SOLVE

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Discover SOLVE's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is SOLVE?

SOLVE is the native utility token of the Solve.Care platform, an Ethereum-based blockchain solution designed to transform healthcare by decentralizing key aspects such as identity, data, consent, transactions, and payments. The token is required to participate in and transact on the platform, which aims to empower patients and healthcare providers through tokenized interoperability and secure data management.

How is SOLVE used?

The crypto SOLVE (SOLVE) is a native utility token used within the Solve.Care healthcare platform. It is an ERC-20 token on the Ethereum blockchain, designed to streamline healthcare payments and transactions. SOLVE tokens are used in three primary ways:

  1. Payments: SOLVE tokens are used as a global payment system on the platform, allowing healthcare providers to request payment from patients or insurance companies. For instance, if a patient orders a prescription, the pharmacy can send a payment request card with a value of $15, and if the patient accepts, $15 worth of SOLVE tokens will be transferred to the pharmacy’s wallet.

  2. Gas: SOLVE tokens are used as the gas fee to power the network, which means they are used to pay for every healthcare transaction on the platform and in every Care.Network.

  3. Fees: SOLVE tokens are used to pay fees for certain events on the Care.Platform, such as when a user creates a node. The sponsor of the node is required to pay a fee to create and maintain it.

Additionally, SOLVE tokens have other uses, including developer rights, staking, marketplace payments, and platform access fees. The token is a core component of the Care.Platform, ensuring seamless and transparent transactions within the healthcare ecosystem.

How do I store SOLVE?

To store SOLVE (SOLVE) tokens securely, you have several options:

  1. Atomic Wallet: Atomic Wallet is a trusted and user-friendly option that supports SOLVE tokens. It offers a desktop and mobile version, allowing you to manage your SOLVE tokens alongside other cryptocurrencies. Atomic Wallet is known for its private and secure environment, with no registration or KYC required.

  2. Hardware Wallets: Hardware wallets are highly recommended for long-term storage of cryptocurrencies. They provide an offline, cold storage solution that protects your private keys from unauthorized access. Popular hardware wallet options include Tangem Wallet, Trezor Safe 3, and Keystone 3 Pro, which offer discounts and support a wide range of cryptocurrencies.

  3. Software Wallets: Software wallets are another option, but they require strict adherence to best security practices. Ensure you use strong passwords, enable two-factor authentication, and store your seed recovery phrase securely. Avoid storing large amounts on software wallets, and use them primarily for trading or short-term storage.

Regardless of the wallet you choose, it is essential to follow security best practices, such as using strong passwords, enabling two-factor authentication, and storing your seed recovery phrase securely. This will help protect your SOLVE tokens from unauthorized access and potential scams.

How to buy SOLVE?

To buy SOLVE (SOLVE) tokens, you can follow these steps:

  1. Choose a Reliable Exchange:

    • You can buy SOLVE on various exchanges such as SimpleSwap, KuCoin, and other platforms that support the token. Ensure the exchange is reliable and secure.
  2. Create an Account:

    • Sign up on the chosen exchange with your email address, mobile phone number, and country of residence. Create a strong password to secure your account.
  3. Verify Your Account:

  • Complete the verification process by providing personal information and uploading a valid Photo ID. This step is crucial for security and compliance.
  1. Add a Payment Method:

    • Add a credit/debit card or bank account to your exchange account. This will allow you to fund your account and purchase SOLVE tokens.
  2. Buy SOLVE:

    • Navigate to the SOLVE trading page on the exchange and select the amount you want to buy. You can use various payment options, such as cryptocurrencies like Bitcoin or Ethereum, or fiat currencies.
  3. Transfer SOLVE to Your Wallet:

  • Once the purchase is complete, transfer the SOLVE tokens to your personal cryptocurrency wallet. Ensure you use the correct wallet address to avoid any losses.

For more detailed instructions, you can refer to the specific exchange's guides, such as SimpleSwap's "How to Buy SOLVE" or KuCoin's "How to Buy SOLVE" tutorials.

