Factom, an Austin-based blockchain technology company offering data management and record keeping support for business, announced it is the recipient of a Bill and Melinda Gates Foundation grant. The intent of this funding is to address one of the world’s most urgent problems — the maintenance of medical records that are secure, readily accessible and reliable.
Prevailing medical record systems are typically paper-based and stored in hard copy files. This system becomes a problem, particularly in the developing world, when people relocate or if a region becomes politically or economically unstable. Creating an infrastructure for medical records that is individual-based and secured via the Factom blockchain addresses both of these issues in a cost effective and pragmatic way, offering real benefits to poorer countries.
With advances in this solution, medical providers and clinics will have a greater ability to address disease conditions and manage care in areas often lacking technological resources. By way of example, through the use of a smartphone a medical professional can access the record of a baby born in a remote area to ensure they are receiving correct vaccinations. The same for an HIV-infected person where viral load measurement results need to be identified.