> For the complete documentation index, see [llms.txt](https://ethereum-model-of-the-world.gitbook.io/ethereum.model.of.the.world/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ethereum-model-of-the-world.gitbook.io/ethereum.model.of.the.world/mission/defi-and-de-psi-decentralized-psychiatry.md).

# DeFi and De-Psi (Decentralized Psychiatry)

The innovations in Decentralized Finance (DeFi) are a result of [**Distributed Ledger Technology**](https://corporatefinanceinstitute.com/resources/knowledge/other/distributed-ledger-technology/) (DLT) breakthroughs. Whereas DeFi is built upon DLT, the foundation of Traditional Finance (TradFi) and every other sector is rooted in Centralized Ledgers. **Healthcare is no exception.** *E.g. this is why it is senselessly infuriating and cumbersome to transfer medical records from one healthcare system to another, unless they are connected via the same Electronic Medical Record database.*

Healthcare stands to undergo disruptive innovations (for the benefit of everyone) in similar ways to which the current legacy financial system is presently awakening to. 

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DeFi transformed information into money. Thanks to smart contracts on the Ethereum blockchain, data can also be converted into DeFi tokens that are tradeable in the DeFi free market.

***On the blockchain, data behaves like money.***
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#### Decentralized Psychiatry (De-Psi) will enable each participant in the network to generate valuable *data* which will be *monetized* in de-identified ways. This conversion has been enabled by initiatives like the Ocean Protocol. 

The value created will be distributed in accordance with positive-sum tokenomics which have already contributed to the success of various Decentralized Autonomous Organizations (DAOs) on the Ethereum blockchain and beyond.

#### Here is a comparison between De-Psi and Trad-Psi (data = biometric data):

| **Decentralized Psychiatry**                                                                        | **Traditional Psychiatry**                                                                              |
| --------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------- |
| You own and hold your data                                                                          | Your data is owned and held by third parties                                                            |
| You and your trusted providers *create* data together                                               | Data is collected from you                                                                              |
| You control how your data is used                                                                   | Healthcare systems and third parties like insurance companies decide how your data is used              |
| Data can be shared and transferred within seconds to minutes                                        | Data shares and transfers can take days to weeks                                                        |
| Data markets are open 24/7                                                                          | There are no data markets; instead your valuable data is isolated and siloed inside centralized ledgers |
| The new system is built on transparency - you can **verify** how your data is being used *on-chain* | Legacy systems are opaque and plagued with information asymmetry; you **cannot verify**                 |

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***Wouldn't it be great if you could make money for sleeping?***  Keep on reading to learn more about Data Collection and Data Markets to see how this can become a reality.
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