Blockchain Company ConsenSys Turns Focus to Healthcare With New Division

The global blockchain company ConsenSys, which focuses on furthering development within the Ethereum blockchain space, has recently announced that they will spin off their health division to face existing issues within the healthcare space that may be fixed with blockchain. 

Date: 
February 28, 2020
Read time: 
2 minutes

Blockchain Company ConsenSys Turns Focus to Healthcare With New Division

Author: Dylan B
Date: 
February 28, 2020
Read time: 
2 minutes

The global blockchain company ConsenSys, which focuses on furthering development within the Ethereum blockchain space, has recently announced that they will spin off their health division to face existing issues within the healthcare space that may be fixed with blockchain. 

The global blockchain company ConsenSys, which focuses on furthering development within the Ethereum blockchain space, has recently announced that they will spin off their health division to face existing issues within the healthcare space that may be fixed with blockchain. 

The main goal of ConsenSys health will be to address the rising costs of healthcare (with a focus on administration and research) and how to address these issues by improving engagement with patients as well as the speed and security of data sharing.

This new branch, ConsenSys health, came about as a result of some of ConsenSys’s previously successful ventures within the industry like CodeFi and Infura, which allowed the company to turn projects within the organization into their own independent businesses. 

The new company will be spearheaded by the previous Global Lead for healthcare at ConsenSys, Heather Leigh Flannery, who was responsible for working on the chair of associations for organizations such as Healthcare Special Interest Group in the Ethereum Enterprise Alliance, the HIMSS Blockchain in Healthcare Task Force, and Blockchain in Healthcare Global. 

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The main goal of ConsenSys health will be to address the rising costs of healthcare (with a focus on administration and research) and how to address these issues by improving engagement with patients as well as the speed and security of data sharing. Flannery further describes this mission and ConsenSys’s confidence in the following statement: 

Global leaders recognize the need for change in our current healthcare system, as it lacks the access, affordability and inclusivity that patients need. The convergence of many emerging innovations, such as blockchain and machine learning, enables us to approach old problems in new ways. This opens up the possibility for improved patient and provider experiences, new business models, and ultimately, a sustainable and value-based healthcare system. At ConsenSys Health, our goal is to partner and innovate with public and private entities committed to positively transforming healthcare and life sciences.

Given the growing interest in healthcare as the presidential race ramps up and the constant release of stories regarding the inefficiencies and inconsistencies in the healthcare industry, especially when it comes to the costs of treatment, it will be exciting to see what ConsenSys can accomplish with this new division and its resources. 

Posted by Dylan B

Dylan Buckley is a writer based in California. He became interested in cryptocurrency upon discovering it in 2014 and soon started investing as well as writing for a wide variety of clients and crypto-startups in the space. When he is not producing content for individuals and businesses, he is typically working on his own self-development content or making music.

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