Everything Blockchain Enters Multi-Million Dollar Partnership with SP Capital Management to Develop World Medical Platform
The platform will be based on Everything Blockchain’s secure, patent-pending blockchain technology
Jacksonville, Fla., Oct. 18, 2022 (GLOBE NEWSWIRE) — Alt Blockchain Inc., (OTCMKTS: OBTX), a technology company enabling the real-world use of blockchain to solve critical business problems, announced today that it has entered into an agreement with SP Capital Management, LLC to develop a World Medical Platform (WMP) and electronic medical records (EMR) built on blockchain technology. The platform along with corresponding medical records will be stored in a decentralized blockchain using EB Build: EBI’s secure, patent-pending blockchain technology.
A new federal rule that went into effect on October 6, 2022, requires healthcare organizations to provide patients with unfettered access to their complete health records in digital format. It is important to protect this information from potential bad actors. The World Medical Platform enables these medical records to be stored on blockchain technology that enables individuals to secure their personally identifiable information (PII) and personal health information (PHI), while providing an immutable health record. The World Medical Platform will act as a one-stop shop for those who want to take charge of their health information and keep it secure.
“Our World Medical Platform will be a game changer in keeping medical information secure and giving data owners full control over how it is shared,” said Sandy Lipkins, president, SP Capital Management. “Alt Blockchain’s technology gives consumers, payers and medical providers and systems peace of mind knowing there is an immutable record.”
The agreement consists of three phases, i) design, ii) development and iii) implementation. EBI will be compensated for design and development costs of $1.25 million in cash and $5.0 million in token compensation. EBI will receive transaction fees throughout the lifetime of the system.
BIS Research estimates that the immediate use and integration of blockchain in healthcare could save more than $100 billion per year in costs related to IT, operations, support functions, personnel and health data breaches by 2025. “Partnering with SP Capital Management, to provide a world the wellness platform makes us able to enter a market that is only growing in prominence and importance,” said Toney Jennings, CEO, EBI. “Using our patent-pending blockchain technology as a foundation, users will be empowered to securely store medical data, forever.”
For more information on EB Build, please click here. For more information on EBI, visit altblockchain.io
About Everything Blockchain, Inc.
Everything Blockchain, Inc. (OTCMKTS: OBTX) envisions a future where every transaction is trusted and blockchain is used to meet ESG goals, support the cities of the future, build and control the transparency of supply chains, and ensure that data ownership rights are maintained forever. The company’s patent-pending advances in blockchain technology deliver the essential elements needed for real-world business use: speed, security and energy efficiency. Current sub-brands include: EB Advise, EB Build and EB Control. For more information, please visit https://www.everythingblockchain.io/
Forward-looking statements
This press release contains “forward-looking statements” that are not purely historical and may include statements of beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend, “believe”, “estimate”, “expect”, “project”. ”, “plan” or similar phrases may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those projected in any forward-looking statements due to a number of factors. Such factors include, but are not limited to, the inherent uncertainty associated with new projects, the future of the US and global economies, the impact of competition and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero-trust products. These forward-looking statements are made as of the date of this press release, and we undertake no obligation to update the forward-looking statements, or to update the reasons why actual results may differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, no assurance can be given that such beliefs, plans, expectations or intentions will prove to be accurate.
CONTACT: Laura Patterson, [email protected] Toney Jennings, [email protected]
