US National Science Funds SimplyVital for HIPAA blockchain protocol
New-England based Blockchain Healthcare firm, SimplyVital Inc. today announced that it has received a $225,000 grant from the US National Science Foundation (NSF) for its protocol Nexus. The grant from NSF’s Small Business Technology Transfer fund will go into integrating the protocol Nexus with the Graphene protocol.
In addition, SimplyVital’s product, ConnectingCare utilizes Blockchain technology to store immutable audit trails concerning patients’ history. This aids health providers to access the information history. Nexus is the protocol used to ensure the data is trustworthy. The protocol does this in accordance with the Health Insurance Portability and Accountability Act (HIPAA).
Moreover, this is what caught NSF’s attention. According to NSF’s Andrea Belz:
“NSF is proud to support the technology of the future by funding the most creative, impactful ideas. With our support, deep technology startups can guide basic science into meaningful solutions that address tremendous needs.”
Specifically, the use of Nexus in ConnectingCare makes a trustworthy and secure database. Unlike conventional silos, it ensures efficiency. At the moment, NSF has funded a research to extend Nexus to work with the Graphene protocol. This is a method for block transmission. Scholars at UMass Amherst developed the Graphene protocol in 2017. It claims to be ten times more efficient than any other protocol.
Kat Kuzmeskas, the CEO of SimplyVital, commented:
“This grant is transformative and endorses blockchain as a viable tool to re-engineer healthcare. We are thrilled to represent the NSF with our blockchain work.”
Blockchain in Healthcare Sector
Additionally, the value of Blockchain in the healthcare sector has been dormant overtime. By 2025 the value is expected to surpass the $1.6 billion mark . This will be due to factors such as implementation of government initiatives and increasing investment in the market.
In Conclusion, recently a Blockchain startup dubbed MediConnect completed a workflow proof-of-concept created to track medication through supply chain. The firm has commenced integration of online pharmacy UK Meds’ processes to its platform.
About The Author
Mary BrendahMy first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.
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