Black-owned health technology company, Teledactyl Blockchain LLC, is officially open for business. Teledactyl is the first healthcare blockchain ecosystem based in the United States. Founding partners, Dr. Seth Crapp and Alan Bottroff, gathered a team of experts to create the personal health record (PHR) blockchain system to securely store and share patient medical records through encrypted transmissions. Teledactyl also incorporates a cryptocurrency feature, where patients with or without third-party insurance are able to use teledactyl tokens (TDCL) in exchange for healthcare services.
Teledactyl’s team announced its initial coin offering (ICO) on Aug. 11, at the 116th Annual National Medical Association’s Convention & Scientific Assembly in Orlando. They also released an easy-to-follow video guide on how to purchase teledactyl tokens.
“We are ecstatic about finally reaching this point in the development of Teledactyl and excited about its future. To be able to launch our company in conjunction with the NMA Convention, amongst colleagues and friends makes it even more significant.” says Crapp. “We will continue to grow and develop our platform and ask all who believe in our mission—‘to transform healthcare by restoring and optimizing the patient-provider relationship’—to buy Teledactyl (TDCL) tokens on the Waves website or mobile platform for use on the Teledactyl blockchain. We aren’t just waiting for the future of healthcare, we’re building it!”
Teledactyl’s securely encrypted blockchain platform is a welcomed addition to the healthcare industry in the wake of recent waves of national medical record breaches. According to Protenus’ 2018 Quarter Two Breach Barometer, more than 3.14 million patient records have been compromised by cyber hackers and unauthorized personnel between April and June. The report also states that the average cost per breached record has increased 6.4 percent or $408 per record since 2017. “Full visibility into how [patient] data is being accessed and used will help organizations secure patient trust while preventing data breaches from having costly consequences for their organization” the report advises.
A white paper released by Teledactyl founders concludes that “based on research and current theory, blockchain technology is the best security solution for storing patient record information.”
To learn more about Teledactyl visit www.teledactyl.com.