Boston IVF has partnered with the Bitcoin-based genetic data monitoring system Eggschain. The partnership will use blockchain technology in IVF-related processes and also in preservation of genetic data.
The new alliance will rely on Eggschain’s blockchain technology to track cryogenically frozen sperm for use in IVF and other fertility and non-fertility treatments, as well as long-term genetic data preservation. According to an Eggschain spokesman,
“Using the blockchain to track biospecimens such as sperm and eggs empowers individuals facing reproductive issues. This pivotal partnership enables greater confidence through the transparency and immutability of the data.”
About Boston IVF
Boston IVF is a chain of fertility clinics that specializes in IVF, genetic data storage, and endocrinology. It was founded in 1986. So far, the clinics are said to have assisted in the delivery of over 100,000 newborns. Through its authorized REI Fellowship Program, the chain has also graduated more than 30 reproductive endocrinologists.
Boston IVF CEO David L. Stern expects that using blockchain technology in the company’s processes will improve the customer experience by providing “unrivalled transparency and security.”
Austin-based Eggschain is a healthcare technology firm that is developing a blockchain-based supply chain solution for the reproductive market based on Bitcoin layer-two Stacks. It manages the genome, stem cells, DNA, RNA, organs, tissues, blood, and IVF-related security through a custody management system.
By registering data on its platform, it claims to minimize the time in the sperm selection process across worldwide jurisdictions, safeguard high-level patient data, avoid data misfiling, and boost the transparency of overall operations.
Eggschain has partnered with Boston IVF to enter the $21.89 billion worldwide IVF market, which is expected to grow to approximately $34 billion by 2028, according to Grand View Research.
CURE Chain and Aimedis, which use nonfungible tokens to enable patients maintain data and even offer crypto prizes for adding to their profile, have benefited from blockchain technology in the healthcare industry.