Interview with Everardo J. Barojas: Innovation in Healthcare and Blockchain Technology
Everardo Barojas, a visionary entrepreneur and technologist, is the CEO and co-founder of Prescrypto. This company is transforming healthcare by leveraging blockchain technology to streamline and secure medical prescriptions. With a background in engineering and a deep passion for the intersection of technology and healthcare, Everardo has dedicated his career to solving complex challenges in Latin America’s healthcare system. His leadership at Prescrypto has brought transparency, efficiency, and security to medical records, ensuring that doctors, patients, and pharmacies have a seamless, trust-based experience. Everardo’s innovative approach to digital health solutions has garnered attention globally, positioning him as a forward-thinking leader in the blockchain and healthcare industries.
Interview with Everardo J. Barojas: Innovation in Healthcare and Blockchain Technology
Al Leong: Hi Everardo, it’s been a long time since we worked together. I’d love to catch up and learn about your latest project. But first, let’s dive into your background for the audience. Can you tell us where you’re from, your education, and your journey?
Everardo J. Barojas: Sure, I’m from Mexico City. I was born in the south of the city, studied at a British high school, and then went to UNAM, the public Mexican university. I studied Mechatronics Engineering, which is about interacting with moving parts using computers. I also briefly studied professional photography and used to work on old cars during high school, which was a hobby of mine. Afterward, I stayed at UNAM for my Master’s in Astronomical Instrumentation and did a PhD in Business and Finance. I also briefly pursued another PhD in Germany, where I was building a capillary rheometer to measure Mexico’s heavy crude oil at high temperatures, high pressures, and high shear speed.
Al Leong: Mechatronics sounds fascinating! Is it like building robots?
Everardo J. Barojas: Yes, exactly. Anything with computers interacting with physically moving parts falls into mechatronics. It was fun and still is! I occasionally tinker with it in my free time.
Al Leong: So, for the last several years, you’ve been with Prescrypto. How did you get into that business, and what drove you to start it?
Everardo J. Barojas: Before my PhD, as I mentioned, I was in Germany, working on mechanical designs and measuring oil viscosity. But I felt unfulfilled. Oil is a dirty business — literally and figuratively — and I didn’t feel like I was contributing to the future. Around that time, a friend who had co-founded the first Bitcoin exchange in Mexico, Coincove (later called Volabit), invited me to join his company. I was the fourth or fifth hire, and it was an exciting time to be working with Bitcoin in 2014. However, by 2016, Bitcoin was going through a rough cycle, and the company faced many challenges. So, I left and decided to start my own business. I come from a family of doctors — my father, mother, and sister are all ophthalmologists — so I decided to mix my knowledge of blockchain and healthcare to create Prescrypto.
Al Leong: That’s a great blend of fields. How did you fund the startup?
Everardo J. Barojas: Interestingly, I funded the first stage by selling my 1972 Dodge Charger! Raising seed money wasn’t as difficult as the next rounds. I was lucky to meet the right people at the right time during my previous roles. Within three months, we rolled out our first product, secured our first customer, and raised seed funding.
Al Leong: Impressive. What exactly does Prescrypto do?
Everardo J. Barojas: Prescrypto creates electronic prescriptions for doctors and patients, but our business model involves selling digital advertising to pharmaceutical companies. Unlike the U.S., pharmaceutical companies can’t advertise directly to patients in Mexico. Instead, they need to reach doctors, and our platform guarantees that their ads are only shown to certified doctors. Currently, about 13% of doctors in Mexico use our platform.
Al Leong: That’s a unique business model! With regulations in place, are there any ethical or compliance challenges?
Everardo J. Barojas: Absolutely. We never disclose the identities of doctors or patients; everything is anonymized and aggregated. We follow strict regulations, not only from Mexican authorities but also the U.S. FDA and SEC due to our partnerships with global pharmaceutical companies. Compliance is a big part of our business, and we have to adhere to various international regulations, even if we aren’t directly operating in the U.S.
Al Leong: Is Prescrypto looking to expand beyond Mexico? How do you plan to scale globally?
Everardo J. Barojas: Yes, global expansion is part of the plan, but we’ll only move forward once we’re confident in scaling our business model. We’ve been bootstrapped for much of our journey, so growth has been slower than if we had raised a big funding round. But we’re already HIPAA-compliant, so entering the U.S. market is feasible. However, raising capital in health tech is much more complicated compared to fintech or e-commerce. In health, the money flow is often indirect, and venture capitalists, who are typically well-versed in finance, find health tech investments harder to grasp.
Al Leong: That makes sense. Are you open to partnerships? What kind of partners would be ideal?
Everardo J. Barojas: We’re always open to partnerships! Any collaboration that helps us reach more doctors and patients would be interesting to us.
Al Leong: That’s good to know. Now let’s talk about blockchain. How does Prescrypto use blockchain technology?
Everardo J. Barojas: When we started, we used the Bitcoin blockchain for proof of existence. This allowed anyone to verify that a specific prescription existed without revealing its contents. Later, we moved to Ethereum, but it became expensive and slow. We’ve since developed an internal blockchain-based system called RexChain, which stores prescription data and validates their existence while complying with Mexican regulations. We also use Merkle trees to validate the data, allowing us to store data efficiently and securely.
Al Leong: If your blockchain protocol fails, do you have a backup plan?
Everardo J. Barojas: Yes, we have an internal copy of all the data and traditional fail-safes to recover information. If everything fails, we can still reconstruct a prescription’s original hash using the printed version.
Al Leong: And what about artificial intelligence? How are you leveraging AI?
Everardo J. Barojas: AI has been transformational for us. We use it to scan and digitize handwritten prescriptions, which helps us serve patients by providing medication information and suggesting alternatives. For instance, this AI tool allows us to inform patients where they can buy their medication or if there’s a cheaper alternative available. We’ve also integrated with pharmacies, allowing digital prescriptions to be sent directly to them. Not every pharmacy is integrated yet, but many are.
Al Leong: That’s impressive! How else do you use AI?
Everardo J. Barojas: We use AI to provide patients with high-level information about the medications prescribed to them — such as what the drug does and potential side effects. It’s a simple feature, but patients use it frequently, even more than the ‘buy now’ button. AI also helps doctors by analyzing prescriptions for potential drug interactions and allergies, which is critical in healthcare.
Al Leong: Do you integrate with labs as well for blood work or testing?
Everardo J. Barojas: Yes, we do! Traditionally, prescriptions in Mexico didn’t include lab tests, but with digital prescriptions, we can easily integrate these services. This allows patients to get their lab tests done at a convenient location without being locked into a specific lab.
Al Leong: Everardo, thank you for sharing your insights on how Prescrypto is revolutionizing healthcare through blockchain. Your vision for a more transparent and secure medical system is truly inspiring. Is there anything else you’d like to add before we wrap up?
Everardo Barojas: Just that the journey to improving healthcare is a collective one. We’re always looking for partners and innovators who share our passion for making healthcare more accessible and efficient. Together, we can continue to build solutions that benefit patients and providers alike.
Al Leong: It’s been a pleasure, Everardo. Thank you for your time and for the impactful work you’re doing at Prescrypto.
To reach Everardo, please visit: https://www.linkedin.com/in/everardo-barojas/
