Clinical research organisations (CRO) and sponsors who sign up for ClinicalStudio.EU will be able to use a blockchain to launch Smartillions smart contracts to manage their Horizon 2020 R&D grant applications and compliance with GDPR, MDR and international clinical trial regulations.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180517006404/en/
Paul Grady, CEO of ClinicalStudio.EU. (Photo: Business Wire)
ClinicalStudio.EU will allow clients to outsource their regulatory and data protection compliance to a blockchain that is governed by the International Organisation for Medical Data Compliance (IOMDC), which sets global security standards for the management of medical data on IOMDC-certified blockchains.
"The integration of Smartillions smart contracts will enable our clients to delegate GDPR and related regulatory compliance to IOMDC because they will no longer hold any patient data on their servers," says Paul Grady, CEO of ClinicalStudio.EU. "Instead, consumers consent to have their data managed by an IOMDC blockchain that gives them complete control over how their data is used."
ClinicalStudio.EU will also allow clients to use compliance smart contracts that standardise regulatory processes in order to significantly reduce their compliance cost. For this purpose, ClinicalStudio.EU will integrate country-specific regulations as well so clients can ultimately use one solution worldwide.
The team behind ClinicalStudio.EU dedicated more than four years to develop a suite of technology tools that radically cut the cost of research. By lowering the cost of research for scientific, medical, and academic communities, the high prices associated with healthcare can be reduced, ensuring more people benefit from new and improved medical discoveries.
For more information, visit www.clinicalstudio.eu.
About Smartillions and the International Organisation for Medical Data Compliance (IOMDC)
Smartillions creates industry standards for Clinical Smart Contracts. It also strives to create new career opportunities through education and initiatives that ultimately benefit society and lead to improved health and more effective treatments for every patient.
The International Organisation for Medical Data Compliance (IOMDC) connects physicians and patients with clinical research organisations to achieve one goal: assuring the highest quality clinical research worldwide. IOMDC initiated an immutable blockchain to manage medical data in an effort to securely share select information.
For more information, visit www.smartillions.ch.
Copyright Business Wire 2018