Blockchain university hackathon ideas
The event extended blockchain university hackathon ideas three days with speakers including: The Current State of Clinical Trials. Randomized Clinical Trials are at the core of our blockchain university hackathon ideas healthcare system and the backbone of the pharmaceutical research and development industry. However, the current design and the operational organization of clinical trials are increasingly convoluted and a bottleneck for innovation in healthcare and life sciences.
Today, the planning and the execution of randomized clinical trials costs millions of pounds and takes years to complete.
This might hamper the timely release of potentially effective therapies to the patients who needed the most. Moreover, despite the increasing expenditure in blockchain university hackathon ideas development of clinical trials, the number of new drugs and other medical treatments approved is abysmal.
The success rate of a drug from the first phase of a clinical trial to approval is around 9. It also goes without saying that clinical trials blockchain university hackathon ideas only blockchain university hackathon ideas in supporting medical practice if they are published. These results reflect the challenges facing healthcare to support innovation and discovery, and to evaluate existing therapies; which has raised many concerns among the scientific community that the current model of clinical trials is excessively complex, expensive, inadequate, and opaque.
Blockchain and Distributed Ledger Technology: In the course of the last few years, Blockchain and Distributed Ledger Technologies DLTs have gained mainstream attention in healthcare. DLTs being the foundation the new digital economy — primarily cryptocurrencies such as Bitcoin and Ethereum — are today proposed as the catalyst of the next digital transformation in healthcare and life sciences.
Proponents promise to revolutionize Healthcare by using Blockchain to enable interoperability by design and to replace third-parties and middlemen through a distributed untampered and transparent computer programmes. Most of the current implementation are focused on the technological aspects of DLTs i.
The Hackathon Over two days, students, engineers, entrepreneurs from Imperial College, London and other cities several students from Birmingham spent hours working on developing prototypes and developing business cases for Blockchain technology to increase efficiency and transparency of Clinical Trials.
The main highlights of these introspection efforts during the hackathon: CROs are private organizations that act as out-sourcing agencies to pharmaceutical companies.
The two finalists proposed using distributed ledger technology to operate all the transactions necessary between the pharmaceutical companies the sponsor and the clinical trial sites using Blockchain. We are very grateful to our partners and colleagues who have kindly attended the pitch event.
We would like to thank: The Imperial College Centre for Cryptocurrency Research and Engineering IC3RE was founded in with the goal of focusing research efforts into Blockchain and distributed ledger technology at Imperial College London, blockchain university hackathon ideas training up the next generation of developers, scientists and entrepreneurs in this new area.
Please feel free to contact me: The Current State of Clinical Trials Randomized Clinical Trials are at the core of our modern healthcare system and the backbone of the pharmaceutical research and development industry.