Blockchain

Addressing Challenges Faced by the Geriatric Care Industry with Blockchain Technology

Innovation is much needed in the geriatric care industry.

The geriatric care industry is a fast-growing one and is expected to be worth up to $1 trillion by 2024. This is due to people living longer than before. The percentage of people aged 65 and above will double to 17 percent of the world’s population by 2050. This brings up to 1.6 billion people in that category compared with 34 years before that at 8.5 percent, which are 617 million people. Profound changes in an industry also bring about profound opportunities. There are significant shortages in old age homes, suitably trained employees, and well-managed and efficient processes in the geriatric care industry.

Capitalizing on the Blockchain Revolution

The blockchain technology is able to deliver many advantages for this industry. This is primarily centered on the immutability and security of data held by the blockchain technology. Sensitive information such as user and caretaker profiles, health data, credit scores, and financial records can be secured with ease. In addition, blockchain technology is open source; features improved capacity, and are capable of enough automation to be rid of scams and frauds that can be targeted specifically at elderly people.

Sunny Kapoor of GladAge and the Launch of its Native Token GAC

GladAge is a decentralized senior care ecosystem powered by blockchain technology.

Based on the upcoming changes expected in the geriatric care industry, Sunny Kapoor has established GladAge as a solution utilizing blockchain technology. As the founder and CEO, Kapoor firmly believes that with decentralization, finances can be fairly distributed. On top of that, transparency can be achieved for the benefit of not only the seniors but also for all other stakeholders involved including service providers, employees, and property owners. Kapoor is very much driven by the duty to embrace the blockchain revolution, as he believes in it lies the solution for much of the present day issues the world faces. With the abundance of data available in the global network, blockchain technology will be the bridge that brings about the next industrial revolution. GladAge is currently still having its pre-sale of its native token, GAC after meeting its soft cap of $2 million. GAC will be utilized to build an ecosystem for senior care involving the leasing of properties, incentivizing with a rating systems for employees, shopping for supplies, and so on.

Author: Author : Kate

Accomplished Writer from Australia and a new crypto enthusiast. Enjoy freelancing in spare time and contributing to Cryptonewsbytes since Dec 2017.

The following two tabs change content below.
Accomplished Writer from Australia and a new crypto enthusiast. Enjoy freelancing in spare time and contributing to Cryptonewsbytes since Dec 2017.

Leave a Reply

Be the First to Comment!

  Subscribe  
Notify of