Two weeks in, progress is highly visible in some areas, more subtle and behind the scenes in others. 

The core White Paper is finished and will be published this week. Most remaining changes are formalities, like slight refinements or rewording. Some are more profound: We added a few more details to several technical areas, reflecting additional research in the areas of biometric identification and data compression.

Probably most significant is that we added more details about a governance model. It will set us on track for the medium and long-term management of the Healid project, and provide a means for purchasers of HealCoin to become “members” of the Foundation. This will let them participate in decision-making and thus establish more transparency and a clear and consistent process. 

Key aspects of such governance should be encoded into a smart contract that will be valid from the point of issuing the Genesis Block. The result is a Distributed Autonomous Foundation (DAF) residing on the Blockchain, with ownership or pooling of HealCoin being the key criterion to get a membership vote in the Foundation. 

We consider this essential especially for a utility token like HealCoin, where we cannot afford hard forks although we still need to be able to make key decisions during the next months. In line with our principles, our governance approach aims to facilitate inclusiveness and diversity. 

We are formally starting our POC this week. Most of the work will be in three areas: (1) iOS, (2) Wallet and Ethereum Smart Contract, and (3) Data storage (IPFS). Dominic Valencia will lead the programming part of this effort. 

The web page will get an overhaul this week, mostly by adding a section about the HealCoin portion of the project. 

Last week I was in San Francisco at the CoinAlts Fund Symposium. I had two important take-aways: First, this is where I got the notion of being more clear about our governance approach. Olaf Carlsson-Wee’s comments made quite an impact in that regard. Second, the symposium confirmed our decision to issue the HealCoin in the U.S. Sooner or later we will encounter U.S. investors, and ideally sooner. At the latest at that point we will need to confront the regulatory framework in the United States, particularly the SEC, IRS and CFTC. So why not do it right away here. 

Last but not least: Our core team keeps growing. Healid has two new advisors on board. Werner Huck is a microbiologist with over 30 years of experience in the field. His focus will be to advise us in matters of health care in general and genomics more specifically. James Wong has experience with corporate strategy and development, recently on a couple of complex health care projects.