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History of SOLVE

The history of SOLVE (SOLVE) is closely tied to its parent company, Solve.Care, which was founded in 2017. Solve.Care is a blockchain-based platform designed to revolutionize the healthcare industry by simplifying administrative processes, reducing costs, and improving the quality of services. The SOLVE token, an ERC20 token on the Ethereum network, was created to facilitate transactions within the Solve.Care ecosystem.

Solve.Care's innovative approach leverages blockchain technology to secure, coordinate, and administer payments for healthcare services. This decentralized system aims to reduce fraud, increase transparency, and make healthcare more accessible and affordable. The SOLVE token plays a central role in this ecosystem, serving as the primary means of payment for various medical services, network events, and access to platform data.

The SOLVE token has several advantages, including its ability to enable direct payments for healthcare services without intermediaries, its multiple uses within the platform, and its role in creating a fully decentralized healthcare system. However, it also faces challenges such as the lack of mining options and the difficulty of implementing such a large-scale project. Additionally, its focus on the healthcare industry may limit its broader adoption.

SOLVE's historical price data is available through various sources, including TokenInsight and CoinCodex, which provide detailed records of its market performance over time.

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How SOLVE works

The SOLVE token is a core component of the Care.Chain protocol, designed to streamline healthcare payments and provide real-world utility. Here's how it works:

Tokenomics and Usage
  • Payment System: SOLVE tokens are used as a global payment system between healthcare providers, government programs, B2B clients, developers, and patients. They facilitate transactions, allowing healthcare providers to request payment from patients or insurance companies.

  • Gas: SOLVE tokens are used as the gas fee to power the network, ensuring that every healthcare transaction on the platform is processed efficiently.

  • Fees: Some events on the Care.Platform require network sponsors to pay fees, which are also denominated in SOLVE tokens.

Token Distribution and Supply
  • Total Supply: There will only ever be a total of 1 billion SOLVE tokens.

  • Revenue Streams: The revenue generated on the platform is categorized into four streams: client revenue, subscriber revenue, marketplace revenue, and partner revenue. These revenues are collected in SOLVE tokens.

Token Functionality
  • Redemption: Payments received in SOLVE tokens can be redeemed in the Care.Wallet at either deposit value or market value, depending on the network settings.

  • Validator Rewards: Validators receive rewards in SOLVE for validating events that happen in Care.Chain.

  • Publisher Payments: Publishers receive payments in SOLVE for creating healthcare applications and listing them as Care.NFTs in Care.Marketplace.

  • Reviewer Rewards: Reviewers receive rewards in SOLVE for reviewing Care.NFTs.
Technical Details
  • ERC-20 Token: SOLVE is an ERC-20 token, which is the standard for tokens on the Ethereum blockchain. This makes it easily compatible with all Ethereum Virtual Machines (EVMs) and easily adopted into Ethereum’s decentralized application (dApp) ecosystem.

  • Native to Care.Chain: SOLVE is native to the Care.Chain protocol, eliminating the need for token migration or swaps. The top-down layer structure allows for major updates to the platform without requiring any actions from users.

Overall Purpose

The SOLVE token is designed to empower all healthcare needs by providing a seamless payment system, ensuring transparency, and promoting efficiency within the healthcare industry.

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SOLVE's strengths

The token SOLVE (SOLVE) has several strengths that contribute to its utility and potential in the healthcare industry:

  1. Native Token for Healthcare: SOLVE is designed specifically for the healthcare sector, making it a unique and focused digital currency. It is built on the Ethereum blockchain, following the ERC-20 standard, which ensures compatibility with Ethereum Virtual Machines (EVMs) and easy integration into decentralized applications (dApps) on the Ethereum network.

  2. Streamlined Healthcare Payments: SOLVE is used as a global payment system within the Solve.Care ecosystem, allowing healthcare providers to request payments from patients or insurance companies. This simplifies the payment process and reduces administrative costs.

