MAPay to Collaborate with Verida, Achieving a Decentralized Healthcare Network in Bermuda

Any loopholes occurring in the healthcare sector, where is a vital sector, could lead to various drawbacks in the quality of services given by healthcare providers.

Secure storage and transfer of patient information are overwhelming issues faced in the healthcare sector, as siloed record-keeping systems can frequently lead to conflicting incomplete or ambiguous records and thus open up for poor data handling and increased security risks.

The inefficiency in the payment system is also one discouraging issue that has left the healthcare providers disturbed for a long time as failure to receive payment for the services they rendered as and when due is seen to have been unfair to them.

In addition, Cyberattacks are another threatening issue that is faced in the healthcare sector, as any attack on electronic health records can lead to the loss of significant patient data. All of these issues can be resolved through the use of blockchain technology.

Blockchain technology is one great asset to the world today as its use cases cut across different sectors: the health care sector.

To intervene in these prevalent issues facing the healthcare sector, MAPay has announced to collaborate with Verida to implement a decentralized healthcare network in Bermuda.

MAPay, a global healthcare fintech company responsible for deploying distributed ledger technology to strengthen smart contracts and transact secure medical solutions, has upped its game by partnering with Verida to implement a decentralized healthcare network in Bermuda.

Meanwhile, Verida is a network of trusted and verified personal data owned and totally controlled by users, incentivizing them to unlock their previously stored data on centralized platforms. Builders give access to this data, which help create compelling use cases such as decentralized messaging, trusted storage, and single sign-on.

Verida will see to implementing a decentralized network for MAPay by providing decentralized identity, trusted storage, private data ownership, decentralized messaging and connectivity to the Algorand blockchain. Both parties are optimistic about this cooperation and hope to bring the best to patients in need.