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Drug Discovery Platform Verseon Launches Blockchain-Based Securities Exchange

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Pharmaceutical companies could soon use blockchain for securities trading, Verseon predicts.

U.S. pharmaceutical company Verseon has become the latest medical organization to experiment in blockchain technology, it confirmed in a press release Tuesday, September 18.

Verseon’s main product is its proprietary physics-based drug discovery platform. The company was established in 2002 and it now trades on the London Stock Exchange, boasting a market cap of £211 million ($277 million).

Part of a growing trend among major pharmaceutical players to leverage blockchain’s data and security benefits, the company’s subsidiary BlockRules will facilitate what it describes as technology which “supports the sale, launch, and trading of securities on a public blockchain.

This, the release explains, “permits fully regulated, secure, and transparent support of securities, including decentralized tradingand will assist other pharmaceuticals players to overhaul their funding and development strategy.

“By democratizing investment access with blockchain technology, we will change the way new medicines and other life-science innovations are funded and how the resulting proceeds are shared,” Verseon CEO Adityo Prakash commented.

The move marks a continuation of the innovation which is ongoing in the wider health industry this year.

As Cointelegraph reported, multiple actors have identified blockchain’s ability to safeguard previously costly and inefficient processes such as supply chains and ensuring drugs are not tampered with.

Individual setups are also appearing beyond big business, such as in Taiwan, where earlier this month one hospital debuted a blockchain record-keeping system for sensitive patient data.

Hem Krypto nyheter Tim Draper Predicts Total Crypto Market Cap of $80 Trillion in Next 15 År
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Tim Draper Predicts Total Crypto Market Cap of $80 Trillion in Next 15 År
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Tim Draper Predicts Total Crypto Market Cap of $80 Trillion in Next 15 År

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Billionaire investor Tim Draper has forecasted that total crypto market capitalization will reach $80 trillion in the next 15 år.

Venture capital investor Tim Draper has predicted that total cryptocurrency market capitalization will hit $80 trillion in the next 15 år, news outlet DealStreetAsia reported September 14.

Speaking at the DealStreetAsia PE-VC Summit 2018 in Singapore, Draper argued that the significant slide in the cryptocurrency market in recent months is attributed to people who have not adopted digital currencies as a new asset class. Draper stated that once people become more familiar with the technology, it would transform many important industries globally:

“I think it’s going to have such a transformative effect on industries that we never even imagined would be transformable. The internet went after industries that were $10–100 billion dollar markets, cryptocurrency will go after trillion dollar marketsthese are finance, healthcare and insurance, banking and investment banking, and governments.”

In January 2018, Barron’s reported that the Russell 3000 Indexwhich accounts for 98.5 percent of the entire U.S. stock marketwas worth $30 trillion. The “staggeringamount of money followed a successful year in 2017, in which the market experienced 22 percent returns.

Draper also compared the current state of the crypto market with the early days of Internet, saying:

“The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here (with Bitcoin).”

Brian Kelly of CNBC’s Fast Money compared cryptocurrency to the “Internet in the 1980sas well, pointing out that Bitcoin (BTC) is still in its early stages. Kelly asserted that while he used to see crypto as comparable to the Internet in 1995, he now understands that a better comparison is further back. He added:

“I think this technology is going to work, it’s going to be game changing, but it’s very early days, so we can have this massive volatility.

At press time, total crypto market capitalization is around $202 billion, according to CoinMarketCap.

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