Bitcoin Meet Steve Papermaster – The Man Revolutionizing Healthcare Using Bitcoin Published 1 year ago on 14th February 2018 By Amy Tori Blockchain technology is a hot topic that many are predicting will revolutionize numerous industries, if not the entire world. Simply put, blockchain is a digital ledger that chronologically and securely stores transactions and can be accessed by the public; because it is decentralized, blockchain technology has a lot of potential to be applied in many different situations and capacities. It is already in process of being applied across multiple industries, including banking, supply chain management, cyber security, insurance, real estate, transportation, charity and nonprofit, and many more. And one man, Steve Papermaster, is using it to revolutionize health. Papermaster has over 30 years’ experience as a technology entrepreneur, public policy expert, global speaker, and noted author. He has served in numerous entrepreneurial leadership positions, including founder, chairman, CEO, and board membership; one of his biggest roles has been as an appointed senior advisor on domestic and global strategy for innovation, technology, and science during the George W. Bush administration. Over the years, he has played key roles in companies like Powershift Group, JUCCCE (Joint US China Collaboration on Clean Energy), Moxie Software, Inc., Appconomy, and his latest venture, Nano Global. He still actively speaks on topics of entrepreneurship, technology, science, and public policy at events including the World Economic Forum-Innovation, Fortune Magazine’s Brainstorm Conference, GigaOM, McKinsey Global Forum, and others. For his work and innovation, Papermaster won the prestigious Ernst & Young Entrepreneur of the Year award and has had many other honors. His diverse and distinguished experience serving in various positions and working with multiple international companies and organizations has given Papermaster the opportunity to see first-hand some of the biggest problems we face on a global scale and work with technology to try to solve them. His background and experience, combined with the promise and potential of blockchain, led him where he is today – revolutionizing health as we know it through his company, Nano Global. One of the biggest issues in health right now is that we spend between five and ten trillion dollars on healthcare each year, including administrative costs; of that five to ten trillion, forty billion dollars is spent on clinical trials, most of which result in failure and fail to produce new, effective treatment options. That’s not the only issue, though. According to Papermaster and Nano Global: “Today, the model driving scientific advancement is broken. Trillions of dollars are spent globally with sporadic successes. Critical data is siloed in individual institutions and governments around the world when it should be widely shared and improved upon for collective progress. Without access to common data sets, we don’t have all of the puzzle pieces we need to solve the complexities of the problems we face — problems such as a cure for cancer or a solution for superbugs. Governments and institutions determine scientific priorities by representing the primary source of funding for research and discovery.” Having the funding for research and the information from relevant studies stored centrally, within the control of only a few, seems to be holding us back from making real progress when it comes to health. There are scientists and “citizen-scientists,” as Nano Global likes to call them, all around the world who just might be able to solve some of the biggest health issues we face, if they were only given the chance. Papermaster’s goal — and the purpose behind Nano Global’s developing technology — is to give everyone in the world that chance to contribute. Papermaster and Nano Global are using blockchain technology to decentralize information and funds and distribute power to the world. Because blockchain can be shared with the public, scientists, citizen-scientists, and virtually everyone will have access to real-time data and discoveries they can use to fuel their own innovation. They can then share the information they uncover to help another make progress on their research, which will speed up the process of discovery and remove borders, potentially allowing us to solve the grand challenges of human and environmental health. Their intention is to have their token live between governments and institutions instead of within them, which would enhance speed, efficiency, and discovery. Papermaster and Nano Global’s technology will revolutionize health by aggregating research-based molecular data, providing real-time collection of real-world molecular data, interpreting and advancing the exposition of said data through artificial intelligence and machine learning systems, and including everyone on a global scale — from the sick to the scientists. Although there are many different uses for blockchain, and the technology holds a lot of potential to change numerous industries, Steve Papermaster has perhaps put it to its best use, revolutionizing health and working on making the world a better place. Do you agree? What are some of the biggest changes you think we’ll see right away? 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