US Navy to Utilize Blockchain Technology

The US Navy has signed a contract with Consensus Network for $1.5m to develop a logistics network utilizing blockchain. The project is called HealthNet and commenced back in May.

Many different projects and blockchains have been working with the United States military and Department of Defense. The US military has continued to explore blockchain technology and its role in reducing fraud, waste and improving services.

This project has been launched on IoTex, and has a release date in 2022. IoTex was chosen due to its ability to scale and handle a project of such size. Consensus Network has stated that over 700,000 sailors and marines will utilize this platform.

The military healthcare systems are extremely archaic. The US Navy aims to use HealthNet to bolster its backend networks and bring better care to its troops. This new platform is designed to update medical logistics, pharmaceuticals, analysis and prediction of blood product needs, and supply of prostheses and medical equipment.

The Consensus Network CEO, Nathan Miller, stated that it is “pathetic” that automobile manufacturers have systems that can predict the health of their vehicles while US Navy healthcare systems cannot do the same for its members. 

Healthcare is a prime use case for blockchain. The distributed ledger technology offers a unique way to interpolate healthcare systems and brings cheaper and more efficient care. Many countries and organizations have already adopted blockchain in different ways. Recently, Doctors Without Borders adopted blockchain for immunization records.

HealthNet claims it is more than a military application. The platform can be used by many healthcare providers and caregivers for more efficient care. Nathan Miller states that there are many sectors of healthcare that can benefit from a network that gives better predictions and recommendations for health-related issues. 

HealthNet is said to be 50% complete and will be up and running by mid to late 2022. Who knows how many businesses or governments will adopt this platform by the time it is finished. Products like this are fantastic for cryptocurrency legitimacy and prove the real-world adoption that blockchain has to offer.

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Updated: 11/24/2021 — 19:00