Friday, March 1, 2024

MSP Recovery joins forces with Tokenology to release tokenized healthcare initiative



MSP Recovery LLC, a healthcare restoration agency primarily based in Miami, United States and valued within the area of $32.6 billion, has introduced a collaborative partnership with Web3 resolution Tokenology to launch a fraud-prevention blockchain platform, titled Lifechain.

Lifechain will search to make the most of the verifiable and clear nature of blockchain know-how to improve the accessibility of healthcare prices, claims and medical data for sufferers and trade professionals.

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MSP Recovery’s shopper utility LifeWallet — which launched in January this 12 months and has since registered over 1 million customers, in accordance to current knowledge — will home the know-how alongside a tokenized resolution LifeCoin.

The press release supplied better context into the size of the duty throughout the healthcare trade; notably, working within the subject of reimbursing secondary medical insurance coverage funds.

“The large variety of every day medical claims being tokenized is anticipated to surpass 50 million/day by 2024, requiring the sort of scale, safety and sustainability that solely Polygon can ship.”

MSP Recovery grew to become a publicly tradable firm in mid-2021 following the acquisition of Lionheart Acquisition Corp II and operates on the Nasdaq underneath the ticker image MSPR.

The co-founder of Polygon (MATIC), Sandeep Nailwa, shared his evaluation of the partnership, stating that the mission is “actually impactful” and “a testomony to the evolution of enterprising new options that builders like Tokenology are constructing utilizing Polygon know-how. ”