The Austrian authorities is supporting a British company Lancor Scientific using blockchain for early cancer diagnosis. The company has developed a device for detecting multiple cancer types which records screening results with smart contracts on blockchain. There are plans to open Lancor Scientific’s research laboratory in the city of Graz, the second-largest city in Austria after Vienna.
Released in October, Lancor Scientific cancer screening tool aims for 90% accuracy due to using artificial intelligence (AI). Austrian government will give Lancor Scientific grants over a 5-year period for facilities, “research equipment, access to academic expertise and clinical trials management.”
Lancor will additionally work with local universities including the Technical University of Graz, the Medical University of Graz, and the Sigmund Freud University Vienna on international research projects, the press release states.
The government of Austria is on the path of support of both blockchain and cryptocurrency innovation. The capital, Vienna, has seen various attempts to broaden public awareness of the phenomenon including a “cryptocurrency bank” in 2017.