Today there are over 200 new cryptocurrencies with a total market cap of over $585 Billion (1/16/2018). These currencies are traded on exchanges just as stocks are traded on Wall Street. A company wanting to raise capital by way of an ICO/ITO (initial coin/token offering) will do so by issuing “Tokens” which have a monetary value in the crypto world. You can see the massive activity by going to Coin Market Cap. To clarify the difference between a “coin” and a “token”, a coin is the base currency such as Bitcoin or Ether and the Tokens are issued and similar to “tickets or certificates or gift cards”.
The advantage of crypto currencies over normal currencies is faster and cheaper transactions. A merchant may pay 3.5% to accept credit card payments and a credit card holder may pay 24% annual interest (highest legal rate) to use normal currencies to purchase goods. In comparison, a crypto currency will only cost a fraction of 1% by both transacting parties. These are called “trustless” transactions because they are peer-to-peer and without a trusted intermediary such as a bank. In actuality, they are really "trustful" transactions because the encryption and code as well as the distributed ledger technology does not allow for fraud.
For a more detailed explanation of a Token.
Introduction to our STO
Nimbus-T has patented Nimbus-Key ID technology for enhanced security around patient identities and access to your medical information across healthcare systems. Hospital information systems are behind the curve when it comes to security and it is your medical and personal information that is at risk. Our technology is about 80% complete and we need the ICO for funding the completion and rollout of our technology. You can help us achieve this goal and move healthcare toward a more secure and efficient system.
Ultimately we see your Nimbus-Key or encrypted global identity as the protection for aggregating all of your healthcare information in a secure manner. Imagine your doctor being able to see a new portal with an array of information from your digital health to your genomic data that you have control over. Then imagine having control of that information so that you may participate in clinical trials as a patient and be paid for it? The new blockchain technology creates a distributed ledger on the Ethereum platform to secure that information as well as transactions across the platform.
In the United States, health insurance carriers are very inefficient in orchestrating healthcare payment transactions, there is a 40% loss due to excessive paperwork, oversight, and adjudication. In the future, we hope to introduce a new health care payment system that removes such inefficient intermediaries and provides a peer-to-peer secure transaction architecture.