Blockchain technology remains a very promising tool to power solutions for several fields: banking and economics, cargo shipping, cryptocurrencies, smart cities concept, education and universities, and many more. One of the applications of the approach remains utterly important for the future of humanity: medicine.
As it turns out, technology can be of great help in developing an efficient medical imaging process and ecosystem, as Bitfury, one of the planet’s most prominent blockchain-related firms, will establish a partnership with radiology blockchain organization MDW (Medical Diagnostic Web) to achieve that goal.
A Pact of Three
The information was made public by the Bitfury group via a blog post on Monday, February 11th. The terms of the alliance establish that the two prominent companies, together with blockchain-powered life data proposition Longenesis, will work to create a platform that can keep, share, and secure medical imaging and diagnostics data like CT scans and X-rays.
Exonum will host the proposed ecosystem. Exonum is Bitfury’s private blockchain scheme, one that happens to use what is known as “anchoring” technology with the intention of enabling transactions to be validated.
Longenesis will also offer its services to achieve the final objective. The company will allegedly make sure that the medical data developed by the ecosystem and recorded on the blockchain is only accessed by authorized parties, eliminating potential threats to the privacy of the generated information.
Also of importance will be Longenesis’ role in guaranteeing the system’s full compliance with the appropriate legal frameworks, including the Health Insurance Portability and Accountability Act (HIPAA) and General Data Protection Regulation (GDPR.) According to Valery Vavilov, currently the CEO of Bitfury, the tool looks extremely promising and has raised the bar when it comes to the deployment of the blockchain technology in the medical industry.
“Blockchain technology can strengthen patient data security by providing a tamper-proof record of patient history whilst simultaneously providing an avenue for doctors to more easily share information. The digitization of trust that blockchain offers, paired with the medical potential of AI algorithms, has the ability to revitalize medical systems all over the world,” were Valery Vavilov’s [words.
Other Known and Recent Cases
Medical research and development organization Pistoia Alliance included several elements to its blockchain project earlier in the month. Among them were data sharing, data identity, and data integrity. The institution used the technology in order to validate sources in identifying data and to make sure the data is legitimate. Pistoia also took on the mission of educating the medical sector on blockchain-related affairs.
In the same vein, back in January, another company, in this case, the American insurance firm Aetna, established a partnership with IBM to develop a blockchain network that fulfilled the requirements of the whole healthcare sector. It works by streamlining insurance claims processing and payments.
Bitfury is a diversified blockchain firm that was founded in 2011. It manufactures hardware and develops software, providing security and a proper infrastructure for the Bitcoin blockchain. It reported revenue of $500 million last year.
MDW, on the other hand, is a radiology blockchain platform that lets professionals in the area share data and images from patients, as well as establishing contact with imaging centers and facilities.
By Andres Chavez
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