  3. Gas and Fees: SOLVE tokens are used to pay for transactions and events on the platform, acting as gas to power the network. This ensures that the network operates efficiently and securely.

  1. Multiple Use Cases: SOLVE tokens have various use cases, including business-to-business (B2B), business-to-consumer (B2C), government-to-business (B2G), and developer-to-business (B2D) transactions, making it a versatile token in the healthcare space.

  2. Decentralized and Transparent: SOLVE operates on a decentralized platform, ensuring that transactions are secure, immutable, and transparent. This reduces the risk of fraud and waste in healthcare administrative costs.

  3. Strong Development Strategy: Solve.Care has a well-planned development strategy, with a team of experienced professionals in both healthcare and blockchain technology. This ensures that the platform and token are constantly improving and adapting to the needs of the healthcare industry.

  1. Potential for Cost Reduction: By using SOLVE tokens, healthcare providers and insurance companies can significantly reduce administrative costs, which can lead to more efficient use of resources and better healthcare outcomes.

These strengths position SOLVE as a valuable token in the healthcare sector, with a strong potential for adoption and growth.

SOLVE's risks

SOLVE, as a cryptocurrency project, faces various financial risks that can impact its value and stability. These risks include:

  1. Market Risks: SOLVE is susceptible to market fluctuations, which can lead to significant changes in its value. Market risks can arise from changes in supply and demand, global economic conditions, and regulatory changes.

  2. Liquidity Risks: SOLVE's liquidity can be affected by the availability of buyers and sellers, which can impact its price and trading volume. Low liquidity can make it difficult to buy or sell the cryptocurrency quickly enough or at a favorable price.

  3. Credit Risks: SOLVE's value can be impacted by the creditworthiness of its users, exchanges, and other stakeholders. If these entities default on their obligations, it can negatively affect the cryptocurrency's value.

  1. Operational Risks: SOLVE's underlying technology and infrastructure can be vulnerable to operational risks such as system failures, human errors, and cyber attacks. These risks can disrupt the normal functioning of the cryptocurrency and lead to financial losses.

  2. Legal and Regulatory Risks: SOLVE is subject to legal and regulatory risks, including changes in laws and regulations that can impact its use, trading, and ownership. Non-compliance with these regulations can result in fines, penalties, and reputational damage.

  3. Systemic Risks: SOLVE is part of a broader financial system and can be affected by systemic risks such as economic downturns, financial crises, and global events. These risks can have far-reaching consequences for the cryptocurrency's value and stability.

To mitigate these risks, SOLVE can employ various strategies such as diversification, hedging, and risk management techniques. It is essential for investors and stakeholders to understand these risks and take necessary precautions to minimize their exposure.

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Did SOLVE raise funds?

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SOLVE’s team

  • Pradeep Goel: Chief Executive Officer at the Solve.Care Foundation, leading the development of the blockchain platform for digital health networks.
  • Mariya Ozadovskaya: Acting Chief Operating Officer and Director of Marketing, overseeing operations and marketing strategies for the platform.
  • Tae Kim: COO of Solve.Care Korea, responsible for the Korean operations of the platform.
  • Dr. Uhn Lee: President of Solve.Care Korea, providing medical expertise and leadership for the Korean branch.
  • Ed Odjaghian: Senior Executive, contributing to the overall strategy and development of the platform.
  • Ahmed Abdulrehman: Partnership Manager and Physician Relations Specialist, focusing on building partnerships and relations with healthcare professionals.
  • James Moran: Former U.S. Congressman and Advisory Board member, providing guidance and support for the platform's mission.
  • Dr. David Randall, Ph.D.: Executive Director of the American Research and Policy Institute and Advisory Board member, offering expertise in healthcare policy and research.
  • Michael Kessel: President and CEO of Cleveland Clinic Canada and Advisory Board member, providing insights from the healthcare industry.
  • Dr. Randall Lee: Assistant Professor and Fellowship Director for Medical Leadership and Operations at the George Washington University School of Medicine and Advisory Board member, contributing medical expertise and guidance.

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