In the blockchain news of today, the city of Graz and the government of Austria expressed their support to a UK cancer research company that will use the blockchain technology to detect cancer cells.
Lancor Scientific has already created a device that can detect different cancer types and record screening results with smart contracts and they will soon open a laboratory in Graz. The cancer screening tool was first introduced in October and the tool is using artificial intelligence with 90 percent accuracy.
Lancor will work with Austrian universities including the Technical University of Graz and the Medical University of Graz. Also, the Austrian minister of foreign affairs Margarete Schramböck noted that the interest in the blockchain technology is growing immensely in the country.
“Blockchain is definitely one of the new important technologies. In addition to Artificial Intelligence and Speech Recognition, it is one of the big issues we want to highlight in the coming period of the EU Presidency.”
The Austrian government will provide Lancor with grants over a 5-year period for research equipment, clinical trials, facilities and more.
Graz is not the only city in Austria with high blockchain interest. Vienna, the capital, is trying to stimulate blockchain innovation by opening a cryptocurrency bank last year. The country, in general, is open to negotiations regarding crypto legislation.
The government also issued $1.35 billion in bonds on the Ethereum blockchain in September 2018.
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