Lancor Scientific has developed a device that can easily detect cancer of multiple types and can store the result of screenings on a blockchain network through Smart Contracts. To further facilitate the project, the govt of Austria is going to lend 5-year developmental support to Lancor Scientific who is soon planning to open a research laboratory for the same in the city of Graz.
The screening tool was released in October and has AI (Artificial Intelligence) technology integrated with it. According to Lancor Scientific, the tool will aim to achieve 90% accuracy in the future. Through this tool, Lancor will further work on International projects with universities such as the Technical University of Graz, the Medical University of Graz, and the Sigmund Freud University Vienna.
According to Margarete Schramböck, minister of foreign affairs of Austria has opined Blockchain as the next-gen technology, just like AI and Speech Recognition, that the Austria government wants to highlight during its upcoming election.
The press release also states that the government is going to grant a full developmental support for five years to Lancor Scientific in terms of facilities, research equipment, access to academic expertise and clinical trials management. Austria is lending its full support to Blockchain and Cryptocurrency since the beginning. This can be easily referred from the opening of a Cryptocurrency Bank in Vienna in 2017.