ICON (ICX)
Is ICON to Big to Fail? Some believe that wanting to connect everything is too much for one company to handle. This is a concern that is justifiable. In some ways what Icon is trying to accomplish can be considered a huge endeavor.
So is ICON’s idea to big.
Investing in any company that is taking on too much is risky.
Take for example MCIWorldCom. At the height of being one of the best and biggest phone companies in the United States it quickly fizzled out. Some millennials probably in this age most likely do not remember the behomoth. So AT&T took center stage up until cellular phones came to join the war on communications.
Is ICON going to live up to its hype? It really depends on acceptance of the blockchain technology. If major hubs of communication like governments, universities, and hospitals were to not invest in the idea then ICON will not perform well.
ICON should start small.
Icon is becoming in a sense a connection expert. And it is believed that if it can focus on smaller communities then work to connecting larger ones. It will be a good crypto to watch.
A good example of companies that start small are cable or electric companies who have to run lines to houses. They work up to connecting an entire neighborhood one resident at a time. Eventually they will meet the needs of entire towns then entire cities. And may find the opportunity to connect cities together. If imaginable this will equate to states, countries, then globally.
Is global connection even possible? Would countries really want to connect?
Do to nationalism it may not be possible for ICON to connect the world. This is due to increased security risks for other countries. But ICON may end up selling the technology to other countries in order for each country to re-adapt the blockchain to fit their needs. If each country makes their own type of ICON blockchain or own communities which Icon suggests. Then it is foreseable that in the future ICON will be able to make connections between countries.
Globalization takes the cake. It would benefit ICON tremendously if countries increasingly moved toward globalization.
ICON could surprise us all through an ever globalizing world. The less nationalism and more globalism could make ICON a very valuable commodity.
In the grand scheme of things ICON will be a necessity. Without icon’s blockchain we will require middle men. And the middlemen will be as taxing as exchanging Euros for US dollars. Just look at all the fees it is currently costing to move bitcoins and ethers onto and off the exchanges or changing from one alternative currency to another.
If you look at the current system it has become cost prohibitive to move information. The icon blockchain could be what is needed to make the change. Charging for information to be sent at high fees every time information is moved from one place to another is not logical and will make it more likely for corporations to make the shift.
That middleman is slowing us down and he taking all the profits.
ICON is removing that pesky middle man. In doing so will be saving billions if not trillions.
Now if you have ever tried to get to go to the doctor and have your medical records sent to another provider. That takes enormous amounts of time and frustration for staff and individuals seeking treatment. Sometimes a provider can not even treat a patient until all records have been reviewed. This in fact is problematic to both the facility and the patient who now has to come back for a follow up visit.
Also, the insurance will have to be verified that you are who you say you are. It has to be confirmed that the plan covers a specified form of treatment. Then the provider if he decides to treat, sometimes must wait months for reimbursement, putting a financial strain on the clinic.
If the clinic is stressed out over verifying and collecting data, do you believe there focus can be on you as the patient?
Imagine ICON connecting hospitals.
It will connect all of these information blockchains together in one seamless operation. The provider could request instantly your medical record from another facility. The patient will have a walking documentation of their forever updatable medical record. They could even keep their medical record on hand. Providers could just pull from the data all surgeries, accidents, family history, and allergies. In a life threatening situation this could be very useful and speed up how fast patients are seen. Decreasing waisted expenses on clerical duties while providing quicker more optimal care to patients.
Imagine the provider receives your personal data with your already updated info without you having to re-update your demographics and insurance. And artificial intelligence automatically verifies your insurance instead of having staff take extravagant amounts of time through internet or phone to do it. Then staff no longer is chasing down a folder of records or having to fax medical releases. Again clinics could then place more valuable resources on caring for and spending more time with the patients.
Following treatment reimbursement will be verified and within days a check will be sent.
An integrated banking service theoretically once verified could send payment to the providers account quickly and efficiently. Connected directly to the insurance company.
Provider is happy, insurance is happy, banks are happy because their clients are happy. Everyone wins.
In a world where everything is connected it’s a better world.
ICON is the start to the process. It may not be the only one used in each country but if it’s secure enough and tamper proof it could be.