The Pistoia Alliance, a global not-for-profit company working in life sciences R&D, has announced the launch of the next phase in its ongoing blockchain project. The next phase includes a workshop on 12 March 2019 open to both members and non-members which will look to develop several potential use cases to the proof-of-concept stage. It will also identify which blockchain applications have no industry value.

A study conducted recently by the Pistoia Alliance found that the biggest barriers to take-up of blockchain technology in industry was access to skilled personnel, and that blockchain is too difficult to understand. A fifth of those questions believed blockchain added no further value than any other traditional database.

In the workshop, members will look to examine three areas of life science R&D where blockchain can make a significant improvement: data identity, data integrity and data sharing.

Jake Dreier, Blockchain Project Manager and Consultant for The Pistoia Alliance, said that there were still a number of misconceptions surrounding the technology which must be overcome: “Unfortunately, people’s perceptions have led to some organisations completely avoiding blockchain technology, and many others unsure of how it can benefit them. This is why The Pistoia Alliance is supporting a collaborative effort to help the industry get the most out of the technology.

“We want companies to come together to workshop their issues and ideas to decide where blockchain can provide a viable solution. We’re not trying to shoehorn a blockchain solution into every industry problem, but rather working to support its development where the technology truly adds value to the industry and ultimately, to patients’ care.”

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