Big Money for Big Ideas
Get ready for some serious funding news! New England-based blockchain company SimplyVital Health, Inc. has secured a hefty $225,000 grant from the United States National Science Foundation (NSF). This cash infusion comes as part of NSF’s commitment to supporting innovative startups through its Small Business Programs, which generously allocates $200 million each year. Talk about a payday!
What’s the Plan, Stan?
SimplyVital is setting the stage for an exciting new chapter with plans to research and integrate its protocol, Nexus, with the Graphene protocol. The goal? To enhance healthcare competencies by reducing costs and improving accessibility through the power of blockchain. Nexus is already compatible with the Health Insurance Portability and Accountability Act (HIPAA), and the addition of Graphene aims to cut the bandwidth needed for distributing data, potentially translating into big savings for healthcare providers and patients alike.
NSF’s Support: A Nod to Innovation
Andrea Belz, the division director at NSF’s division of industrial innovation and partnerships, remarked on the importance of such funding, stating, “NSF is proud to support the technology of the future by funding the most creative, impactful ideas.” Essentially, they’re betting on deeper tech startups to turn scientific innovation into solutions tackling monumental challenges. Who knew saving money could sound so smart?
The Value of Blockchain in Healthcare
Try to wrap your head around this: the market value of blockchain technology in healthcare is predicted to zoom past $1.6 billion by 2025. Factors like government initiatives and increasing investments are catapulting blockchain’s relevance in health services. With major players pivoting towards this tech, it’s like watching a thrilling block party—in the digital sense, of course!
Keeping Up with Blockchain Trends
SimplyVital isn’t the only company diving headfirst into blockchain waters. Recently, MediConnect, another startup, achieved a significant milestone by completing a Proof-of-Concept designed to meticulously track medications within the supply chain. By integrating processes from UK Meds, they’re set to manage prescription medication distribution more effectively. It looks like blockchain is gearing up to disrupt healthcare as we know it!
+ There are no comments
Add yours