Toda.Network Corp. the organization created to foster the growing ecosystem of blockchain companies built on the TODA protocol, is announcing a joint venture with Bear Health Technologies. The joint venture is called Records.OT Corp. (Records “On TODA” or “OT”).
Bear Health Technologies is a Health IT company based in Guelph, Ontario, that aims to revolutionize how personal medical information is accessed, stored, and utilized around the world by combining artificial intelligence (AI), big data, and mobile applications.
“There is a gap in the market today – and especially in healthcare, where data exists in silos that are not easily accessible. Your physician, a clinic, and the hospital do not have access to the same data – and even you are not able to access or control all of your own data. The status quo is not as secure as it should be and actually presents a lost opportunity – because without a complete picture of your health, it is near impossible to deliver the highest standard of care,” said Connor Atchison, project lead and founder of Records.OT.
According to the British Medical Journal the third leading cause of preventable death is from medical error, which is often the result of the improper use of medical information (medical records), which can lead to a failed or inappropriate medical procedure or care plan.
“Maintaining and accessing your personal records can certainly be centralized and no need for blockchain to operate it, however it requires trust in a centralized entity globally. This may work in a regional settings but not global, Records.OT enables any records management for anything, including health applications that can be built on top of it to become user centric,” said Toufi Saliba, Co-Author of the TODA Protocol and CEO of Toda.Network.
The TODA Protocol is a network protocol referred to as the base layer for value management and exchange in a decentralized setting. Which means that in a network topology, TODA serves as layer three and four combined, similar to TCP/IP. This foundation enables blockchains and applications using blockchains to be secure first by design, and efficiently and confidentially scale to billions of users and handle millions of on-chain transactions per second in a complete decentralized setting.
“Building on TODA made complete sense; individual records are both incredibly personal and incredibly important. Records.OT will mean that you don’t have to store such vital information in your wallet anymore, while at the same time your data can still be owned and controlled by you. It will speed up how we transact, how we exchange, how we use every piece of information – that impact alone is huge,” added Atchison.
The entire round of financing for Records.OT was raised in a single effort, during a demo on Toda.Day on May 21, where 11 companies showcased their products built on TODA.