UK software developer Tangent90 has partnered with Ascribe to enable healthcare industry organizations and professionals to track ‘value transfers’ including digital materials, physical items and payments through the application of blockchain technology.
Tangent90 will use BigchainDB, a scalable blockchain database provided by Ascribe as the storehouse for transactions, data and copyrighted materials. Ascribe has thus far been providing a digital copyright ledger enabling copyright provenance to be established, transferred and sub-licensed.
Tangent90 CEO Richard Lucas commented:
“Companies want to deliver on these regulatory requirements but there is so much ambiguity and duplicated effort, costing time and money. Transparency regulation places an administrative burden on everyone – industry, doctors and regulators – we’re going to solve it with a seamless system built on a blockchain database.”
Bruce Pon, CEO of ascribe, noted:
“We’re excited to support Tangent90 to build a trust network in the medical field. If we can reduce the administrative burden while helping stakeholders to fulfill compliance requirements, it’s win-win for everyone. This is a classic use case for blockchain technologies, where you have multiple stakeholders and multiple data sources, but you want a single source of truth.”
Government and industry mandates, like the Sunshine Act in the US and EFPIA in Europe, require certain levels of regulatory and copyright compliance. By tracking transactions on the blockchain, records are immutable and auditable by everyone.
Started in 2015 by the Ascribe team, BigchainDB is a decentralized, federated and customizable blockchain database capable of one million writes per second, petabytes of capacity, rich querying and permissioning.