The Bitfury Group Announces Healthcare Research Collaboration with Medical AI Company

Bitfury and Insilico Medicine, Inc. partner to develop AI healthcare Blockchain solutions

Amsterdam, The Netherlands — August 11, 2017 — The Bitfury Group, the world’s leading full-service blockchain technology company, announced today a collaborative agreement with Insilico Medicine, Inc., a Baltimore-based Artificial Intelligence (AI) and bioinformatics company, to develop novel solutions for healthcare applications using Blockchain technology.

The two companies signed a memorandum of understanding (MOU) to collaborate in academic and commercial settings to develop solutions that could revolutionize the healthcare industry. With the healthcare industry and the future of data collection ripe for innovation, Bitfury and Insilico are collaborating to study and develop blockchain and AI solutions for sharing, managing, tracking and validating healthcare data.

“Blockchain can secure and streamline our medical systems, while AI has the potential to revitalize data management and machine learning to help identify trends and diseases,” said Valery Vavilov, founder and CEO of The Bitfury Group. “By partnering with Insilico, we will be able to combine their expertise in deep learning and bioinformatics with our Blockchain proficiency and real-time solutions to create bespoke and innovative new products for the healthcare sector.”

“Bitfury is one of the most reputable Blockchain companies, developing their own end-to-end Blockchain solutions trusted by the major corporations and governments worldwide,” said Alex Zhavoroknov, PhD., founder and CEO of Insilico Medicine, Inc. “We are happy to enter into a research collaboration with Bitfury to develop innovative solutions that could save lives and extend the human lifespan.”

ABOUT BLOCKCHAIN AND AI

Recent advances in AI have surpassed human accuracy in image and voice recognition and are transforming multiple industries, including manufacturing, transportation, finance and entertainment. However, the use of AI in the healthcare industry has been comparatively slower, as deep learning systems need a large number of examples to learn from and can require up to tens of millions of data sets to achieve a high level of accuracy.

Blockchain has the potential to track and validate large amounts of healthcare data in a secure and efficient ways opening the door to the necessary solutions to effectively organize data for deep learning systems. The Bitfury and Insilico Medicine partnership will explore the ways Blockchain can be used to accelerate progress in biomedicine and deliver innovative healthcare solutions to people around the world.

About The Bitfury Group

The Bitfury Group is the leading full service Blockchain technology company and one of the largest private infrastructure providers in the Blockchain ecosystem. The Bitfury Group develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the Blockchain. The expertise of The Bitfury Group ensures successful, easy, fast, secure and cost effective connectivity to the Blockchain. The Bitfury Group is a global team of experts in technology, business, communications, security and civil society. The Bitfury Group believes the Blockchain can and will open new doors for global economic opportunity and prosperity, and its mission is to create and advance Blockchain applications that will further promote innovation and the advancement of the peer-to peer economy. Visit bitfury.com for more information

About Insilico Medicine, Inc

Insilico Medicine, Inc. is an artificial intelligence and bioinformatics company located at the Emerging Technology Centers at the Johns Hopkins University Eastern campus in Baltimore with R&D resources in Belgium, Russia, and the UK hiring talent through hackathons and competitions. It utilizes advances in genomics, big data analysis and deep learning for in silico drug discovery and drug repurposing for aging and age-related diseases. The company pursues internal drug discovery programs in cancer, Parkinson’s, Alzheimer’s, ALS, diabetes, sarcopenia and geroprotector discovery. Through its Pharma.AI division, the company provides advanced machine learning services to biotechnology, pharmaceutical, and skin care companies. Brief company video: https://www.youtube.com/watch?v=l62jlwgL3v8

FOR MORE INFORMATION CONTACT:

Rachel Pipan

Rachel.Pipan@bitfury.com