Bitfury Partners with Medical Diagnostic Web for healthcare industry

The Bitfury Group has partnered with Medical Diagnostic Web (MDW) to bring some of the best implementations in blockchain technology to MDW’s growing radiology marketplace.

The partnership between Bitfury, the world’s leading full-service blockchain technology company, Longenesis, a startup that merges AI and blockchain, and MDW radiology marketplace will create a next-generation platform for maintaining, sharing and securing medical imaging and diagnostic data. Deployment of this blockchain infrastructure is expected to set new industry standards for healthcare blockchain implementation.

MDW is the first radiology blockchain platform designed to connect all players in the medical imaging ecosystem to create an open and transparent marketplace for image interpretation. It allows radiologists to contract with imaging facilities and securely share patient data and medical images such as X-rays and CT scans for interpretation.

The groundbreaking combination of new technologies, built on Bitfury’s Exonum™ private blockchain framework, will take the security of sensitive medical information to the next level. It will provide users with a more robust and discrete environment, while allowing transactions to be validated by nodes installed at a variety of respected sites, using “anchoring” technology to increase trust in recorded transactions.

“Blockchain technology can strengthen patient data security by providing a tamper-proof record of patient history while simultaneously providing an avenue for doctors to more easily share information,” said Valery Vavilov, CEO of Bitfury. “The digitization of trust that blockchain offers, paired with the medical potential of AI algorithms, has the ability to revitalize medical systems all over the world.”

This advanced new infrastructure, with baked-in data anonymization, advanced encryption and user permissioning, complements MDW’s existing immutable blockchain audit trails and tamper-proof records of patient data that create a safe and transparent way for users to exchange data and increase care quality, while improving efficiency and interoperability along the care continuum.

“We at Longenesis welcome how the medical data management industry is adopting new approaches in data storage and analytics by leveraging both the ultimate trust offered by blockchain and AI-powered data insights, allowing users to extract more value from data sets,” said Garri Zmudze, CEO of Longenesis. “A complete life data storage ecosystem should be transparent, smart and equipped with advanced cryptography tools. Thus, this is the blend we are building.”

The MDW marketplace is already successfully enabling radiology stakeholders to forge new business relationships. Radiologists enjoy immediate compensation for services, while radiology groups can access as-needed resources to boost reading volume, decrease exam turn-around-time and attract new clients. AI companies benefit through access to the highly specialized annotated imaging datasets and raw imaging data required to train and validate algorithms.

“A partnership with these industry innovators will enable MDW marketplace to provide the most advanced healthcare blockchain technology available today,” said Michael Averbach, MDW CEO and co-founder. “Our new hybrid private/public blockchain will provide the best of both worlds — a transparent and flexible yet protected and secure environment for medical data. We believe that together our advanced technologies will pave the way for a new quality standard in healthcare blockchain.”

The platform also helps solve many of today’s significant medical imaging problems, including service access and delivery, results communication and integration across the continuum of care.