Pistoia Alliance Medical Blockchain Innovation
February 11, 2019 — ADVFN Crypto NewsWire — Some of the most basic benefits of a cryptographically secure blockchain based network could prove to revolutionize the healthcare industry. The integrity of physical medical devices and substances used for treatment can be validated in the same way the companies are using blockchain technology to validate the supply chain of consumer goods to prevent counterfeit products. And in the same way that this data validation is used for transactions of monetary value or other property, it can be used to ensure that patient medical records and treatment history are being properly transferred and updated.
The Pistoia Alliance was founded in 2009 by representatives of AstraZeneca, GSK, Novartis and Pfizer after meeting at a medical conference in Pistoia, Italy. Currently there are more than 100 member companies. The group believes that the medical industry deservces the strongest research and development, and that this is only made possible by a shared effort:
“The Pistoia Alliance’s projects help to overcome common obstacles to innovation and to transform R&D – whether identifying the root causes of inefficiencies, working with regulators to adopt new standards, or helping researchers implement AI effectively.”
Blockchain Technology Applications
In June of last year, thre of the affiliated organizations launched a blockchain network to create “Personal Care Pathways.” Guardtime. Instant Access Medical and Healthcare Gateway launched the Personal Care Record Platform, “MyPCR” uses the cryptographic nature of blockchain networks for securely transferring medical records and patients’ consent to particular treatments. Delivering this information electronically and at a large scale was not previously possible because there was not secure mechanism with the capabilities of blockchain network.
“Medication adherence is the best way to ensure positive health outcomes for patients at the earliest opportunity and an essential tool in combating rising medical costs. Over 30 million patients can benefit from this platform immediately, in the knowledge their data is safe and secure conforming to the very latest standards for data privacy, security and Integrity.” – Guardtime Health general manager Glen Ogden
Research Fueling Development
The Pistoia Alliance conducts surveys of their affiliated organizations and their patients in order to develop the best course of research and pilot programs. The group is actively engaging the benefits of blockchain technology, but looked into why the technology isn’t spreading faster. Their survey found that blockchain technology interest is present, but being held up by lack of access to to skilled personnel. They have now turned their efforts toward educating the medical industry on the emerging technology.
“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.” – Pistoia Alliance President, Steve Arlington.
By: BGN Editorial Staff