The government of Maharashtra, a state on the western peninsula of India, has established a cooperation with MAPay's Ministry of Public Health and Family Welfare. The official population census for the area was 112 million in 2012, but by 2022, estimates put it at 125 million. The healthcare IT firm has announced that it would issue 100,000,000 NFTs on the Algorand blockchain to serve as a decentralized database for patient information.
Proof of ownership for a digital collectible, JPEG, work of art, or piece of virtual goods is represented by NFTs, which are digital files based on the blockchain. Furthermore, the technology may be used to establish digital identities on the blockchain.
As a first step, MAPay will employ web3 to store sensitive health information using its patented NFT technology.
Patients' medical histories play a crucial role in their care. As a result of the need for middlemen, this method may be time-consuming and costly. According to MAPay, the new blockchain-based data storage will do away with these delays, reducing or eliminating various potential dangers.
Given the strong healthcare alliances it has acquired in advanced economies like the United States, the business has said that it would leverage Algorand to roll out its services in several countries.
In a news release, MAPay said that the company aims to create a patient-driven data exchange to help with population health management and improve results. This is to be done in conjunction with other major organizations working to advance healthcare interoperability and payments. The company collaborates with the pharmaceutical industry, health care providers, insurance companies, financial institutions, and government agencies.
It is part of MAPay's mission to make healthcare more accessible to everybody, says MAPay CEO Michael Dershem, who cites the company's new system for storing individual health records as evidence. They aim to make "Healthcare" more like "Humancare," he remarked.
Since Dershem considers data storage to be an ideal application of blockchain technology in the real world, improving people's lives and the world at large is the driving force behind all they do. The Algorand blockchain is an industry-leading layer 1 blockchain that uses a proof-of-stake method, significantly cutting down on power requirements. According to its creators, the site has run smoothly without interruptions ever since it went live.
When asked about the need for secure integration and preservation of clinical health information, Dr. Sabine Kapasi, the head of the United Nations' Health Policy and Governance Strategy, indicated that he understands the necessity as a doctor and a participant in crafting public health policy. In places where up-to-date medical care is difficult to come by, this digital infrastructure is essential for developing autonomous AI solutions.
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