Things are looking up for the Factom project once again as they received a grant to secure medical records. What is even more intriguing is how this grant is issued by the Bill and Melinda Gates Foundation. Using blockchain technology to secure medical records is a significant step forward, and it is now up to Factom to make this venture a success.
Bill And Melinda Gates Foundation Embraces Blockchain
The news came as quite a surprise to the blockchain community. Using blockchain technology outside of the financial sector is only a matter of time, yet very few “mainstream initiatives” are focusing their attention on these possibilities. The Bill and Melinda Gates Foundation sees a bright future for securing medical records on the blockchain, and they want to see if the concept is viable.
Tapping Factom for this venture is quite significant for the company. That said, Factom has been working on building globally distributed records accessed anywhere by anyone with the right authorization. Moreover, the company has also introduced biometric verification measures to provide an even more secure ecosystem.