This company is utilizing Bitcoin’s (CRYPTO: BTC) blockchain in helping keep track of unique and personal human biospecimens like sperm, eggs, embryos, tissues, and organs.
Precious Belongings, Precious Coin: “I like to think that our genetic material is our legacy, and should transcend lifetimes,” said Wei Escala, founder and CEO of Eggschain.
As per Escala, preservations of biospecimens needed a decentralized approach because even though the current methodologies of record-keeping involve diligence, centralized records suffer from a weakness.
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“Data history may be lost or temporarily inaccessible, at times due to malicious outside forces.”
Eggschain, a healthcare technology startup whose operations span across technology, reproductive medicine, and scientific research, turned to blockchain, specifically Bitcoin’s network to eliminate risks posed by centralization.
“Using blockchain to store encrypted transaction records provides an audit trail of key events. This history is immutable and cannot be altered. This new supply chain solution aims to provide a universal tracing and tracking platform to deliver peace of mind for people, families undergoing IVF [In vitro fertilization] and the professionals who are serving them,” said Escala.
But — Why Bitcoin? Bitcoin isn’t really the cryptocurrency that is discussed in context with smart contracts or decentralized applications or DApps; so — why opt for Bitcoin?
“Building on Bitcoin was very appealing to me because it is the oldest and most battle-tested blockchain in existence, likely to exist beyond our lifetimes,” the entrepreneur told Benzinga.
Eggschain opted to build on Bitcoin through Stacks (CRYPTO: STX), a blockchain that enables smart contracts and …