The partnership will use blockchain technology in some of the most appropriate cases to increase transparency, verify data and store sensitive genetic information.
Bitcoin-based genetic data tracking system Eggschain has announced a partnership with the Boston-based IVF network of 30 US fertility clinics.
The new partnership will use blockchain technology provided by Eggschain to track and track cryogenically stored sperm to be used for in vitro fertilization (IVF) and other fertility and infertility treatments, as well as long-term storage of genetic data. An Eggschain spokesman said:
“Using blockchain to track biosamples like sperm and eggs empowers people facing reproductive issues. This important partnership builds more trust through transparency and data immutability.”
Founded in 1986, Boston IVF is a network of fertility clinics specializing in IVF, genetic data storage and endocrinology. The clinics have reportedly helped deliver more than 100,000 babies so far. The network has also graduated over 30 reproductive endocrinologists through its accredited REI fellowship program.
Boston IVF CEO David L. Stern said he hopes the integration of blockchain technology into the company’s operations will enhance the customer experience “with an unprecedented level of transparency and security.”
Austin-based Eggschain is a healthcare technology company developing a supply chain solution for the fertility industry using a blockchain based on second-layer Bitcoin stacks. It has a memory management system that protects stem cells, DNA, RNA, organs, tissues, blood and IVF. It allegedly reduces time in the semen collection process in global jurisdictions by registering data on its platform, securing high-level patient data, preventing data errors and increasing overall transaction transparency.
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By partnering with Boston IVF, Eggschain enters the $21.89 billion global IVF market, which is expected to reach nearly $34 billion by 2028, according to a report by Grand View Research.
The healthcare industry has reaped several benefits from blockchain technology, such as: B. Cure Chain and Aimedis, which use non-fungible tokens to help patients save data and even offer cryptocurrency rewards when added to their profile.