ConsenSys, the Ethereum-focused company founded past Joseph Lubin, announced on Feb. 25 that information technology will spin off its health partitioning. The new ConsenSys Health company volition develop blockchain utilise cases to tackle problems in the U.Due south. healthcare industry.

The declaration is part of ConsenSys' strategy shift of favoring products such equally Codefi and Infura, which led the visitor to spin out several internal projects into contained entities.

ConsenSys Wellness focuses on applying blockchain to the health manufacture, citing issues such every bit ascent costs and access to care as some of the areas where blockchain tin contribute. Co-founder of Ethereum (ETH) Joseph Lubin commented on the news, saying:

"Spinning off a carve up company in this area is an opportunity for us to combine the powerful technology congenital past ConsenSys with a team of domain leaders to solve the biggest challenges in healthcare."

The new visitor will be headed by Heather Leigh Flannery, who was the Global Lead for healthcare at ConsenSys. She is deeply involved in many initiatives combining blockchain with healthcare, serving on the chair of associations such as HIMSS Blockchain in Healthcare Task Force, Blockchain in Healthcare Global and the Healthcare Special Interest Grouping in the Ethereum Enterprise Alliance.

The blockchain solution for healthcare

ConsenSys Wellness will exist specifically targeting the U.S. healthcare market as the virtually ripe for disruption, citing its high per-capita cost — by far the highest amongst OECD countries.

According to ConsenSys, blockchain tin meliorate on this by addressing the rising costs of research and administration. Making data sharing safer and faster, expanding access to care and engaging patients directly are some of the initiatives where blockchain can aid. Flannery is confident that the employ of technology can improve the situation:

"The convergence of many emerging innovations, such as blockchain and machine learning, enables us to approach old problems in new ways. This opens upwards the possibility for improved patient and provider experiences, new business concern models, and ultimately, a sustainable and value-based healthcare organisation."

Healthcare is i of the central themes of the upcoming 2022 U.S. presidential ballot. As the primaries for the Democratic presidential nomination continue, virtually candidates are proposing political approaches to the problem, such equally Bernie Sanders' "Medicare for All." Though he is currently leading the polls, the proposal is generating immense criticism due to its radical approach.

A technological solution spearheaded past blockchain may become a more acceptable alternative for the public. Of the remaining candidates, only Michael Bloomberg has shown some interest in the cryptocurrency and blockchain space.