HMC will establish an ecological and application platform for mutual aid contracts and gradually improve mutual guarantee scenarios. Third-party organizations can also create their own mutual aid contracts in the contract ecosystem. 

Application Prospects

The global self-paid medical expenses are a market of ten trillions of yuan each year, and there are a large number of invisible negative treatment costs. The huge medical expenses caused by severe illness have always been a common concern for hundreds of millions of families around the world. At present, there are 20 million mutual aid users in China alone, of which "Easy Mutual Aid" with 8 million mutual aid users is HMS's first strategic partners and will provide HMS with a large number of cold start users. At the same time, HMS will continue to expand global mutual aid users through a built-in partner encouragement mechanism, absorb mutual aid communities, and aim to become the world's largest health mutual aid community.

Project Advantages

Have a globally leading mutual assistance model
HMS and Qingshu reached a strategic partnership. Qingshu’s Qingshu’s Qingshu has 8 million online mutual aid users, and the world’s leading mutual aid industry data model and user operation experience will lay a solid product foundation for HMS.

Integrate scattered mutual aid organizations to achieve win-win results in the entire industry
The number of mutual aid groups directly affects the ecological stability of the entire community. Therefore, it is difficult to form a long-term and stable economic model, and it is difficult to avoid vicious competition, whether it is foreign mutual insurance or domestic small mutual aid platforms. The illegal operation and suspension of operations of individual institutions have greatly affected the protection of mutual aid members. As a decentralized global mutual aid community, HMS is committed to integrating the current situation of the industry through its strong user base, data model and effective incentive mechanism to achieve win-win results for the industry and users.

Eliminate redundant operating costs
According to statistics, the insurance cost of 30 yuan is only 3 yuan. Among them, operations, channels, and capital flows have caused a lot of waste of costs. HMS blockchain smart contracts will be able to eliminate a large amount of unnecessary manpower, operational and accounting costs, automatically execute contract processes, and create the most economical health protection solution for users. With the transformation of blockchain in the entire industry, the unique identity information of users will be encrypted with hospitals, public security and other departments in the future, further reducing the cost of KYC verification and the cost of compensation verification.

Anti-inflation and global circulation capacity
Under the traditional mutual aid model, due to factors such as monetary inflation and shortage of medical resources, the later members receive compensation, the lower the actual value they obtain. Under the HMS system, the mutual aid qualifications and compensation standards among members will exist in the form of blockchain assets. Due to the inability to issue additional funds at will and the recognition of the global market, it can resist the impact of inflation to a large extent and support the virtuous cycle of mutual aid network. At the same time, HMC has global circulation characteristics. Global users or mutual aid organizations can easily join the network through the HMS mutual aid protocol and obtain global compensation. The blockchain-based clearing efficiency and dimensions are unimaginable to traditional financial systems. This feature will enable HMS to quickly integrate global mutual aid resources and form the largest mutual aid network.

Strong risk hedging capabilities
When HMS is established, a large number of risk funds will be reserved. At the same time, when users join HMS for the first time, they will divide some of the HMCs into the risk funds. The risk fund part is used to allocate other digital currencies (such as BTC, ETH, etc.) to hedge the possible deficiency in digital currency solvency in claims. In addition, HMS will continue to expand the scale of risk funds based on the increase in the number of users to maximize the protection of the rights and interests of community users.

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