New Cryptocurrency Hopes to Change Senior Care Industry

New Cryptocurrency Hopes to Change Senior Care Industry

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Since Bitcoin’s astronomical rise in late 2017, cryptocurrency has catapulted into the consciousness of the more mainstream investing world.  Cryptocurrency is a favorite of high-risk, young investors, but some developers are looking to push the technology into the senior care industry.

GladAge positions itself as a decentralized senior care ecosystem, and their promotional material promises the service is a more efficient manner to ensure quality senior care

The world’s population is rapidly ageing due to increases in life expectancy and demographic shifts, and the digital currency hopes to offer solutions to many senior care problems.  In an informational video, GladAge imagines its senior care ecosystem will solve issues of finding senior homes and qualified caretakers.

Gladage’s most ambitious goal is to facilitate the leasing of unused private property to social services through the use of the GladAge cryptocurrency.  These leases would be offered to seniors online, and they could screen homes and place bids to stay in the housing.

Their whitepaper is available in full, but, in its current stage, the cryptocurrency seems to have lofty goals with skimpy specifics.  It is clear the project hopes to use blockchain and cryptocurrency to facilitate better senior care, but other than offering marketing speech, it is unclear how seniors will be better taken care of in a decentralized system.

Unfortunately, government agencies often fail to fully protect the most vulnerable elderly citizens, and the world is going through a massive demographic shift.  But, decentralizing senior care could potentially expose seniors to unchecked, unregulated and unsafe care.

As with many industries, cryptocurrency offers lofty potential to reorganize the world for the better, but whether it can effectively realize that potential is another story.  

GladAge and general senior care cryptocurrency development is something to look out for.  But, the current cryptocurrency landscape seems more focused on changing financial institutions before it takes on the healthcare industry.

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ABOUT THE AUTHOR

Alec Pronk
Alec Pronk

Political writer who also enjoys playing and watching soccer, basketball and chess. I also enjoy teaching English as a Foreign Language among other subjects.

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