A Bermudian-based healthcare technology firm is set to partner with an Australian-headquartered company to develop a future-ready decentralized health technology network in Bermuda leveraging the Algorand blockchain.
MAPay, has revealed that it will create its healthcare solutions by partnering with Verida, which not only gives connectivity to the Algorand blockchain but also provides decentralized identity and messaging, trusted storage, and private data ownership.
As per the official announcement by the team, this collaboration is oriented toward enabling innovative decentralized healthcare solutions such as preventative healthcare, clinical trial recruitment, acceptable sharing for healthcare research, and new visionary payment models. This partnership will bring extensive revolution in the healthcare sector, thus leveraging blockchain technology to the best potential.
“We are very excited to be working and building with Dersh The and the team at MAPay to bring decentralized health management to residents of Bermuda supported by the capabilities offered through Verida’s personal data protocol”, Verida co-founder and CEO, Chris Were, expressed his excitement and how the collaboration with MAPay will redefine the Bermudan healthcare sector.
Michael Dershem, founder, and CEO of MAPay who goes by the moniker ‘Dersh’ also spoke about the good prospects of the partnership.
“This ‘digital highway’ we are creating will allow for other DeFi applications to ride on our rails, allowing both human and capital resources to be deployed much more efficiently and economically, ultimately accelerating these game-changing models.”
Providing User-Centric Health Solutions Using Decentralized Web3 Technologies
With a user-centric model built using decentralized Web3 technology, MAPay’s and Verida’s solution is poised to become a revolution in the healthcare industry and blockchain ecosystem. MAPay’s solution leverages the decentralized identity, secure messaging, and reliable and credible storage capabilities of Verida’s network design to develop this innovation.
Asides from revolutionizing the healthcare sector with decentralized systems and Web3 technologies, the partnership between Verida and MAPay will give every stakeholder within medical commerce.
From governments and insurance companies to healthcare providers and patients, the ability to derive their own unusual and special value proposition from the MAPay Network as a Service; distributing a unified and unanimous lot of healthcare data across individuals in the healthcare industry with a mobile “Vault” that secures PHI.
The Vault was specially curated to connect existing, legacy healthcare software for users to easily send data or request useful information, request payment for services, and access post-care services and support.
This facilitates future-oriented decentralized healthcare solutions such as preventative healthcare, clinical trial recruitment, proper sharing for healthcare research, and new payment models, for users to experience and access healthcare services differently.
In addition to the plethora of solutions, the MAPay-Verida union seeks to foster cross-border stable coin payments based on the blockchain network, for healthcare services while facilitating token distribution and rewards to users on the ecosystem in a bid to promote its incentivization initiatives.
Notably, Verida in partnership with MAPay will see decentralized blockchain-based technologies bring real-world benefits to the Bermudan health sector.