Factom Inc. awarded two grants by Bill & Melinda Gates Foundation

Factom Inc. has been awarded two grants from the Bill & Melinda Gates Foundation. The first grant of $498,391 was awarded in November 2016 to build a Proof of Concept prototype of a digitized medical record system for individuals living in remote developing areas of the world.

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The technology will provide identity management and improve healthcare information management. The globally distributed records will be accessible anywhere and by any authorized person with biometric verification. Traditionally, keeping medical records has been cumbersome and paper-based. Factom says creating blockchain records makes things more affordable, and protects these records from loss or manipulation.

“The Gates Foundation can use this technology to improve delivery of vaccines, HIV relief efforts, and other diseases by having a tool that is border-less and can follow the patient throughout their life regardless of where they end up in the world,” a spokesperson for Factom told CoinJournal.

Factom received a second grant end of 2017 and said in 2018 that they are now working on training and supporting a company in South Africa to roll-out their prototype.
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