Značka: Healthcare

Blockchain’s use in healthcare ‘essential' to protect sensitive data: Zelis CTO

Kali Durgampudi, the CTO of healthcare payments company Zelis, believes that the implementation of blockchain tech is vital for protecting patients’ sensitive data from cybercriminals.Speaking with Health IT News on July 20, Durgampudi noted that some of the biggest issues in healthcare are privacy and data security as the industry works to digitize its “archaic paper-based processes.”“Blockchain technology has the potential to alleviate many of these concerns,” he said, as he highlighted the importance of utilizing a digital ledger that is “impenetrable” to protect sensitive patient and financial data amid the growing rate of cyberattacks across the globe. “Since the information cannot be modified or copied, blockchain technology vastly reduces security risks, giving hospital and healthcare IT organizations a much stronger line of defense against cybercriminals.”Durgampudi went on to note that blockchain tech can also play a key role in healthcare payments, as it can help provide greater transparency and efficiency over current payment models in healthcare. He said the many payers and providers were hesitant to share information via email as emails could go awry and there was no proof of delivery. “Blockchain provides both payers and providers with complete visibility into the entire lifecycle of a claim, from the patient registering at the front desk to disputing a cost to sending an explanation of benefits,” he added. Real world useOne of the major companies that has worked on blockchain-based healthcare solutions is multinational tech giant IBM.The blockchain arm of the company has rolled out several solutions for healthcare such as health credential verification, the ‘Trust Your Supplier’ service to find verified suppliers, and ‘Blockchain Transparent Supply’, which provides supply chain tracking on temperature-controlled pharmaceuticals. In March 2021, Cointelegraph reported that IBM was working on a trial of a COVID-19 vaccination passport dubbed the “Excelsior Pass” in partnership with former New York Governor Andrew Cuomo. The passport was designed to be able to verify an individual’s vaccination or test results by IBM’s blockchain. Related: Blockchain without crypto: Adoption of decentralized techAnother key player in the blockchain-based healthcare space is enterprise blockchain VeChain. In June last year the project teamed up with Shanghai’s Renji Hospital to launch a blockchain-based In-Vitro fertilization (IVF) service application.VeChain also partnered with The Republic of San Marino in July 2021 to launch an NFT-based vaccination passport that was said to be verifiable worldwide by scanning QR codes tied to the certificate. David Jia, who is a blockchain investor and has a Ph.D. in Neuroscience from Oxford University, echoed similar sentiments to Durgampudi this week. In a July 21 blog post on Medium, Jia emphasized that blockchain tech could significantly improve drug traceability and verification, along with the data management of clinical trials, patient info and claiming/billing. “Accuracy in medical records over the long term as well as accessibility is essential, as it is necessary for an individual’s record to be able to be transferred between providers, insurance companies, and specialists with relative ease. If medical records are stored on a blockchain, they may be updated safely in almost real-time,” he wrote.

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MSP Recovery joins forces with Tokenology to release tokenized healthcare initiative

MSP Recovery LLC, a healthcare recovery firm based in Miami, United States and valued in the region of $32.6 billion, has announced a collaborative partnership with Web3 solution Tokenology to launch a fraud-prevention blockchain platform, titled Lifechain.Lifechain will seek to utilize the verifiable and transparent nature of blockchain technology to enhance the accessibility of healthcare charges, claims and medical records for patients and industry professionals.MSP Recovery’s consumer application LifeWallet — which launched in January this year and has since registered over 1 million users, according to recent data — will house the technology alongside a tokenized solution LifeCoin.The press release provided greater context into the scale of the task within the healthcare industry; notably, working in the field of reimbursing secondary medical insurance payments.“The massive number of daily medical claims being tokenized is expected to surpass 50 million/day by 2024, requiring the kind of scale, security and sustainability that only Polygon can deliver.” @DiscoverMSP, a $32.6 billion publicly-traded U.S. healthcare company, has partnered with @Tokenologycom to launch LifeChain #onPolygon.A first-of-its-kind commercial platform for fully tokenizing healthcare services.Learn more https://t.co/kEaYUQltnN— Polygon – MATIC (@0xPolygon) May 20, 2022MSP Recovery became a publicly tradable company in mid-2021 following the acquisition of Lionheart Acquisition Corp II and operates on the Nasdaq under the ticker symbol MSPR.The co-founder of Polygon (MATIC), Sandeep Nailwa, shared his assessment of the partnership, stating that the project is “truly impactful” and “a testament to the evolution of enterprising new solutions that developers like Tokenology are building using Polygon technology.” 

