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Blockchain-Based Health Project Receives US Government Grant

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Blockchain-Based Health Project Receives US Government Grant

United States’ government body, the National Science Foundation (NSF), which aims to promote research in fundamental sciences in the country has selected a blockchain-based project for a grant worth 225,000 dollars. According to a press release, the grant has been received by a New England based blockchain company SimplyVital Health Inc., which has developed a blockchain protocol known as the Graphene protocol. The Graphene when integrated with an insurance protocol developed by them can lead to great savings in health care costs.

The grant is given every year by the NSF to promote innovation among Small Businesses and Start-ups, for research and development of certain purposeful projects. 

The Benefits of the Graphene Project

The project aims to reduce the cost of health care through more efficient data access for recipients and providers. This will basically reduce the trust deficit which goes on to create friction in the system.

The Graphene protocol when integrated with Nexus, which is compatible with the Health Insurance Portability and Accountability Act, can create a very fast data access system at a much lower cost than at which it originally operated. Being on a blockchain it will be safe and immutable as well as universally accessible.

Blockchain and the US Government

Although Donald Trump had shown his distrust of Bitcoins about a year back, the US government agencies, however, cannot seem to get enough of blockchain. Not only are government agencies in the United States showing interest in blockchain ventures, but they are hiring experts in the field in projects like that of NASA, which is designing a spacecraft that is self-operated through a blockchain system. This might very well be a response to the Chinese interest in blockchains. The East Asian economy had recently been reported to be bringing out a new central bank digital currency, China Central Bank Digital Currency (CBDC).

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I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.

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