The partnership will use blockchain technology for some of its best-suited use cases in increasing transparency, verifying data and storing sensitive genetic information.
Bitcoin-based genetic data tracking system Eggschain has announced a partnership with the Boston IVF chain of 30 fertility clinics in the United States.
The new partnership will use blockchain technology provided by Eggschain to aid in the tracking of cryogenically preserved sperm to be used for in vitro fertilization (IVF) and other fertility and non-fertility treatment, as well as long-term storage of genetic data. A spokesperson for Eggschain said:
Founded in 1986, Boston IVF is a chain of fertility clinics that specialize in IVF, genetic data storage and endocrinology. The clinics have reportedly helped over 100,000 babies be delivered so far. The chain has also graduated more than 30 reproductive endocrinologists through its accredited REI Fellowship Program.
Boston IVF CEO David L. Stern said he hopes that integrating blockchain technology into the company’s operations will improve the customer experience “with an unparalleled level of transparency and security.”
Austin-based Eggschain is a healthcare technology company building a supply chain solution for the fertility industry using blockchain built on Bitcoin layer-two Stacks. It operates a custody management system that secures stem cells, DNA, RNA, organs, tissues, blood and IVF. It supposedly reduces time in the sperm selection process across global jurisdictions by registering data on its platform, protecting high-level patient data, preventing misfiling data and increasing the transparency of overall operations.
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By partnering with Boston IVF, Eggschain is entering the $21.89-billion global IVF market that is forecast to have reached nearly $34 billion by 2028, according to a report by Grand View Research.
The healthcare industry has enjoyed several benefits from blockchain technology, such as from Cure Chain and Aimedis, which utilize nonfungible tokens to help patients store data and even offer crypto rewards for adding to their profile.