Quantum Teams Up With Oracle to Deliver HIPAA-Compliant Medical Blockchain Solution
Quantum Medical Transport announced on Monday its acceptance of an invitation from Oracle Corp to participate in the Oracle Blockchain Cloud Platform Beta program with the goal of developing HIPAA-compliant (a US industry standard) ‘QuantH’ medical blockchain technology.
Alongside Oracle’s suite of cloud technology, Quantum’s QuantH blockchain system seeks to enable rapid onboarding of new patients with an easily scalable global network, speed up existing processes with real-time information sharing, simplify compliance procedures and audits, reduce transaction costs and privacy risks, and resolve monitoring issues.
President of Quantum Medical Ricky Bernard said, “QuantH Medical Blockchain Technology will enable secure encryption data sharing that will be HIPAA compliant. We believe this technology platform can be a significant revenue generator for the company as healthcare professionals such physicians, medical facilities including the nursing homes we currently service will be able to utilize the subscription service that will use a multi-signature, multi-layer secure key code through a set of customized nodes to transport data.
“With Oracle’s collaboration with development and their Blockchain Cloud Service, we can accelerate revenue, create new revenue streams, and reduce cost and risk by securely extending medical blockchain business applications and processes while speeding up transactions across our partner ecosystem.”
QuantH is currently being developed on Oracle’s cloud-based integration platform to enable secure encryption and data sharing across large organizations with hundreds of thousands of disparate medical records and other silos of personal information.
Oracle stated, “As blockchain technology continues to evolve, Oracle will stay on top of the latest capabilities to ensure that our technology stays agile and competitive.”