Blockchain for Detecting Cancer? Austria Supports UK’s Lancor Scientific Using DLT to Find Diseases
There have been numerous problems in the present healthcare industry such as data isolation, scalability, security, lack of interoperable tools and so on. Earlier, BitcoinExchangeGuide had reported on how blockchain can be an essential health tool for finding a Cancer Cure.
A UK cancer research company, Lancor Scientific is reportedly using blockchain to identify the disease. What's even more exciting is that they are getting the support of the government of Austria. The company has already designed a tool to detect various types of cancer. They record the diagnosed result through smart contracts.
The product is similar to Google’s Lymph Node Assistant that uses advanced AI to screen cancer. Although the product by Lancor offers a better accuracy, reaching up to 90%.
The company plans to open a research lab in the city of Graz and have been working with many local universities there, including the Technical University of Graz, the Medical University of Graz, and the Sigmund Freud University Vienna. The new facility will examine the market viability and roll-out of Lancor Scientific’s patented Tumour Trace OMIS (Opto-magnetic Imaging Spectroscopy) device and the utilization of AI and blockchain technologies, with the aim of delivering accurate, low-cost and near real-time cancer screening at scale.
The company wants to roll out the device in 2019 and have a target to sell as much as 10,000 units in the next five years.
Notably, Austria’s Ministry of Economy is a supporter of blockchain technology. He had earlier said:
“Blockchain is definitely one of the new important technologies. In addition to Artificial Intelligence and Speech Recognition, it is one of the big issues we want to highlight in the coming period of the EU Presidency.”
Cancer screening requires numerous analyses for the initial discovery of abnormal cells in different parts of the body. Finding cancer early improves the chances for successful treatment and saves lives. It is of no surprise that many companies are working on this problem.
Apart from the aforementioned Google’s Lymph Node Assistant, Luven Diagnostic, a cancer diagnostic company is also doing similar research. They can use a screening methodology to detect early cases of cancer with 95% accuracy. The firm even launched an ICO to fund their research.