Blockchain pharmaceutical technology company BlockMedx and CryptoCurve said Wednesday they are working together: Those using BlockMedx’s mobile application will be able to use CrytoCurve’s wallet services.
“CryptoCurve has all the features we’re looking for in a wallet and we are excited to make those available to our users,” BlockMedx CEO Michael Brunner said in a press release.
BlockMedx is the first application to use CryptoCurve’s wallet features. “Our mission is to increase adoption of blockchain technology,” said CryptoCurve CEO Josh Halferty. “One of the critical ways for us to do that is to support new, innovative applications like BlockMedx, and providing wallet integration services is a big part of that strategy.”
BlockMedx allows physicians and other health care providers to securely transmit drug prescriptions, including opioid pain relievers, to pharmacies via the blockchain, and get paid for doing so with BlockMedx’ MDX token. The company meshes an EPCS (electronically prescribing of controlled substances) compliant software platform with an analytics-based, drug monitoring program to uncover prescription fraud and abuse.
The pharmaceutical and health care industries have been looking at blockchain technology as a way to improve the tracking and dispensing of medication, especially opioids. The Council of Economic Advisors estimates that in 2015 alone the opioid crisis had an economic cost of over $500 billion, or nearly 3 percent of GDP.