Blockchain Cancer Research Gets Support from the Austrian Government

A U.K. cancer research company has received full support from the Austrian government in their cancer research project. They are using blockchain technology to detect cancer as a part of its initiative to endorse and support the technology as confirmed in a November 10, 2018 press release shared with the media.

Lancor Scientific has developed a device that uses smart contracts on blockchain to detect various types of cancer and record all the screening results. The company is set to open a research laboratory in Graz City.

The cancer screening tool, just like the Lymph Node Assistant from Google was released in October 2018 using AI (Artificial Intelligence). The company stated that they aim at recording 90 percent accuracy for all results obtained using the machine.

Once the laboratory is set up, the company will collaborate with local universities on various research projects as confirmed by the press release. Some of the institutions that will cooperate with the company include the Sigmund Freud University Vienna, the Medical University of Graz, and the Technical University of Graz.

Austria’s foreign affairs minister, Margarete Schramb?ck, hinted that blockchain is an area of significant interest at the state level while commenting on the new partnership. She said that blockchain is an important technology that the government wants to highlight in the forthcoming EU Presidency together with Speech Recognition and Artificial Intelligence.

The Austrian Government is set to offer Lancor Scientific grants for operation and maintenance of their facilities over a five-year period. They will be provided with unlimited access to academic expertise, research equipment, and clinical trials management. Austria is renowned for endorsing cryptocurrency and blockchain over the years by remaining open to various experimentations in legislation.

Vienna, the country’s capital, has seen many trials to broaden public awareness of the phenomenon that included a “cryptocurrency bank” in 2017. In the start of November, Germany shifted its stance over Bitcoin enabling a Munich-based casino to ship in the country’s first Bitcoin ATM in many years from Austria.