Tangent90 and Ascribe have recently announced a partnership to bring Blockchain technology to the medical industry to satisfy compliance and copyright requirements and ensure full transparency for all stakeholders.
Tangent90 has partnered with ascribe to build a trust network that enables companies, and healthcare professionals to track ‘value transfers’ including digital materials, physical items and payments. There is a need for a trust network because of government and industry mandates (US Sunshine Act, EFPIA in Europe) to ensure regulatory and copyright compliance. This initiative supports patients, healthcare professionals, commercial organisations and government to be transparent and open.
“Companies want to deliver on these regulatory requirements but there is so much ambiguity and duplicated effort, costing time and money,” said Tangent90 CEO Richard Lucas.
“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.”
“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,” said Bruce Pon, CEO of ascribe. “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.”
By tracking transactions on the blockchain, records are immutable and auditable by everyone. Tangent90 will use BigchainDB, a scalable blockchain database provided by ascribe as the storehouse for transactions, data and copyrighted materials. ascribe has been a vanguard in providing a digital copyright ledger enabling copyright provenance to be established, transferred and sub-licensed.
This solution could eventually cover the estimated 20 million value transfers in the EU and US alone, such as flights, hotels, and honorarium, bringing transparency, while reducing administrative burden for everyone.
- European Commission Releases New Support Paper on Blockchain – Further Funding for Startups Encouraged - September 19, 2019
- Bitpay Opens Up Doors For Ethereum Payments - September 16, 2019
- Neufund Launches Blockchain-Driven Equity Token Sale for Retail Investors Out of Lichtenstein - September 16, 2019
- London Blockchain Accelerator Academy Looking for Partners - September 13, 2019
- Blockchain Startup Blockstack Raises a Whopping $23 Million In SEC-Qualified Reg A+ Token Offering - September 12, 2019
- France Vows to Block Facebook Libra Cryptocurrency in Europe - September 12, 2019
- R3 and Mastercard Team Up Mastercard to Build Overseas Payments System Build on Blockchain - September 12, 2019
- ConsenSys Officially Joins Hyperledger Project – Adding Public Blockchain Capability to Hyperledger - September 11, 2019
- Telegram Open Network Labs Releases Development Suite for TON Blockchain - September 11, 2019
- Whale Alert: USD One Billion+ BTC Was Transferred in One Transaction Last Week - September 11, 2019
- New Professional API Trading Program AlgoX Prime API Launched by eToroX - September 11, 2019
- Bitcoin.com’s Roger Ver Steps in to Operate Node on Cryptographer David Chaum’s New Elixxer Project - September 11, 2019
- Seychelles Heats Up With a First for a National Stock Exchange – MERJ Exchange Goes Live with Tokenized IPO - September 10, 2019
- Computing Legend Steve Wozniak To Launch Blockchain Energy Project – EFFORCE - September 10, 2019
- Hollywood Star Wesley Snipes To Tokenize $25 Million USD Movie Fund with Liechtenstein Blockchain Innovator LCX - September 9, 2019
- Netki Extends TransactID Solution For FATF “Travel Rule” Compliance - September 9, 2019
- Market Demand For Sophisticated Crypto Trading Methods Drives Singapore’s Broctagon Fintech Group To New Heights – Pushing Them Past $5 million - September 5, 2019
- London-based Custodian For Digital Assets, Copper, Reach $500m In Transactions In Just Three Months - September 5, 2019
- UN Meeting: Gibraltar Lawyers Call For A Global Regulatory Framework For Cryptocurrencies - September 4, 2019
- Michael Terpin’s BitAngels Investor Network Partners with Bitcoin Bay to Expand Blockchain Investment Ecosystem in Toronto, Canada - September 3, 2019