BLOCKCHAIN FOR CHAIN PREVENTION,MONITORING AND EVALUATION

Blockchain technology has the potential to solve interoperability challenges present in health systems. Indeed, blockchain has great promise to be the technical standard for management of data for health consumers, researchers, providers, payers, suppliers. Blockchain can securely share electronic health data. A health IT infrastructure built on blockchain technology has far-reaching potential to promote the development of precision medicine, advance medical research and invite patients to be more accountable for their health.

We propose to use the blockchain technology to create incentives for

a. for consumers of health who adopt healthy behaviors

b. educators who provide high quality education to their learners

c. researchers who propose original research projects addressing problems of everyday concern

d. researchers who publish their work on peer reviewed professional journals

e. researchers who present their work in professional conferences

f. medical doctors who do their best to provide care of highest quality possible

Benefits of the Ubricoin

Ubricoin will benefit you, the consumer of health and other services. Consumers will receive Brevis airdrops from shopping on Soko Janja. Brevis airdrops are monetized loyalty points issuing from the point of sale platform on Soko Janja. Consumers will also give direct feedback to providers, through the rating systems. Providers receiving good ratings will be rewarded with Brevis airdrops. Consumers will experience increased access to health generating produce products and services.

Providers of health accepting Ubricoin as payment at the point of sale will receive Brevis loyalty tokens, service quality tokens, direct feedback from consumers. Providers will also give direct feedback to consumers, such that consumers who adopt good health habits will be rewarded with Brevis. Payers of health using Ubricoin for payment transaction will experience dramatic reduction in payment fraud. Providers will be paid only for honest work. Payers will enjoy simplified payment system built on blockchain.

Suppliers of products and services to the health system will enjoy simplified payment system. They will receive Brevis airdrops and service quality token. They will also receive direct feedback from consumers, and in turn will give direct feedback to consumers.

Regulators of health services will create intelligent regulation based on real-time data. This will ensure good governance. They will receive Brevis airdrops and service quality token. They will also receive direct feedback from consumers, and in turn will give direct feedback to consumers.

Local and international non-governmental organization will enjoy simplified data gathering for needs assessments, project implementation evaluation, and post implementation evaluation. They will receive Brevis airdrops and service quality token. They will also receive direct feedback from consumers, and in turn will give direct feedback to consumers.

International development organizations concerned with global health will have a system for easy tracking of diseases of global health concern, detecting diseases before they become epidemics. They will also enjoy simplified data gathering for needs assessments, project implementation evaluation, and post implementation evaluation. They will receive Brevis airdrops and service quality token. They will also receive direct feedback from consumers, and in turn will give direct feedback to consumers.

Ubricoin

Ubricoin utility token is a token issued in order to finance development of a company/organization. Ubrica proposes to build science and technology parks for translation and commercialization of science in Africa. Use cases for utility tokens in science and technology parks

People who purchase the Ubricoin utility tokens will gain access to products produced by innovators and researchers in the parks. Holders of the token will be able to purchase products directly from the parks at a much lower price as compared to people who do not have the tokens and purchase goods directly from the market.

Ubricoin for development

Ubricoin is developed on blockchain to improve health quality. Ubricoin will serve in development of global health industry and create market intelligence through a cryptocurrency reward system to inspire positive contribution to health improvement around the world.

A smart review system will be used to reward consumers for positive health behavior, educators and researcher at all levels of education will also receive rewords for excellent work.

Ubricoin will help in improving health related quality of life and quality adjusted life years, Ubricoin will ensure a future where everybody has access to the best health products and services.

UBRICOIN DISTRIBUTION

We plan Ubricoin sales in the following manner: 1 billion (10%) UBCs for design, development, management and scaling of Soko Janja 2 billion (20%) UBCs for design, development, construction and management of Ubrica Retail Clinical Centers (URCCs) 2 billion (20%) UBCs for design, development, construction and management of Science and Technology Park (STPs) 3 billion (30%) UBCs for design, development, construction and management of Biomedical Industrial City (BMIC) 2 billion (20%) UBCs will be reserved for community development and Ubrica team. FIGURE 3. UBRICOIN DISTRIBUTION PROGRAM (Note. SJ = Soko Janja; URCC = Ubrica Retail Clinical Centers; STP = Science and Technology Parks; BMIC = Biomedical Industrial City; CD = Community Development and Team) SMART CONTRACTS Smart contracts help exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman. Smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations. Ubrica smart contracts will facilitate, verify, negotiate and conclude contracts between individuals and their contracting party. Due to these smart contracts holding value, individuals may participate or audit all Ubricoins smart contracts. All smart contracts are connected to one super smart contract (SSC) but don’t lose their individual rights. If a smart contract cannot be fulfilled due to performance impossibility (death), then the SSC saves the holder’s rights.

LEGAL FINDINGS ON BLOCKCHAIN AND CRYPTOCURRENCY IN KENYA

The era of blockchain and cryptocurrency is with us. The question that remains is; Are the blockchain transactions legal? In this short journal I will try to bring out the news on the ground and what the Kenyan legislatures have commented on the topic and where they actually hold their ground.

