The Birth of ConsenSys Health
On February 25, ConsenSys announced a bold new direction, spinning off its health division into a standalone company named ConsenSys Health. The main mission? To address the significant challenges plaguing the U.S. healthcare system using the transformative power of blockchain technology.
A Shift in Strategy
This move aligns with ConsenSys’ broader strategy to prioritize products like Codefi and Infura. By spinning off various internal projects like ConsenSys Health, the company aims to give focused attention and resources to solve specific industry challenges. And let’s be honest, in the realm of healthcare, the challenges are plenty!
The Pain Points in U.S. Healthcare
The U.S. healthcare system is notorious for its rising costs and accessibility issues. According to the OECD, the country holds the record for the highest per-capita healthcare spending. With the new company’s blockchain-focused lens, it aims to challenge these norms by:
- Enhancing data sharing efficiency and security
- Expanding patient access to care
- Improving interactions between patients and providers
The Visionary Behind the New Division
Heather Leigh Flannery, previously the Global Lead for healthcare at ConsenSys, will lead ConsenSys Health. Flannery is no stranger to the intersection of blockchain and healthcare, serving as chairwoman for various influential bodies like HIMSS Blockchain in Healthcare Task Force. She’s on a mission to harness blockchain’s potential to resolve the big headaches in the healthcare industry.
Blockchain: The Converging Solution
Flannery is optimistic about merging blockchain with emerging technologies like machine learning to reinvent old solutions. “The convergence of many emerging innovations enables us to approach old problems in new ways,” she stated, hinting at a future where patient experiences and provider interactions could drastically improve. Could this be the answer to shift the ongoing healthcare debate in a more tech-savvy direction?
The Political Landscape and Potential
As the 2020 U.S. presidential election approaches, healthcare remains a burning topic. Candidates are debating various political solutions, including Bernie Sanders’ controversial “Medicare for All.” With mounting criticism towards radical proposals like these, blockchain technologies might just become the shiny new alternative that garners public support. Interestingly, candidate Michael Bloomberg has also shown an intrigue in the cryptocurrency and blockchain universe. The winds of change are blowing!
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