The BlueCloud Network Begins Utilizing Blockchain Technology On a Global Scale
BlueCloud and EXOCHAIN™ will collaborate for the purposes of revolutionizing security and adjudication in the life sciences
AUSTIN, Texas, July 10, 2018 /PRNewswire-PRWeb/ -- HealthCarePoint(HCP), a Texas-based health care and clinical research networking-technology company founded by patient survivors, today announced its mutual collaboration with EXOCHAIN™, a leader in blockchain identity, risk management, and regulatory compliance. The collaboration will work to revolutionize the standard for ensuring the safety of healthcare professionals and patient's identity in healthcare and clinical trials.
Healthcare Professionals and patients are familiar with the consequences of working in a siloed system. Data can becomes outdated very quickly and costly to administer. This has caused the current healthcare and clinical research system to experience vast redundancies, waste, fraud, and abuse. Many institutions and businesses have proposed solutions to these issues, however, few have suggested embracing blockchain technology for the management of an individual's identity. Blockchain protocols are constructed to make data resistant to corruption by allowing network nodes to form a consensus about which data is legitimate and therefore allowed to be entered into a blockchain database.
The BlueCloud® network represents over 1.4 Million healthcare and clinical research professionals in 167 countries from well over 50,000 organizations including, but not limited to, pharmaceutical drug discovery companies, hospitals, and universities, all of which must verify and secure their identity in order to participate in FDA-regulated clinical trials and multiple other areas in the healthcare ecosystem. Exochain™ will act as BlueCloud's third-party adjudicator. When healthcare professionals sign-in to their BlueCloud account, Sponsors, Site Management and insurance payers in the healthcare ecosystem will have peace of mind knowing that the person, system, and company information gathered is valid. By looking to this method of data organizing, we challenge the dominant paradigm of anonymity and thus improving the healthcare and clinical research through incentivizing compliance.
"This is an exciting time in our evolving partnership with BlueCloud. Exochain has set a new standard in identity management with our patent pending Odentity™ scoring framework," stated founder and CEO, Bob Stewart. "This blockchain-based identity resolution engine will insure that professionals accessing the BlueCloud Network are properly validated, delivering the strictest security with baked-in legal and regulatory frameworks and thus ensuring regulatory compliance in healthcare and clinical research on a global level."
As the President and Co-Founder of BlueCloud, Al O. Pacino explains, "There is a lot of buzz around blockchain being used in healthcare and clinical research without any substantive proof or value to the industry. We feel it's important that the industry understands not only the opportunities and ways to modernize the industry using proven and valid blockchain based business models like EXOCHAIN, but also demonstrating that such blockchain models actually work, bringing value to the industry - for the benefit of the patient."
EXOCHAIN PBC is a US blockchain company developed by some of the brightest technical and legal minds. The EXO™ token is projected to be a US-based, globally-compliant ERC20 token. Learn more about EXOCHAIN at http://www.exochain.com
About BlueCloud by HealthCarePoint
BlueClouds are preferred destinations for healthcare and clinical research professionals, employers and stakeholder organizations. Nominated as one of the top innovations in the industry, BlueCloud® is the first independent (real-time/single sign-on) global Professional Network. A global collaborative network connects healthcare professionals and organizations in a secure, private system. It is comprised of various networks, including education, standards, technology, healthcare professionals, research sites, healthcare sites, schools and patient networks, that organize, centralize and share verifiable information for managerial and compliance activities. Available in over 167 countries, BlueClouds are used by over 1.4 million healthcare professionals from sponsors, CROs, research sites, hospitals and universities to thousands of healthcare and clinical research stakeholders. Saving the industry millions of dollars by eliminating redundancies, BlueClouds expedite study startup as well as ensure quality, transparency and compliance with the united mission of leaving no patient behind®.
SOURCE BlueCloud
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