The Bitfury Group in The United States Partners with a Medial Artificial Intelligence Company to Develop an Innovative Application to be used by the Healthcare Industry

The Bitfury Group in The United States Partners with a Medial Artificial Intelligence Company to Develop an Innovative Application to be used by the Healthcare Industry

The Bitfury Group-a technology company in the U.S., has decided to collaborate with a medical artificial intelligence company based in Baltimore known as Insilico Medicine, to produce new and innovative applications typically for the healthcare industry making use of blockchain, Chief Executive Officer of Bitfury confirmed on Friday, August 11, 2017. Blockchain is a virtual ledger of transactions that specifically attained vast importance as the software that underpinned the virtual currency bitcoin. The innovative technology is quite developed in the private and public sectors and has gained mass attention throughout the globe for its capacity to permanently track and record transactions or assets across all types of industries.

A memorandum of understanding was signed by both the companies last month confirming collaboration and partnership for developing and studying artificial intelligence and blockchain solutions to validate, track, manage, and share healthcare data, said the CEO and founder of Bitfury, Valery Vaviloy in a mail. The partnership is currently at its early stage. Therefore, there is no detailed information available about the specific uses or potential projects at present.

Artificial intelligence integrated in the healthcare sector makes use of software and algorithms to imitate human ability to scrutinize complex medical information. Massive amount of date related to healthcare sector tends to push the development of artificial intelligence applications.  Vaviloy mentioned that both the companies will be using Exonum blockchain platform offered Bitfury to secure and store health data and information in a system which is compatible with artificial intelligence. Chief executive of Bitfury said, “Artificial intelligence has not touched its core potential especially in the healthcare industry at present because it needs a diverse and massive range of data for learning and to provide accuracy and executable results.”

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