Built on Algorand, and in partnership with the Government of Maharashtra in India, NFT technology will be used for storing personal health data for the first time.
MAPay will use its proprietary NFT technology to enable secure, decentralized storage. This application for NFTs will help eliminate intermediaries in the healthcare system that routinely cause bottlenecks, introduce risk, and drive up costs for all parties including patients; public, private, and government health providers; insurance companies; and banks.
With key healthcare partnerships in the U.S. and beyond, MAPay will use the Algorand blockchain as the backbone for future advancements in the sector.
In collaboration with leading organizations focused on advancing interoperability and payments in healthcare, MAPay seeks to implement a patient-driven data exchange that aids in population health management and better overall outcomes. The firm is working alongside large pharma, insurers, health systems, banks, and governments.
Our vision and passion are aligned with our global partners to democratize healthcare. We want to truly transform Healthcare to Human care,” said MAPay CEO Michael Dershem. This use case is a perfect real-world application of blockchain technology. The impact on individuals and society as a whole is what we wake up to accomplish every day.
The Algorand blockchain has experienced zero downtime since its launch. Its sustainable, carbon-negative technology offers immediate transaction finality, consensus and network-level security, and advanced smart contracts built for scalability.
The open, public infrastructure powers participation, transparency, and efficiency with real-world applications spanning many industries, including healthcare, finance, humanitarian aid, government, sports, entertainment, and more.
MAPay is a global healthcare fintech company that is deploying distributed ledger technology to power smart contracts, transacting secure medical solutions.
The company has developed a hybrid architecture of both centralized and decentralized protocols for multi-party medical payments and HIPAA-compliant data exchange. MAPay is working in association with hospital networks, practice management systems, drug companies, insurance payers, and government entities.
The company is committed to empowering patients and healthcare providers by leveraging blockchain technology to improve and align incentives, reduce costs, and bring increased transparency and data exchange. The company believes in permissible open-sourced system collaboration and solution sets that are economically and socially impactful.
