The project’s new chapter will create problem solving life science research and development (R&D), instances of use that would provide a clear return on investment (ROI) and identify programs for blockchains that deliver little inherent value to the sector.
Steve Arlington, president of the Pistoia Alliance said “We believe blockchain has an important role to play in the life science sector and want to solidify use cases now so the whole industry can realise the value sooner. By working together on this aim, we can ensure that our efforts are not duplicated and that even more stakeholders can benefit.”
Arlington further said
“Much of the industry is still at the ‘discussion’ stage of blockchain, we want to move beyond this and take action that actively supports members and leads to tangible outcomes that will benefit R&D, accelerate innovation and support the discovery of new treatments.”
The organization has previously made attempts to enlighten the sector about blockchain and to promote the sharing of knowledge and skills. The new era of the blockchain endeavor will concentrate on verifying the data identification sources, guaranteeing data quality and enhancing the sharing of information within and between organizations.
A survey of life science experts by the Alliance showed that unfettered access to qualified staff is the biggest hurdle for the adoption of blockchain, followed by a degree of difficulty in comprehending the technology. Almost a fifth of the respondents said they think that blockchain adds no significance beyond a typical database.
The project manager and consultant Jake Dreier of the Pistoia Alliance blockchain said:
“There are still many misconceptions about blockchain in the life science industry that we need to work hard to overcome. Unfortunately, people’s perceptions have led to some organisations completely avoiding blockchain technology, and many others unsure of how it can benefit them.”
To address misperceptions, the group works with members to provide awareness and education. Webinars and trainings will also be held to support those willing to participate in deploying the technology. MyPCR, the world’s first detailed blockchain-supported personal care record platform, was initiated last year by the blockchain business Guardtime and industry partners Instant Access Medical and Healthcare Gateway.