3/7 kucoin ×CareCoin AMA

6 min readMar 20, 2023

Content of the Japanese AMA held on 3/7 21:00～(JST）will be delivered in English

About CareCoin

CareCoin is a utility token in an ecosystem that properly uses medical and health data and decentralizes health information on the blockchain.The CARE project is a platform where people can manage and effectively use all human-related data, which includes medical data, and receive diverse services for a better life.The CARE Project allows users to manage their personal information using Soulbound Tokens (SBTs), which are non-transferable to others.We will start with a service which allows individuals to manage their medical information, mainly medical consultation and examination information. We aim to make effective use of our service in a decentralized society (DeSoc) where individuals control their various information.

AMA Overview

Time:21:00,March 7,2023（JST）

Host: KuCoin JP Ambassador

Guest

・Yamanouchi, Founder & CEO of Well Medical Partners

・Bitmo, KuCoin JP Collab-analyst

Location: KuCoin Japanese Telegram Group

Agenda

Introduction of speaker and CARE
Questions from Bitmo
Questions from KuCoin Japan community

Summary of the contents of the AMA main body

The contents of the AMA main body will be described in a Q&A format.

Q1 What is CARE’s project?

Please give us a brief overview. Where is CARE’s project located?
CARE’s project promotes self-management of personal information and aims to spread a decentralized society. Starting with the management of medical data, we aim to realize a safe and comfortable society in which all personal information is properly managed by the individual.

Q2 What are the main partners of Care?
・The Clinic 9ru（https://9ru.tokyo/en/）
・The Prevention Clinic Tokyo（https://preventionclinic.tokyo/en.html）
・AI Clinic Ginza（https://aimcl.jp/）
We are also actively pursuing partnerships with other clinics overseas.

Q3 I understand that you are planning to use NFTs and proprietary token payments for medical data management, but what specific use cases do you have in mind?

Medical care will use SBT to manage data, and we are also working to link with crypto payment services. We are working on partnerships as the project progresses so that more services can use CARE payments. In the future, we will also be able to use CareCoin to make various donations.

Q4 I know that SBT (NFT that cannot be transferred/transferred from a wallet) is a feature, but is it feasible with current blockchain technology to democratize the data that individuals manage on their own?

Technically, there is no problem. However, managing medical data by individuals is a challenge that will change the structure of existing medical services, the electronic medical record industry, and the medical industry itself. We will take up this challenge and promote the democratization of data by allowing individuals to manage their own personal information, with the aim of realizing a decentralized society.

Q5 Are you affiliated with the Peninsula Hotel?
We are not affiliated with the Peninsula Hotel.
We are affiliated with 5Stars Medical Club, which operates a clinic in the Peninsula Hotel.

Questions from KuCoin Japan community (TBD)

Q6 Please give us an overview of tokenomics and the utility of tokens.

Users register their own data and receive a Should Bound Token (SBT) and a CareCoin at the time of initial registration. The SBT contains their medical information, which can be disclosed at medical facilities and other places as needed to record the results of medical examinations and health conditions.

As a utility, the SBT will evolve based on a composite of criteria such as the length of time you have held the SBT, the amount of information registered, the number of information disclosure history (how much you have used or been used), and the number of CareCoin you have and how long you have held the SBT, which will allow you to receive various clinic benefits in the future, limited items, discount coupons, and event invitations.

Q7 I think the CARE project, which aims for a decentralized society where the minimum necessary information can be shared, is a very good idea, but the hierarchical relationship between hospitals and regional disparities in Japan may make it difficult to introduce this project.

Certainly there are high hurdles in the medical industry, and it may be a struggle against vested interests. We are entering the medical field first, starting with the fields of cosmetology and physical checkups. We plan to expand little by little by gaining a foothold in relatively open fields.

We will also be able to promote a sense of scale by democratizing various data around us without limiting ourselves to the medical field.

Q8 On your website you mention two clinics as strengths of the project. Can you tell us more about these?

We believe that the fact that the clinics actually exist in the Peninsula Hotel Tokyo, a five-star hotel, will help us gain trust, as many projects have no actual existence.

In addition, each clinic has the latest medical equipment, including iPS cell banking and a new CT with next-generation workflow on an AI development platform. We will continue to introduce equipment and facilities with an awareness of making the latest technologies more accessible, as well as AI-based technologies to improve efficiency and minimize medical errors.

Q9 Many are now looking at NFT, the metaverse, and gaming. What are your future strengths in these areas?

Our strength is that we have networks with companies in various fields. Therefore, we will use this network to spread awareness of our projects by implementing NFT projects using our IP.

Q10 Can you describe your partnerships and collaborations with other organizations in the Care project?

We are currently partnering with 5stars Medical Club to manage data at their clinic and plan to collaborate with various companies and IPs through the clinic.In the future, we plan to partner with the travel industry to attract inbound customers, with companies developing AI platforms, and with companies operating gyms and exercise apps.

Questions from KuCoin Japan community

Q11 Where can I purchase $CARE now? What is your current contract and how do I purchase?Where can I get the latest news? Is there a Twitter/Telegram/Discord community?If yes, can you share the link here as there are many fake telegram/Twitter groups?

You can buy it at KuCoin! I will send you the links for Twitter/Telegram/Discord later.
We are just getting started on the Discord, but we’d love for you to join!

Twitter:https://twitter.com/carecoinfo

Telegram:https://t.me/care_official

Discord:https://discord.gg/

Q12 Ambassadors play a very important role in all projects.
Do you have an ambassador program? If yes, how do I become one?

We don’t have one at the moment, but I think an ambassador program is a great idea!We’ll be looking into it in the future, hoping that CARE can offer the right ambassador program at the right time!

Q13 Would be great if you could tell us where the name CARE came from!

Mainly because CARE is a project about healthcare! It’s simple, but I think most of you are already aware of that.The other reason is that it’s meant to motivate people to care more about themselves! The world is going through a pandemic, overwork, etc.Stressful things happen. We want people to take very good care of their physical and mental health under any circumstances.

Q14 Do you plan to burn $CARE? How does it work and what benefits does it provide to users?

We plan to burn CareCoin on a regular basis.
To increase the value of the tokens, we plan to allocate a portion of the profits from the sale of the tokens to the token burn.

Q15 Will Care consider community input and suggestions in the development of the project?

I can’t do it as it stands right now, but I will be referring back to you in the future!I’d love to continue to have input, so please keep me posted with lots of suggestions!