Improving Clinical Trials with Certainty | Blockchain Australia

Certainty is working with Blockchain Australia Solutions to streamline the medical research industry using breakthrough blockchain technology.

Business Profile

“Our mission is to bridge the vital link between research breakthroughs and their commercial application in the fields of medicine, devices and therapies—with Certainty.”

Certainty is a software platform that transforms the clinical trials process, developing it into an ecosystem of connected stakeholders and unified workflows. It’s time to pay attention to blockchain and its ability to change the world; this organisation is giving vital medical research organisations the power to break down barriers and improve their chances of successful (and potentially life-saving) product development.

Business Scenario

Reproducibility, data protection and patient enrollment are just some of the major concerns in the clinical trials industry – leading to roadblocks in the development of new medical solutions. Lately, blockchain is attracting the attention of the entire clinical research community that wants to combat inefficiencies in trial methodology and the ever-rising costs that are currently known to double every 3 years.

Traditionally, the route to creating and releasing a safe, effective medical product was slow. It involved manual data processing, a complete absence of real-time data, struggles to meet regulatory compliance and complicated workflows. Clearly, something needed to change.

According to a report by Ground View Research, Inc., the global clinical trials market is anticipated to reach 69.9 billion USD by 2027. As the volume and complexity of clinical trials rises, big pharmaceuticals and smaller research centres are searching for ways to innovate – to improve trial outcomes and decrease costs.

Certainty plans to provide the market’s missing piece. In response to the current inefficiencies that have plagued trials for decades, blockchain technology is the solution that affords more transparency, more confidence and lower costs throughout.

The Solution

Working in conjunction with Blockchain Australia Solutions, Swinburne University and Inversion Health Innovation Research, Certainty aims to resolve the major challenges facing the contemporary medical industry and the donors that fund it.

The advanced solution focuses on four key areas:

Patient enrolments

Data sharing and personal privacy

Trial methodology

Cost increases

By using a novel combination of established technologies to create an immutable record of all trial activity, Certainty adds a vital layer of verifiable transparency. That means instilling confidence in stakeholders, regulators and the public.

Innovation is the real difference here, with automated granular reporting supporting at every stage of the project lifecycle. All patient, trial and results data is stored on the blockchain – making it verifiable and tamper-proof.

The Process

Patients interested in clinical trials are given a unique token, making processes automatic and moving away from email.
No manual intervention is required; data is stored on the blockchain and is available instantly. The potential for skewed data and human error is eliminated.

Patients receive royalties based on the sales of medicines.

If a future researcher wants access to patient’s data for a later trial, they have to request permission. Again, patients are paid royalties based on sales of this trial.

Key Features

  • Transparent activity
  • Decentralised system
  • Streamlined processes to execute and fund clinical trials
  • Public chain to eliminate manipulation
  • Automatic transfer of funds
  • Patient data is secure

Business Benefits

  • Manual processing and email communication is replaced with automatic transactions.
  • Researchers and data managers have access to real-time clinical trial data.
  • Risk of manipulated trial outcomes or compromised regulatory compliance is eliminated.
  • Major stakeholders are connected by one decentralised platform, streamlining workflowsand enhancing efficiency.
  • Costs are reduced and researchers have access to modern-day, innovative technologies.

Who will Certainty benefit?

Certainty aims to connect stakeholders involved in clinical trials, delivering previously unseen benefits to individuals and organisations including.

  • Patients
  • Researchers
  • Clinical data managers
  • Global medical industry
  • Sponsors
  • Regulatory bodies

About Blockchain Australia Solutions

Blockchain Australia Solutions is a technology company that provides consulting and enterprise solutions built on blockchain platforms for corporate, enterprise and ASX businesses. Founded in 2017 as an early advocate and pioneer for the technology, we currently have offices across 4 Australian states, with over 5 years of blockchain experience.

We help clients develop an idea into a fully functional product. By requesting a proof of concept (PoC), you can validate whether the chosen architecture serves your business needs, identify weaker aspects and find ways to improve them. With a proof of value (PoV), you can gain an understanding about whether blockchain is the right fit for your business, estimate risks and predict ROI. To get early feedback from end users and prove feasibility and relevance in the market, we’ll start by developing a minimum viable product (MVP) for you.

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