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Singapore firm uses blockchain to battle counterfeit COVID-19 jabs

Singaporean healthcare services provider Zuellig Pharma is using a blockchain-based network to track COVID-19 vaccinations to prevent practitioners from administering expired vaccines. Zuellig Pharma says that its new “eZTracker” management system can help prevent improperly stored or counterfeit vaccines from being used by allowing its clients to instantly verify the provenance and authenticity of their vaccines via a mobile app. “Accidents involving expired or improperly stored vaccines can be avoided,” said Daniel Laverick, vice-president and head of digital and data solutions at Zuellig Pharma.eZTracker uses the SAP blockchain to capture, track and trace multiple data points to improve supply chain transparency. The eZTracker website explains how it works:“Simply scan the QR code on the packaging to instantly verify if your product comes from an authorized distributor.”“Patients can scan the 2D data matrix on the product packaging to verify key product information like expiry date, temperature, and provenance through its app powered by blockchain,” added Laverick. The SAP Blockchain executes operations as a Blockchain-as-a-Service (BaaS), allowing its clients to develop customized blockchain extensions for their existing applications. According to SAP, 77% of the world’s transaction revenue touches one of their systems. Back in 2020, Zuellig partnered with pharmaceutical company MSD to deploy eQTrakcer in Hong Kong, where it was used to trace vaccines for Human Papilloma Virus, Gardasil.”As the vaccines move through various handover points in the supply chain, the products’ data points are loaded into eZTracker’s secure blockchain ledger, and this ensures it can’t be tampered with,” Laverick explained at the time. “Users such as healthcare professionals and patients are able to verify the authenticity of the vaccine by scanning a unique data matrix code on the product pack.” Related: Fake vax certificates renew calls for blockchain-based solution in AustraliaFounded 100 years ago, Zuellig is one of Asia’s largest healthcare service provider groups. Zuellig also has a product called eZVax, which specifically provides governments, local health authorities, and the private sector with end-to-end vaccine management. Southeast Asia is a hotbed of fake meds with between $520 million and $2.6 billion spent on counterfeit medicines every year, according to a report by the United Nations Office on Drugs and Crime.

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Bitcoin-based tracking platform Eggschain partners with Boston IVF

The Bitcoin-based genetic data tracking system Eggschain has announced a partnership with the Boston IVF chain of 30 fertility clinics in the United States.The new partnership will use blockchain technology provided by Eggschain to aid in the tracking of cryogenic preserved sperm to be used in IVF and other fertility and non-fertility treatment, as well as long-term storage of genetic data. A spokesperson for Eggschain said:“Using the blockchain to track biospecimens such as sperm and eggs empowers individuals facing reproductive issues. This pivotal partnership enables greater confidence through the transparency and immutability of the data.”Founded in 1986, Boston IVF is a chain of fertility clinics that specialize in IVF, genetic data storage and endocrinology. The clinics have reportedly helped over 100,000 babies be delivered so far. The chain has also graduated more than 30 reproductive endocrinologists through its accredited REI Fellowship Program. Boston IVF CEO David L. Stern said he hopes that integrating blockchain technology to the company’s operations will improve the customer experience “with an unparalleled level of transparency and security.”Austin-based Eggschain is a healthcare technology company building a supply chain solution for the fertility industry using blockchain built on Bitcoin layer-two Stacks. It operates a custody management system for genome, stem cells, DNA, RNA, organs, tissues, blood and IVF-related security. It supposedly reduce time in the sperm selection process across global jurisdictions by registering data on its platform, protect high-level patient data, prevent misfiling data and increase the transparency of overall operations.Related: Make a wish: New Year’s resolutions from crypto industry insidersBy partnering with Boston IVF, Eggschain is entering the $21.89 billion global IVF market that is forecast to reach nearly $34 billion by 2028 according to a report by Grand View Research.The healthcare industry has enjoyed several benefits from blockchain technology, such as from CURE Chain and Aimedis which utilize nonfungible tokens to help patients store data and even offer crypto rewards for adding to their profile.

