The Bitcoin based genetic data tracking system, Eggschain, has announced a partnership with the chain Boston IVF, made up of 30 fertility clinics in the United States.
The new partnership will use blockchain technology provided by Eggschain to assist in tracking cryogenically preserved sperm to be used for in vitro fertilization (IVF) and other fertility and non-fertility treatments, as well as long-term storage of genetic data. . An Eggschain spokesperson said:
“Using the blockchain to track biospecimens such as sperm and eggs empowers people facing reproductive problems. This fundamental partnership enables greater trust thanks to the transparency and immutability of the data.”
Founded in 1986, Boston IVF is a chain of fertility clinics specializing in IVF, genetic data storage, and endocrinology. The clinics have reportedly helped deliver more than 100,000 babies to date. The chain has also graduated more than 30 reproductive endocrinologists through its accredited REI Scholarship Program.
Boston IVF CEO David L. Stern said he hopes that the integration of Blockchain technology into the company’s operations will improve the customer experience “with an unprecedented level of transparency and security.”
Eggschain, based in Austin, Texas, is a healthcare technology company that builds a supply chain solution for the fertility industry using a blockchain built on top of Bitcoin’s layer 1 solution, Stacks. It operates a custodial management system that secures stem cells, DNA, RNA, organs, tissues, blood, and IVF. Supposedly, it reduces the time in the sperm selection process across global jurisdictions by registering data on its platform, protecting high-level patient data, preventing erroneous data, and increasing transparency of data. operations in general.
By partnering with Boston IVF, Eggschain enters the $ 21.89 billion IVF market, expected to reach nearly $ 34 billion, according to a report by Grand View Research.
The healthcare industry has enjoyed several benefits from Blockchain technology, such as Cure Chain Y Aimedis, that use non-fungible tokens to help patients store data and even offer rewards in crypto assets for adding it to their profile.