The Bitfury Group, the world’s leading full-service blockchain technology company, announced a collaborative agreement with Insilico Medicine, Inc., a Baltimore-based Artificial Intelligence (AI) and bioinformatics company, to develop novel solutions for healthcare applications using Blockchain technology.
The two companies signed a memorandum of understanding (MOU) to collaborate in academic and commercial settings to develop solutions that could revolutionize the healthcare industry. With the healthcare industry and the future of data collection ripe for innovation, Bitfury and Insilico are collaborating to study and develop blockchain and AI solutions for sharing, managing, tracking and validating healthcare data.
“Blockchain can secure and streamline our medical systems, while AI has the potential to revitalize data management and machine learning to help identify trends and diseases,” said Valery Vavilov, founder and CEO of The Bitfury Group. “By partnering with Insilico, we will be able to combine their expertise in deep learning and bioinformatics with our Blockchain proficiency and real-time solutions to create bespoke and innovative new products for the healthcare sector.”
“Bitfury is one of the most reputable Blockchain companies, developing their own end-to-end Blockchain solutions trusted by the major corporations and governments worldwide,” said Alex Zhavoroknov, PhD., founder and CEO of Insilico Medicine, Inc. “We are happy to enter into a research collaboration with Bitfury to develop innovative solutions that could save lives and extend the human lifespan.”