Ehave, Inc. (OTCQB: EHVVF), a healthcare company dedicated to empowering the mental health community with next-generation digital solutions, today announced that the the Company will expand its informatics solution to include Blockchain Technology. With careful consideration and research into the market needs of mental healthcare and medical cannabis, the Company sees an opportunity to implement Blockchain solutions that are driven from a patient focused strategy, rather than a technology first approach. IDC (Jan 2018) is predicting that global spend on blockchain will reach $2.1 billion in 2018, and that regulator’s positive comments about blockchain will “help accelerate demand in regulated industries such as … healthcare”.
So far, Blockchain has primarily been used by cryptocurrency implementations to provide a decentralized consensus platform for validating financial transactions. Ehave is looking at applying and improving the principles behind current Blockchain technology to allow patients greater control over their health record, while providing a decentralized mechanism for trusted stakeholders to contribute and access data for the benefit of the patient. The Ehave private Blockchain framework strategy leverages the trust in its health stakeholders to:
- Improve on the algorithm used to validate and reach consensus on all transactions involving the patient record.
- Provide support for the trusted stakeholders to publish new data to the patient record and to notify the patient when that data becomes available.
- Support smart contracts, allowing patients the ability to control what portions of their health record are available to which parties, and for what period of time (ideal for supporting formal clinical trials and observational studies).
- Provide a patient and stakeholder portal that retrieves and displays data according to the access granted by the Blockchain.
Combined, these will serve as the foundational elements for the secure and high integrity exchange of data amongst patients, clinicians, researchers, therapeutic companies and licensed producers from molecule/seed to sale to patient to efficacy and back.
Lead by Ehave CTO Dave Goyette, with over 30 years of health technology experience, Ehave will leverage its expertise in health data privacy and security to establish itself as a leader in the development and use of Blockchain in mental health and medical cannabis. Over the next six months, the Company will be formalizing partnerships with technology providers, consulting organizations, and consortiums to integrate to Ehave’s established informatics platform, which already houses 25,000 patient records.
“Ehave’s informatics platform was built to capture high quality clinical data throughout the patient journey, something that is missing in both mental healthcare and medical cannabis. We believe that the timing is right to ensure a standardized mechanism exists to allow data sharing while ensuring patient privacy and data security.” says Prateek Dwivedi, CEO of Ehave. “During my tenure as chief information officer at Mount Sinai Hospital and leading the Cancer Informatics Program and Princess Margaret Cancer Centre in Toronto, data sharing in healthcare was always a challenge to get right. We have the platform, customers and patients to make a real difference.”
Ehave is empowering the mental healthcare community with a next generation of data-rich tools designed to improve patient management, diagnosis and treatment. With Ehave Connect, Ehave’s mental health informatics platform, clinicians can make objective, data-driven decisions while keeping patients informed and engaged throughout their mental healthcare journey. Ehave Connect offers a powerful set of core features that integrate with a growing selection of tools and applications developed by Ehave and its leading partners, including Multi-Health Systems (“MHS”), a leading publisher of psychological assessments. Ehave is initially focused on improving the standard of care in attention deficit hyperactivity disorder (“ADHD”), through its collaboration with the Hospital for Sick Children (“SickKids”). Ehave Connect is also being utilized to advance the validation and optimization of medical cannabis, through its collaboration with MedReleaf.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading “Risk Factors” in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.