The Austrian government is currently supporting a cancer research company from the UK that uses blockchain technology. With distributed ledger technology (DLT) it is possible to detect the disease in earlier stages. The information was released a few days ago by CoinTelegraph.
Austrian Government Support Blockchain For Cancer Research
Blockchain technology promises to revolutionize several industries. The health care sector is one of them. Lancor Scientific, a UK-based company, developed a device that is able to detect multiple cancer types. The screening results are later recorded using smart contracts on a blockchain. The company aims at opening a new laboratory in Graz.
The cancer screening tool was released back in October and it uses artificial intelligence (AI). With it, Lancor Scientific aims at having 90% accuracy about the tests performed.
According to the press release, Lancor will be working with local universities in Austria. Some of these institutions include the Technical University of Graz, the Medical University of Graz and the Sigmund Freud University Vienna. In this way, these universities will help the firm to perform international research projects.
Austria’s minister of foreign affairs Margarete Schramböck said that the state is very interested in blockchain technology.
She commented on the matter:
“Blockchain is definitely one of the new important technologies. In addition to Artificial Intelligence and Speech Recognition, it is one of the big issues we want to highlight in the coming period of the EU Presidency.”
As per the press release, the Austrian government will be giving Lancor grants over a five-year period related to facilities such as research equipment or access to academic expertise.
Back in February this year, we wrote at UseTheBitcoin that Wien Energie, an Austrian utility company, was working with blockchain technology. The company was trying new blockchain products in a project near central Vienna.
Austria is a very active country in terms of cryptocurrencies. Austria is currently the third country with the largest number of Bitcoin ATMs in the world after the US and Canada. It has 248 ATMs and it might have new machines installed in the future.
Additionally, there are several other companies working with blockchain technology in the health care industry.
