Rethinking healthcare through decentralized science | bionic | Coins | January 2024

What would happen if diabetics collectively owned their insulin?

Jesse Hudson, Molecule

Imagine a world where patients collectively own the production and distribution of critical medicines.

Driven by the emergence of decentralized science and distributed technology, these kinds of developments will not only revolutionize the pricing and accessibility of drugs like insulin, but will also reshape the governance and distribution mechanisms of treatments that so many people around the world rely on. It may be possible. .

In essence, this model is about more than just medication management. It’s about redefining the relationship between patients and essential medicines and creating a healthcare environment that is equitable, responsive, and community-centered.

Frederick Banting, one of the co-discoverers of insulin, said in 1923, “Insulin is not mine, it is the world’s.” They sold all of their patents to the University of Toronto for $1 each.

Fast forward 100 years and we face a radically different situation in which the altruistic intentions of Frederick Banting and his colleagues are divorced from the realities of today’s insulin market.

Despite the vision to make insulin a globally accessible resource, the drug suffers from high prices and accessibility issues, often putting it out of reach for those who need it most.

This stark contrast calls for a reassessment of how essential medications like insulin will be administered and distributed in the future.

The emergence of DeSci sparked this thought experiment. As Jesse Hudson suggests in the quote above, what if the individuals most affected by this crisis – the diabetes community – could take back control of their own lifelines?

The current insulin landscape in the United States is having a serious impact on those who rely on this life-saving drug due to high prices and serious accessibility issues.

Problem 1: Rising insulin prices

Current issues: In the United States, the price of insulin has soared, making it unaffordable for many people, even those with insurance.

DeSci Solution: By leveraging blockchain technology, the DeSci approach can introduce a transparent pricing model. This allows for community-driven price setting, potentially stabilizing or reducing costs based on collective decision-making rather than corporate profit motives.

Problem 2: Insurance and high out-of-pocket costs

Current issues: The complexity of insurance creates unequal access and leaves some facing prohibitive costs.

DeSci Solution: A decentralized model could provide a more uniform access system regardless of insurance status or move products out of the insurance mechanism entirely. Community funds raised and managed via blockchain can help pay for those in need, ensuring equitable access for all.

Problem 3: Rationing poses health risks

Current issues: High costs lead to risky rationing practices among patients.

DeSci Solution: DeSci’s community governance can prioritize health outcomes over profits. By collectively managing insulin supplies, and perhaps even basic coverage supplies, communities can ensure adequate distribution to prevent rationing and associated health risks.

Problem 4: Complex manufacturing and supply chain issues

‍Current issues: Insulin’s sophisticated biotechnological production process (using recombinant DNA from yeast) contributes to high costs and complex supply chains.

DeSci Solution: The DeSci model can help you transition to more transparent and efficient supply chain management. Collective ownership can also foster innovation in production methods, potentially lowering costs and improving supply chain resilience.

Imagine a future where diabetics take charge of their own destiny through blockchain-based collective insulin ownership. The shift from centralized control to a patient-centric model promises to revolutionize healthcare, putting insulin management and governance directly in the hands of those who depend on insulin.

At the heart of this transformation is the decentralized architecture of blockchain, which democratizes the insulin supply chain. This model is not just about affordability and accessibility. This is a fundamental reexamination of pharmaceutical dynamics and prioritizing patient well-being over corporate profits. Through collective decision-making on pricing and distribution, the diabetes community can ensure equitable access and cost-effective solutions.

Governance through a decentralized autonomous organization (DAO) gives each community member a vote on important decisions, from setting insulin prices to selecting research projects. This involvement means that diabetes needs directly guide medication management.

Additionally, incorporating an advisory panel of medical experts ensures informed and balanced decisions. Driven by smart token-based incentives, these panels align expert insights with community priorities, combining real-world patient experiences and essential medical expertise.

This approach represents a power shift that transforms people with diabetes from passive consumers to active, empowered participants in their health care. This opens the door to community-funded research, paving the way for diabetes care innovations that truly empathize with patients’ needs.

As we reflect on insulin’s journey from a humanitarian gesture to a commodity entangled in complex market dynamics, we are asked to revisit Frederick Banting’s original vision of a world where insulin was for the people.

Of course, this raises a much broader question. How will widespread adoption of decentralized models in healthcare transform access to other essential medicines, treatments and services, breaking down barriers and fostering a more inclusive and equitable global health community?

Community-driven funding models and decision-making processes pioneered by initiatives like VitaDAO are the beginning of a paradigm shift in how essential medicines are developed and distributed.

Just as VitaDAO empowers communities to directly fund and influence longevity research and drug development, similar models can put diabetics and other patient communities in charge of insulin production and distribution.

This could mean not only more accessible and affordable treatments, but also broader research initiatives aimed directly at improving care, driven by those who have the greatest stake in its success: the patients themselves.

These models could be the key to a future where health care is more democratic, patient-centered, and responsive to the needs of those it serves.

Any thoughts? Tell us about X at @bionicdao_..

This blog was originally published at: bionicdao.com. To gain more insight into the world of DeSci, Extended Reality, Artificial Intelligence or Web3 Infrastructure Please visit our website & Sign up for our newsletter!