Health data companies Bitfury and Longenesis developed a blockchain-based consent management solution that is designed to streamline data collection for medical research, according to CoinGeek.
The blockchain solution aims to make it easier for researchers and physicians to track and manage user consent for individual studies and medical trials. Participants may withdraw consent from studies at all times.
User consent updates are recorded in real time and on an immutable, transparent record. The decentralized ledger uses Bitfury's existing blockchain Exonum. The blockchain can be used as a data management system and as an add-on to an existing digital system for storing user consent, according to the report.
The new product is HIPAA-compliant and complies with the General Data Protection Regulation.
"The new blockchain solution will strengthen the process of collecting data and researching medical conditions, which could offer far-reaching benefits to people all over the world," Bitfury CEO Valery Vavilov said, according to CoinGeek.