The Pistoia Alliance has expanded its blockchain project to include data sharing, data identity, and data integrity, according to a press release published on Feb 8.The Pistoia Alliance is a not-for-profit organization established in 2007, with representatives from well-known pharmaceutical industry companies which include Pfizer, Novartiz, and GSK. The Pistoia Alliance was formed to help integrate new technology to assist in the companies' respective research and development fields.
The newest project will focus on the use of blockchain to validate sources in identifying data, to ensure data integrity, and to improve sharing between the organizations.
Prior to its foray into blockchain-based data management, Pistoia concentrated on educating the medical industry on the emerging technology.
According to Pistoia, a recent survey found that access to skilled personnel and understanding of the technology are the primary barriers to blockchain's adoption.
That same survey reportedly stated that one-fifth of respondents do not think blockchain adds value beyond a standard database.
"Much of the industry is still at the 'discussion' stage of blockchain, we want to move beyond this and take action that actively supports members and leads to tangible outcomes that will benefit R&D, accelerate innovation and support the discovery of new treatments," according to the president of the Pistoia Alliance, Steve Arlington.
Distributed ledger technology has been implemented across the healthcare industry to make medical data more shareable and more secure.
In November 2018, Myongji Hospital, located in the city of Goyang, South Korea, signed a Memorandum of Understanding with Korean IT company BICube.
That same month, the Austrian government offered financial support for a U.K. cancer research company, Lancor Scientific, that uses blockchain technology to detect the disease.
Lancor Scientific has purportedly developed a device to detect multiple cancer types and records the screening results with smart contracts on a blockchain.
Medical R&D Alliance Expands Blockchain Project to Include Data Sharing
Published on Feb 8, 2019
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.