The office will get their money of $125 deposited immediately from
the wallet created by for that area. The bitcoins would
then be sold back to at a pre negotiated price from
bitpay, and also mined at affiliate locations. Eventually as more bit companies
(bitshoes, bitpaper, bitcars etc…) are opened and investments made, more states and
cities will be added. The system is self-sustainable, and everyone pays into it in some
way or another, as everyone consumes. Eventually it will expand overseas, and it will
not matter where you are in the world you will be able to go anywhere you want to see
any doctor you want in the bitcare network for free (or at the beginning seriously
reduced prices). Ultimately this will bring the cost of healthcare down, raise quality of
care worldwide, create industry, get government out of the way between patients and
doctors, make healthcare free, create jobs, end recessions, and lower taxes.
Partnerships can be formed to facilitate patient travel through the website to visit their favorite doctors. Phone apps will be
made to find a practice that speaks your language within the network while you are
travelling. This is a practical self-sustaining system.
Explanations and Answered Questions:
Bitcoin is a peer-to-peer system of exchanging local money on a globally excepted
cryptographic medium instantaneously. As such, this medium which is also mostly
anonymous meets many of the requirements for all functioning healthcare privacy
systems. If bitcoins were accepted for payment of health services it would stabilize the
volatility of the bitcoin, allow competition between hospitals and healthcare providers
worldwide, make insurance companies take a back seat in healthcare (insurance will be
relegated to prescription drugs only), and render The American Affordable Care Act
insignificant. A world wide database of healthcare providers that are bitcare health
providers in every country will be constructed and their prices of specific services they
provide in their local currency (this could vary depending on country due to exchange
rates etc…). Providers can be found through the website and made searchable by
languages spoken, country, and practice type. A smartphone application will be made
to facilitate the search for providers for where ever you are, and what you currently
Case 1: A tourist visiting France becomes ill or injured. That individual can use their
phone to select from languages spoken, country, and practice to find a healthcare
provider that will meet their needs bypassing insurance approval, and getting treatment
quickly in their language.
Case 2: A patient is denied a lifesaving treatment because of age. That patient can use as we will never make a determination as to whether
what country or what treatments a patient needs. This is between you and your doctor
only. If a patient is refused treatment because of age or any other discriminatory
practice, that practice or hospital will no longer be allowed within the bitcare family.
Case 3: A patient has a pre-existing condition. Because everyone pays into bitcare in
some way or another for actual tangible goods, the risk of pre-existing conditions is very
small in the worldwide pool. Because one country’s healthcare system is not stressed
by preexisting conditions, treatments will be affordable with minimal insurance required
if any.
By: Edward S. Conkle
Consumables for sale.
Medical Record System
No fee
Patients are free to go to any provider worldwide (flying is an extra paid service)..
Bit Industries
Operational Costs
Mining Operations
Payment to providers in local currency.
Wholly owned by bitcarehealth
Release of funds and bitcoins
Profit from consumables
Mining Profit
Profit from Investments
Operational Costs
Strategic Partnership Offering flights to preferred medical practices worldwide .
Medical Records Check and Fraud Monitoring