Austrian policy relies on blockchain promotion in the medical sector – Coin Hero

With regard to the countries within Europe, where some innovations such as ATMs for the exchange of Fiat money in Bitcoins arose, it is obvious that Austria also acts exemplary regarding the promotion of other Blockchain employments.

Smart Contracts and Blockchain to support fight against cancer

With regard to cancer research, the Austrian government has now announced that it is supporting a company that has taken up the cause of research involving the blockchain. The government in Vienna had already announced on several occasions that it would distribute a large amount of subsidies. In this case it concerns the British research company “Lancor Scientific”, according to the current state of knowledge in the media. The blockchain as well as the Smart Contracts known from Ethereum technologies will be used for better and faster screenings in the course of research. The promotion does not take place completely unselfishly. The company is apparently planning to open a laboratory in Graz, Austria, so that further Blockchain-related jobs will be created in the country.

Company wants to offer patients own token

In addition, cooperations with various universities are to be realized. The Smart Contracts and the Blockchain should not only be helpful in carrying out the cancer tests, but also in the subsequent recording. Within five years, around 10,000 screening devices will be produced, which will ultimately be used to carry out around half a million cancer tests a day. For the blockchain technology, the company will create its own ERC 20 token, which will be given the name “Medici”. At the beginning of 2019, an ICO is to be implemented.

For example, the token should enable patients to pay for the tests. Discount models are also planned if patients use the crypto currency. Austria’s Ministry of Economic Affairs would like to subsidise the Blockchain project for five years.