First is to understand what blockchain and cryptocurrencies are. Blockchain in the lay man’s terms is a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly. Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

The niche of the cryptocurrency definition that I would like to expound on and which forms the basis for the legal structure is that cryptocurrency operates independently of a central bank.

This takes me back to 2015 when the Central Bank of Kenya (CBK) released two circulars one to the general public and the other to the banks in Kenya.

The circulars had one message in common that the public and the banks should refrain from using or transaction in bitcoin and cryptocurrencies. The bank informed the public that virtual currencies such as Bitcoin are not legal tender in Kenya and therefore no protection exists in the event that the platform that exchanges or holds the virtual currency fails or goes out of business.

Among the reasons they cited by the Central Bank’s stand were:

  • Transactions in virtual currencies such as bitcoin untraceable and anonymous making them susceptible to abuse by criminals in money laundering and financing of terrorism.
  • Virtual currencies are traded in exchange platforms that are unregulated all over the world. Consumers may therefore lose their money without having any legal redress in the event these exchanges collapse or close business.
  • There is no underlying or backing of assets and the value of virtual currencies is speculative in nature. This may result in high volatility in value of virtual currencies thus exposing users to potential losses.

The CBK then cautioned the banks in Kenya and all institutions against dealing in virtual currencies or transacting with entities that are engaged in virtual currencies. They were advised not to open accounts for any person(s) dealing in virtual currencies such as Bitcoin. Failure to comply with the directive would lead to appropriate remedial action from the Central Bank.

This could well be understood from a legal aspect as the Central Bank’s notice could be view as a precautionary measure protecting the interests of the bank. Mainly this could insulate the Central Bank of Kenya from any legal proceedings in relation to cryptocurrencies in the event one loses their money via cryptocurrency.

It should also be noted that the statute creating the bank, The Central Bank of Kenya Act, Cap 491 Laws of Kenya only defines two types of currencies as defined as under Sec 2 of the Act:

·         currency means the currency of Kenya or foreign currency;

·         currency of Kenya means bank notes and coins issued by the Bank under section 22(1) and any right to receive such bank notes or coins in respect of any credit or balance at a bank or financial institution located within or outside Kenya;

·         foreign currency means bank notes or coins which are or have at any time been legal tender in any territory outside Kenya and any right to receive such bank notes or coins in respect of any credit or balance at a bank either within or outside Kenya;

It is thus not in the Central Bank’s power to regulate cryptocurrency, unless the statute is to be amended. The Bank is given the power to regulate transactions relating to currency which is physical unlike cryptocurrency which is virtual. The transactions are not traceable when compared to the normal currency transfer.

This will make one query, who then is to regulate cryptocurrencies? Which institution is to deal with these type of transactions?

These are questions in every investors mind. If I buy a coin in the initial coin offerings (ICO’s), how can I protect myself against fraudsters and business vultures who are only there for the wrong reasons and not investments?

According to research done many have answered these questions with the view that liability should be on the company and/or persons who are selling the cryptocurrency. Thus the only way to regulate the Cryptocurrencies is by regulating the companies that are going into the business. This can be done by analyzing their business projections which are usually laid out in the whitepaper. The company should be kept under checks and balances to ensure that the objectives of the company and promises made to investors have been reached.

Kenya’s Company law gives a company its own entity as a legal person which can own property, do transactions, sue and be sued. The company’s articles and memorandum act as the guiding light for the company. Thus, regulating cryptocurrency on the company level would be the most reasonable approach in regulating cryptocurrencies.

Recommendations:

In conclusion to this first part of the journal, it is my recommendation that we should as a country, develop an act regulating the crypto field. The act will seek to establish a body that will, as one of its duties, regulate all companies transacting on cryptocurrency and blockchain technologies.

This in my view will work to regulate the companies and the projects they are to initiate, it will deter those using companies as fronts for their illegal dealings from establishing these schemes in Kenya and finally it will work to protect the consumer in this case, investors, from losing their money on investments.

This will also see the growth of the economy as many investors and innovators in the science and technology department will come up. The misconceptions and myths of the technology will have been fully addressed thus reducing the negativity the technology is facing in the country.

 

Written by,

Kihara Kang’ethe,

Legal Advisor,

Ubrica Legal Office.

 

Blockchain for Global Health Financing

UBRICA creates a blockchain to be the fundamental answer to global health. Ubricoin is a cryptocurrency built on Etherium blockchain. Ubricoin a peer-to-peer Internet currency that will enable payment to anyone in the world to facilitate global health. We will use the coin to support, design development and implementation of Ubrica project. Ubrica project involves building capability for high quality life-science and health-production (LSHP) in Africa. The physical project is housed in Kenya. The project will create in Kenya a node for a highly advance biomedical research and development and highest quality health care services. The project will ensure sufficient funding for discovery of solutions to most vexing health problems in the world emerging from the African continent.

About UBRICA

We are a life-science and health production (LSHP) organization. We sponsor investments in life science, comprising pharmaceuticals and medical devices manufacturing, and fully integrated health production by building sustainable one-health communities involving people co-operating in a retail network combined with health delivery system. In addition, we sponsor investments in specialized real estate for life science and health production. Our primary focus is African countries.

