Bitfury’s New Partnership to Build Blockchain-Based Medical Imaging Platform

Bitfury is partnering with radiology blockchain marketplace Medical Diagnostic Web (MDW) to createa a blockchain-based medical imaging platform, as announced by the Bitfury Group in a blog post on Feb. 11.   Bitfury is a software manufacturer, providing security and infrastructure for the Bitcoin (BTC) blockchain. Bitfury has raised $500 million in revenue in 2018. MDW is a radiology blockchain platform which allows radiologists to connect with imaging facilities to share patient data and medical images.

The collaboration is between Bitfury, MDW and blockchain-powered life data marketplace Longenesis. The project will allow for development of a platform for sharing, securing and maintaining medical imaging and diagnostics informations like X-rays and CT scans. It is likely that the platform will be built on Bitfury’s private blockchain framework Exonum, enabling transactions to be validated using “anchoring” technology. Longenesis will likely ensure that only authorized parties have access to the medical data recorded on the blockchain, which will guarantee HIPPA compliance and General Data Protection Regulation (GDPR). Bitfury’s CEO Valery Vavilov expressed optimism on blockchain deployment in the medical sector:

“Blockchain technology can strengthen patient data security by providing a tamper-proof record of patient history while 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.”

The Spring Foundation Industry Partners (“SFIP”) Program is designed to create a regulatory compliant solution for ID verification and to assist in preventing identity fraud. Spring Labs has recently announced signing up a number of fintech companies to be a part of their program, to include SoFi, OnDeck Capital, Avant, GreenSky, Funding Circle, BlueVine, Fundation, Upgrade, Fundbox and Better Mortgage.

In January, United States-based health insurance giant Aetna partnered with IBM to create a blockchain network tailored to the healthcare industry. Estimated to serve over 39 million clients globally, the blockchain system will purportedly be designed to streamline insurance claims processing and payments, as well as manage directories.

With all of the various partnerships between “traditional” businesses and blockchain companies that have been announced over the last year or more, we can see the march towards real world application of this technology that will encompass all manner of business interactions for consumers, companies and government. With taxes being able to be paid via Bitcoin, blockchain use in healthcare and the general protection of sensitive data, mainsteam for blockchain is already here.

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