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Make a wish: New Year's resolutions from crypto industry insiders

As the new year rapidly approaches, people are thinking about what they can do to make 2022 even better than 2021. With so much anticipation for cryptocurrency in the coming year from government policymakers and market action, it’s no wonder that some in the crypto industry have ambitious resolutions for the new year with how they will help to shape the industry for the better.National governments have taken steps to increase the global adoption of blockchain technology right up to the end of 2021. Late in the year, governments from Australia, Kazakhstan, Brazil and the Eastern Caribbean launched, or made public, their plans regarding central bank digital currencies (CBDCs). The United States Senate heard testimonies from crypto company executives in December, and Thailand’s government vowed to issue a regulatory framework for crypto by 2022.As for the bull market, nobody truly knows what will happen. Some analysts believe that the four-year market cycle has been broken, indicating that the bull run will continue well into 2022. However, bearish signals persist despite the strength of Ether (ETH) and altcoins, making a stronger case for the argument that this time around, things are different.Several industry participants shared their thoughts with Cointelegraph regarding their New Year’s resolutions. They range from education and inspiration to healthcare concerns. They even floated ideas of a global metaverse GDP.Bobby Ong, CoinGeckoBobby Ong, co-founder of CoinGecko, also shared his resolutions for the new year. As with others in the industry, Ong feels that education is one of the keys to crypto adoption. He told Cointelegraph that his greatest ambition is to see the industry use education to help users keep their digital assets safe.His concerns regarding user security have genuine merit considering that so far in December 2021, there have been over $149 million in losses due to security breaches at Grim Finance, Badger DAO, MonoX, Visor Finance and AscendEX. At the time of publishing, there is still about a week left in the month for other breaches to be revealed. Ong said:“I hope to see more people educating themselves on crypto security in 2022. Too many new users have lost cryptocurrencies and NFTs due to bad security practices and I hope more projects and companies will educate their users on best practices.”He went on about how he believes that crypto users — both new and experienced — need access to as much information and education as they can get: “Our motivation in doing this is to help users make sense of the crypto world and we hold the view that anything that can be tokenized will be tokenized.”Yat Siu, Animoca BrandsAnimoca co-founder and chairman Yat Siu voiced his aim to see the metaverse niche mature in 2022. His lofty goals for the new year include bringing metaverses onto a global scale of recognition which could have evolutionary implications for the nonfungible token, or NFT, market as well.It may be safe to say that the Metaverse have come closer to mainstream adoption than they ever had before thanks, in no small part, to Mark Zuckerberg and Meta. Siu and Animoca, one of the biggest investment firms in the NFT and metaverse space, are counting on the continued expansion of those markets.Animoca had a fantastic 2021, especially in the last few months of the year when the firm increased its treasury value five-fold from $2.9 billion in September to $15.9 billion by the end of November. As the latest winner of Deloitte Hong Kong’s Fast Technology award, Animoca may have the momentum needed to continue its success in 2022. Siu said his New Year’s resolution was:“To help in constructing an open metaverse with such a significant GDP that closed metaverses are forced open in much the same way that free trade opened up the global economy. Where we are no longer digitally defined as ‘users’ but as metaverse citizens with true digital ownership.”Pradeep Goel, Solve.CareNext, Solve.Care blockchain-based healthcare platform CEO Pradeep Goel shared his thoughts on what can be done to improve the crypto space in 2022. The telehealth field, which Solve.Care has one foot in, saw a 63-fold increase in utilization through 2021, according to the United States Department of Health and Human Services.Especially for geriatric patients and those with low mobility who cannot easily make regular doctor visits, the utility of telehealth services was fleshed out over the past 20 months through the COVID-19 pandemic. Solve’s position as a crypto-telehealth leader aided in the launch of its Global Telehealth Exchange and various other services, which Goel hopes will help users obtain the health services they need. Goel told Cointelegraph:“It is my wish that in 2022, we will see greater utility and adoption of cryptocurrencies, especially for the healthcare sector. Not only can they be used as a payment currency, but they can be programmed to streamline and facilitate seamless interactions between stakeholders like patients, healthcare providers, government agencies and insurance companies.”Jen Buakew, To The Moon LabJen Buakaew, founder of growth accelerator To the Moon Lab, hopes that 2022 will make the crypto space more accessible for laypeople who want to explore its possibilities. In her experience at crypto conferences, many people become befuddled by the NFTs that sell for millions of dollars and the technical jargon tossed around by industry experts. She said, “These things usually mean nothing to people besides making them feel that crypto success is unattainable.”In her view, people interested in joining the industry as traders, entrepreneurs, or professionals don’t have an adequate support system in place to help them reach their goals should they choose to join the industry. That lack of support is what she thinks keeps some individuals from contributing their valuable input in the first place. Buakaew said:“My New Year’s resolution is to inspire as many people as I can to get themselves into crypto by showing them the simplest ways where they can benefit from being part of the decentralized economy. I would like to change this narrative or the mindsets of the ordinary people, especially those in the less fortunate demographics to ‘if Jen can do it, well then so can we.’”

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