The Bitcoin-based genetic knowledge tracking system Eggschain has introduced a partnership with the Boston IVF chain of 30 fertility clinics within the United States.
The new partnership will use blockchain know-how supplied by Eggschain to help within the tracking of cryogenic preserved sperm for use in IVF and different fertility and non-fertility remedy, in addition to long-term storage of genetic knowledge. A spokesperson for Eggschain stated:
“Using the blockchain to track biospecimens such as sperm and eggs empowers individuals facing reproductive issues. This pivotal partnership enables greater confidence through the transparency and immutability of the data.”
Founded in 1986, Boston IVF is a series of fertility clinics focusing on IVF, genetic knowledge storage and endocrinology. The clinics have reportedly helped over 100,000 infants be delivered thus far. The chain has additionally graduated greater than 30 reproductive endocrinologists by way of its accredited REI Fellowship Program.
Boston IVF CEO David L. Stern stated he hopes that integrating blockchain know-how to the corporate’s operations will enhance the shopper expertise “with an unparalleled degree of transparency and safety.”
Austin-based Eggschain is a healthcare technology company building a supply chain solution for the fertility industry using blockchain built on Bitcoin layer-two Stacks. It operates a custody management system for genome, stem cells, DNA, RNA, organs, tissues, blood and IVF-related security. It supposedly reduce time in the sperm selection process across global jurisdictions by registering data on its platform, protect high-level patient data, prevent misfiling data and increase the transparency of overall operations.
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By partnering with Boston IVF, Eggschain is entering the $21.89 billion global IVF market that is forecast to reach nearly $34 billion by 2028 according to a report by Grand View Research.
The healthcare industry has enjoyed several benefits from blockchain technology, such as from CURE Chain and Aimedis which utilize nonfungible tokens to help patients store data and even offer crypto rewards for adding to their profile.