MAPay, is a company that provides healthcare technology services. Now, it confirmed its partnership with the Ministry of Public Health and Family Welfare, Government of Maharashtra, India, to create health records on the Algorand blockchain.
MAPayMAPay, is a global technology company that provides healthcare solutions focused exclusively on decentralized payment networks. Currently, they confirmed that they have secured a partnership with the Ministry of Public Health and Family Welfare of the Government of Maharashtra, located in India.
The goal is that through the technology provided by blockchain, NFTs that store personal health data based on the Algorand blockchain will be created. The first batch of non-fungible tokens is expected to be a little more than 100 million NFTs for its first test.
MAPaywill use its patented NFT technology to enable decentralized, but above all secure storage for individuals. Also, the mission through the application of NFTs is to help eliminate intermediaries in the healthcare system that commonly cause bottlenecks, risks and increase costs for all parties (patient, public, private and governmental healthcare providers, insurance companies, banks, etc.).
In addition, as I mentioned before, the network of Algorand’s as the backbone for future advances in the healthcare sector.MAPay is also collaborating with leading organizations working to promote interoperability and payments in healthcare. This is where MPay comes into play, as, it is a company looking to implement data exchange powered by blockchain technology and NFTs. As a result, this firm already has partnerships with big pharma, insurers, health systems, banks and governments.
Michael DershemCEO of MAPay, spoke about this new tool that merges NFT technology with the healthcare field. He said that MAPay’s vision and passion always seeks to be aligned with global partners, which is to democratize healthcare.
Also, he added that MAPay wants to reliably transform human healthcare and believes that this use case where the combination of blockchain technology, NFTs and the real world is applied to perfection is undoubtedly a great step for innovation.
He concluded by saying that the younger generation has an idea of what NFTs are and every day sees them as a technology that can have a positive impact on individuals and society, since MAPay is working every day to achieve this technological revolution.
On the other hand, the Algorand’s blockchain had no downtime since its launch and that makes its technology sustainable and carbon-negative. Also, it offers a very large amount of immediate transactions, consensus and network-level security. Another positive feature of Algorand is that its smart contracts are becoming more and more advanced and manage to generate great scalability for the creation of new products such as these 100 million NFTs for the healthcare field.
Finally, Algorand enjoys an open public infrastructure that is driven by participation, transparency and efficiency with real-world applications spanning major global industries such as healthcare, finance, humanitarian aid, government, sports, entertainment, gaming and more.
MAPay is already accepting payments in Bitcoin and Ether, Ethereum’s native currency.
Another person who spoke out regarding this new application that MAPay will be making with health-oriented NFTs was Dr. Sabine KapasiDr. Sabine Kapasi, leader of the UN’s Health Policy and Governance Strategy, said that as a physician and participant in the creation of public health policies, she is certain of the need for a more reliable integration and storage of patients’ clinical records.
Also, he added that while it is the beginning, there is still a lot of work to be done if the idea is to generate a whole digital infrastructure and autonomous AI solutions, since, healthcare is not accessible right now for everyone.
Finally, he assured that blockchain technology and NFTs are transformative tools, since their transfer and acceptance at a global level is already within the reach of many and that the barrier that used to exist for adoption is disappearing a little more every day.
¿What exactly is MAPay?
MAPay is a global technology company that seeks to provide healthcare through financial services. It is currently implementing distributed accounting technology to create powerful smart contracts and secure transaction solutions.
Also, the company developed a hybrid architecture of centralized and decentralized protocols for multi-party medical payments and data exchange that complies with HIPAA.
The work of MAPay focuses on helping hospital networks, practice management systems, insurance payers, pharmaceutical brands and government entities. This company committed to empower patients and healthcare providers by effectively leveraging blockchain technology and NFTs for different services such as people’s health records.
Another of the actions it seeks to resolve is to improve and align incentives, reduce costs and provide greater transparency and secure data exchange. As a result, MAPay believes in the collaboration of permissible open source systems and solution sets that have a great economic and above all social impact.
About Algorand
Algorand was founded by the cryptographer Silvio Micaliwinner of the Turing Award. This blockchain is one of the fastest and most sustainable in the ecosystem, it is Layer 1 and very effective in providing fast, frictionless and inclusive technological solutions for all due to its low costs.
Algorand’s goal is to revolutionize many sectors where many tasks are still being done that no longer deliver the same results as before. The commitment to interoperability and consistent delivery, and its sustainable technology provides greater transparency, participation and efficiency for all.
Finally, Algorand is already chosen by more than 2,000 global organizations, and is transforming the next generation of financial products, value exchanges, protocol and more.
All investment or financial opinions on behalf of NFTexpress should not be taken as recommendations. This article is informational/educational material. Before making any type of investment do your own research.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.