Built on Algorand, and in partnership with the Government of Maharashtra in India, NFT expertise will likely be used for storing private well being information for the primary time

VOORHEES, N.J. and MUMBAI, India, Dec. 7, 2022 /PRNewswire/ — MAPay, a worldwide healthcare expertise agency with a deal with decentralized fee networks, unveiled its partnership with the Ministry of Public Health and Family Welfare within the Government of Maharashtra, India, to offer NFT expertise that can retailer private well being information on the blockchain for the primary time. Built on Algorand, the primary deployment will introduce upwards of 100 million NFTs for this function.

MAPay will use its proprietary NFT expertise to allow safe, decentralized storage. This utility for NFTs will assist eradicate intermediaries within the healthcare system that routinely trigger bottlenecks, introduce threat, and drive up prices for all events – together with sufferers; public, non-public, and authorities well being suppliers; insurance coverage corporations; and banks.

With key healthcare partnerships within the U.S. and past, MAPay will use the Algorand blockchain because the spine for future developments within the sector. In collaboration with main organizations targeted on advancing interoperability and funds in healthcare, MAPay seeks to implement a patient-driven information trade that aids in inhabitants well being administration and higher total outcomes. The agency is working alongside massive pharma, insurers, well being programs, banks and governments.

“Our vision and passion is aligned with our global partners: to democratize healthcare. We want to truly transform Healthcare to Humancare,” mentioned MAPay CEO Michael Dershem. “This use case is a perfect real-world application of blockchain technology. The impact on individuals and society as a whole is what we wake up to accomplish every day.”

The Algorand blockchain has skilled zero downtime since launch. Its sustainable, carbon-negative expertise affords speedy transaction finality, consensus and network-level safety, and superior sensible contracts constructed for scalability. The open, public infrastructure powers participation, transparency, and effectivity with real-world purposes spanning many industries, together with healthcare, finance, humanitarian assist, authorities, sports activities, leisure, and extra.

“As a clinician and a participant in shaping public health policy, I recognize the need for reliable integration and storage of clinical health records. This digital infrastructure is critical in building autonomous AI solutions, especially where accurate, accessible healthcare is not easily available,” mentioned Dr. Sabine Kapasi, UN Health Policy and Governance Strategy lead. “This technology is transformational. Its transference and acceptance globally once seemed unimaginable; but now it is within reach.”

About MAPay
MAPay is a worldwide healthcare fintech firm that’s deploying distributed ledger expertise to energy sensible contracts, transacting safe medical options. The firm has developed a hybrid structure of each centralized and decentralized protocols for multi-party medical funds and HIPAA-compliant information trade. MAPay is working in affiliation with hospital networks, observe administration programs, drug corporations, insurance coverage payers and authorities entities. The firm is dedicated to empowering sufferers and healthcare suppliers by leveraging blockchain expertise to enhance and align incentives, scale back prices, and convey elevated transparency and information trade. The firm believes in permissionable open-sourced system collaboration, and answer units which might be economically and socially impactful. For extra info, please go to https://www.mapaycorp.com/

About Algorand Inc. 
Founded by Turing Award-winning cryptographer Silvio Micali, Algorand’s excessive–performing Layer-1 blockchain is unparalleled for bringing quick, frictionless, and inclusive applied sciences to everybody. Algorand is reshaping each trade–from TradFi and DeFi to new creator economies and past. With a unprecedented dedication to interoperability and constant supply, its sustainable expertise powers extra participation, transparency, and effectivity for all. As the expertise of selection for two,000+ world organizations, the Algorand ecosystem is remodeling the following era of monetary merchandise, protocols and trade of worth. For extra info, go to www.algorand.com.

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