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UBRICA PHARMA LIMITED

Kenya is a rapidly developing country based in East Africa. There are 48 local pharmaceutical manufacturing industries with 21 industries actively manufacturing generic drugs for local and export market.  Despite this, the country still relies heavily on imported drugs to service the public health needs. In 2010, the country imported $409 million worth of drugs. In the same year, donor communities spent an additional $693 million to purchase drugs for pandemic diseases including malaria, tuberculosis and HIV. The local pharmaceutical industries only managed to access 30% government and private sector spending in the pharmaceutical market and almost none from the donor communities. In addition local companies exported $59.4 million (2010) to other East Africa countries. Efforts to increase revenue in the local market and through pharmaceutical exports are hampered by lack of adequate infrastructure.

UBRICA performed a gap analysis in the Kenyan pharmaceutical arena and recognized an unmet need in pharmaceutical research and development. Kenya lacks a vibrant biomedical research and development sector within the country. A vibrant Research and development sector in both public and private sectors can boost innovation and industrial development. Kenya has the largest number of pharmaceutical manufacturing plants in East and Central Africa. The companies develop generic drugs and possess an unlimited capacity to grow the local market share as well as exports. However generic drug development is hampered by lack of a bioequivalence lab. Bioequivalence is a mandatory study required for registration of generic drugs in most countries.

Background of Bioequivalence

What is Bioequivalence? Bioequivalence is a term in pharmacokinetics used to assess the in vivo biological equivalence of two different (generic vs. brand) proprietary preparations of a drug. Two pharmaceutical products are bioequivalent if after administration of similar doses, their bioavailability (rate and extent of availability) are pharmaceutically equivalent. A finding of pharmaceutical equivalence presumes that the efficacy and safety outcomes of both drugs are equal.

All 48 industries in Kenya lack the capacity to perform bioequivalence studies within the country. To access bioequivalence services Kenyan companies outsource the services to foreign firms located in the USA, Brazil, Asia and Europe with only one bioequivalence lab located in South Africa. The cost of performing the bioequivalence studies is prohibitive and ranges from $30,000 to $100,000 with long turnaround times.

Local manufacturing companies also lack the capacity to achieve World Health Organization (WHO) mandated quality standards including ISO, good laboratory practice (GLP) as well as good manufacturing practice (GMP) standards required for producing quality, safe and effective medicines.

UBRICA proposes the following three objectives:

  • Establish a bioequivalence laboratory by January 2016
  • Establish generic drug manufacture by June 2016
  • Establish pharmaceutical drug development by June 2017

UBRICOIN FOR SOKO JANJA AND UNIVERSAL HEALTH

ubricoin for soko janja and universal health

Our goal is to bring blockchain technology into Lifescience and health services financing in Africa. We believe that blockchain technology will ensure access to universal health. Cryptocurrency, built on block chain will help us achieve financing global health, where paying both with fiat and cryptocurrencies will be possible. Block chain technologies will simplify Lifescience and health business processes. It will help create platforms for funding Lifescience research and development, generic drugs manufacturing and health services delivery. Ubricoin will work as the gateway to the biomedical world which includes Soko Janja, health services, science and technology parks and biomedical city.

SOKO JANJA

We have created an online retail store known as soko Janja [shop.ubricas.com] to help operationalize wealth creation by each individual in any given community. Enrolled members will participate in posting pictures of their produce, products and services to soko Janja online market place. People from all over the world can view and order posted produce products and services. A small fraction of revenues from items posted on soko Janja will be applied to a health fund. Ubrica will expand its capability to host future worthy Lifescience and health blockchain projects and spinoffs. By creating our coin as a payment gateway at the point of sale for the retailers we will introduce cryptocurrencies to a wider public. As a POS system Ubricoin will accept payments in fiat currency, electronic money, and third party mobile wallet solutions. Users will realize most benefit by using Ubricoin mobile wallet directly. These direct transactions do not incur any fees, and every purchase is also rewarded within our loyalty program.

 

Blockchain for commercialization

 Blockchain for commercialization

Our goal is to bring blockchain technology into Lifescience and health services financing in Africa. We believe that blockchain technology will ensure access to universal health. Cryptocurrency, built on block chain will help us achieve financing global health, where paying both with fiat and cryptocurrencies will be possible. Block chain technologies will simplify Lifescience and health business processes. It will help create platforms for funding Lifescience research and development, generic drugs manufacturing and health services delivery. Ubricoin will work as the gateway to the biomedical world which includes Soko Janja, health services, science and technology parks and biomedical city.  Ubrica will expand its capability to host future worthy Lifescience and health blockchain projects and spinoffs. By creating our coin as a payment gateway at the point of sale for the retailers we will introduce cryptocurrencies to a wider public. As a POS system Ubricoin will accept payments in fiat currency, electronic money, and third party mobile wallet solutions. Users will realize most benefit by using Ubricoin mobile wallet directly. These direct transactions do not incur any fees, and every purchase is also rewarded within our loyalty program.