SIMBA Chain today announces a new partnership with Equideum Health, the Web3 and blockchain-powered health company formerly known as ConsenSys Health, to build a new web3 health data exchange for the global healthcare and life sciences industry.
The collaboration is aimed at significantly improving the global healthcare by building a decentralized marketplace, dubbed the Equideum Exchange, for empowering individuals to monetize health and health-relevant data about them.
The health data platform is part of Equideum Health’s advancement of the Health 3.0 paradigm, also referred to as “Ownership Health,” which is an extension of the read-write-own concept of Web3.
The vision sees health and health-relevant personal data used to deliver precision healthcare tailored to the data subject and also controlled and monetizable directly by that data subject. This allows individuals to profit economically from transactions involving data about them while curating much higher-quality data with verifiable provenance for scientific and global health purposes.
“The use of SIMBA Blocks in the Equideum Exchange’s development will provide a secure and trusted environment to build interoperable cross-blockchain solutions for longitudinal health data, automated health claims adjudication, interoperability, online patient access and supply chain management. With Equideum Health as our new lead partner for healthcare and life sciences, SIMBA Chain ventures into a new industry that is expected to yield many valuable projects in the months and years to come,” says Bryan Ritchie, CEO of SIMBA Chain.
“Adding SIMBA Chain as our lead partner for blockchain-based supply chain initiatives unlocks strategic value at a critical moment: the COVID-19 pandemic has aligned healthcare and life sciences leaders across the public, private, and philanthropic sectors on the urgency to re-architect global supply chains for resilience, adaptability, security, and health equity,” says Heather Leigh Flannery, Founder and CEO of Equideum Health.
“Further, by integrating our platforms, our partnership addresses one of the industry’s biggest barriers to adoption of blockchain technology: the deep concern that decentralized applications written for one blockchain ecosystem will not be interoperable cross-chain. Instead of remediating challenges with siloed, poorly utilizable data, this could create still more data silos. Our industry continues to contend with the legacy of non-interoperable electronic health records; it is vital that new exponential technology layered above doesn’t compound the problem,” Heather added.