OncoCoin AG to launch bitcoin-like crypto-token ‘AMRIT’ for patients in India, Health News, ET HealthWorld

Pune: Swiss company OncoCoin AG announced that it will be launching a bitcoin-like crypto-token ‘AMRIT’ for patients in India to ease the entire transaction process for attaining healthcare services. The crypto-token is decentralized and GDPR compliant Real World Data (RWD) exchange inculcated to improve focus on patient’s health.

The ecosystem has been developed with the aim to provide effective healthcare solutions to the Indian population for prevalent diseases in the country. With over 3,50,000 active users globally, the platform leverages patented AI and Blockchain technology to help stakeholders such as medical researchers, physicians, hospitals, pharma companies, CROs amongst others to speed up drug discovery and development through a decentralized ecosystem approach.

On plans of extending its AI services to other health fields, the company suggested that it will soon be launching a Neurology app by the end of this year covering Alzheimer’s disease, Parkinson disease among other neurological diseases.

The ecosystem along with the app focuses primarily on cancer, which is one of the most prevalent non-communicable disease (NCDs) with millions of lives being lost to the disease every year. Multiple types of research are conducted to progress in the development of treatment for cancer and improve medical outcomes for the patients, which can be significantly boosted by the real-world patient data provided by AMRIT.

The ‘Cancer Twin’, feature in the CURIA App also enables users to communicate anonymously with other patients with similar diseases.

Speaking about the role Amrit Ecosystem can play in providing effective cancer treatment, Dr. Gunjan Bhardwaj, CEO, Innoplexus AG and Founder/Chairman of the Board, OncoCoin AG said, “The AMRIT ecosystem is democratizing the process of cancer research by offering a base of 3.5 lakh users globally registered on the mobile app CURIA. Through the app, the pharma companies seeking to conduct clinical trials can connect with the patients for their participation and incentivize them for sharing their Real-World-Data with the utility token ‘AMRIT.’ Subsequently, users can use it for availing second opinions and other cancer related in-app services. This is an unprecedented ecosystem development which has no other match anywhere in the world currently.”

The company estimates the value of the medical records per user at $20,000 per record, noting that the AMRIT aims to achieve sustainable growth by providing real-world-data through a secure and encrypted platform.