According to an official announcement,Verida has just announced a strategic partnership with an industry-leading global healthcare fintech company, MAPay, to redefine the healthcare sector by providing cutting-edge decentralized health technology, the first of its kind in Bermuda, leveraging the Algorand blockchain.
How Verida and MaPay partnership will work
In close collaboration with Verida, MAPay is set to establish novel healthcare solutions that will be accessible to individuals from all walks of life irrespective of their locality. The partnership is aimed at developing greater open, secure, and user-centric health services using decentralized Web3 technologies.
MAPay, with global headquarters in Hamilton, is pleased to build its healthcare solutions in conjunction with Verida, and according to the team, this teamwork is geared towards providing decentralized identity, trusted storage, private data ownership, decentralized messaging, and connectivity to the Algorand blockchain.
Developing Novel And Innovative Healthcare Technology Solutions
MAPay is dedicated to developing novel technology solutions in Bermuda for medical care providers and patients to experience a whole new healthcare sector. The technological advancement proposed by MAPay will bring about seamless health provider credentialing services, patient health data solutions, and healthcare payments.
Verida will contribute immensely to this vision by complementing MAPay technology and providing connectivity to Algorand as the blockchain of choice for smart contracts and stable coin payments.
With decentralized technology as its core and identity, MAPay’s solution, in line with the competence of Verida’s firm structure, is prepared to bring out the best of a decentralized system in the industry of health care.
This innovative concept will make it possible for every stakeholder on the network, within the commerce facet of the medical sector, including but not limited to governments, insurance companies, healthcare providers, and patients, to create their own unique and distinct value proposition from the MAPay Network as a Service. It will deliver a generally accepted share of healthcare data across healthcare providers that will appeal to everyone on board, with a mobile “Vault” that secures PHI. The Vault will connect with existing, legacy healthcare software, enabling patients to send or request data, payment for services, and provide support services.
Michael Dershem, aka Dersh, founder and CEO of MAPay, expressed his excitement:
“This ‘digital highway’ we are creating will allow for other DeFi applications to ride on our rails, allowing both human and capital resources to be deployed much more efficiently and economically, ultimately accelerating these game-changing models”.
Verida co-founder and CEO, Chris Were, says the partnership will bode well for the blockchain space and Bermudan healthcare sector.
“We are very excited to be working and building with Dersh The and the team at MAPay to bring decentralized health management to residents of Bermuda supported by the capabilities offered through Verida’s data protocol”.
This project, leveraging blockchain technology, seeks to improve and align incentives, lower costs, and bring increased transparency and data exchange to the healthcare system.
A new dawn for the Bermuda Healthcare Sector
With two problem-solving companies partnering to lead a new wave of healthcare solutions leveraging the decentralized blockchain and Web3 technologies, the Bermuda healthcare sector is set for a revolution. The partnership between Verida and MAPay is reimagining healthcare systems in Bermuda to spearhead the new dawn of game-changing solutions that every individual will appreciate.
Verida and MAPay have a shared vision for providing greater open, secure and user-centric health services using decentralized Web3 technologies.
MAPay as a global healthcare fintech company together with Verida’ entry point for end-users to manage their identity, sign in to apps, manage their data, send and receive messages and manage blockchain transactions tokens, is deploying distributed ledger technology to power smart contracts, and transacting secure medical solutions in Bermuda.