Blockchain For Impact (BFI), a healthcare fund established during the second wave of the COVID-19 pandemic in India, is working with the United Nations Children’s Fund (UNICEF) to strengthen public health practices.
The alliance, operating within BFI’s India District Full Stack Fund (IDFS) vertical, aims to promote public health services and collaborative problem solving.
Under the partnership, $2.1 million will be reprogrammed to align with two projects, Blockchain for Impact said in a LinkedIn post.
The first project, reportedly an allocation of $900,000, is expected to strengthen the State Health Resource Center in the northeastern state of Meghalaya to build capacity to solve complex public health challenges.
The second project, with an allocation of USD 1.2 million, is a pan-India health and climate resilience grant that is expected to build the capacity of state and ground partners in as many as seven states in devising local solutions using of human-centered design principles.
“By harnessing the power of human-centered design principles and grassroots-driven solutions, we are embarking on a transformative journey to reshape the public health landscape,” BFI said in a LinkedIn post.
The BFI has been actively working with leading Indian institutions to promote healthcare in the world’s most populous country.
It recently allocated more than $150,000 over three years to develop programs for healthcare-focused startups at the Indian Institute of Technology Kanpur (IITK), a premier institute known for the highest level of education in science and engineering. The collaboration aims to develop solutions that address critical gaps in India’s healthcare sector.
BFI has also earmarked $900,000 over three years for the Indian Institute of Technology Bombay, a leading engineering and research institute, to accelerate biomedical research across India. It recently collaborated with the Indian Institute of Science (IISc) to support selected research projects in life sciences of the IISc faculty.
The Indian healthcare sector is at the forefront of technological advancements to improve patient care while improving operations and data security. However, processing patient data safely and efficiently remains a challenge. Blockchain technology provides a secure platform for data management and has the potential to revolutionize healthcare by creating a transparent and immutable ledger that prevents security breaches.
The use of blockchain technology can also enable the exchange of data between pharmaceutical companies and researchers, aiding the discovery of new therapies and treatments.
According to a report by PwC, the Bengal Chamber and Medica Hospitals: “Globally, healthcare organizations have begun to reap the benefits of blockchain technology in terms of its various applications, such as health data management, health information exchange, provider credentialing and accreditation. and pharmaceutical supply chain management.”
“[The] The adoption of blockchain technology by the Indian healthcare sector will happen over a period of time as the effectiveness and sustainability of each use case is currently being researched and developed. At the same time, healthcare organizations should undertake necessary planning activities before entering into blockchain-based partnerships and programs,” the report said.
Watch: Exploring Blockchain Use Cases in India
