Currently clinical trials are very expensive despite the use of technologies, the rising costs are directly related to the processes, research and development of the clinical trials. With the increasing number of clinical trials which have rose to 25,000 in 2018 up from 3,000 in 2013, the increasing number of clinical trials is because technology has made it possible to use horizontal data that fastens the research process and development of clinical trials. Unfortunately, researchers have experienced increased costs of productions due to the erroneous processes with an estimated cost of a clinical trial being $15 million the industry can save billions when the processes are optimized and improved. This can happen when we get rid of middlemen and substandard services that increase the costs of operation processes, researchers can also decrease the cost of clinical trials by using collaborative techniques that rewards quality contents and ideas.
(Video Source: YouTube - ClinTex CTi - Clinical Trials Intelligence)
Researchers have been looking at ways to improve clinical trials, through the use of technology clinical trials can be improved and optimized considering the safety measures and efficiency of the processes. One of the projects empowering researchers is ClinTex an innovative blockchain projects that’s uses the power of blockchain technology and artificial intelligence towards improved clinical trials that optimizes clinical trials accelerating innovations, the use of blockchain technology will also help in the safety of records by storing them on the platform distributed ledgers that are secure from malicious hackers' ad fraudulent individuals. Through the use of ClinTex researchers can be able to improve clinical trials and safety.
ClinTex platform is a decentralized clinical trials collaborative and analytical platform that uses the power of blockchain technology smart contracts and distributed ledger technology towards optimizing clinical trials processes in a decentralized environment.
ClinTex platform also allows researchers and collaborators working on the platform be rewarded for their efforts through its tokenized economy, the rewards are distributed automatically through smart contracts and the trail is transparent and anyone can be able to validate and verify the transactions. Blockchain technology has an added advantage when it comes to clinical trials, through the customized ClinTex platform users will be able to improve the quality of clinical trials processes through the use of clinical data reviews, improved monitoring and management of resources.
Clinical trials are mostly conducted in closed systems where the community do not understand what is going on, this has been due to the centralized nature of operations. It is estimated that approximately 855 of patients don’t understand what clinical trials options are available to them and this is the results of lack of awareness due to the centralized operation processes.
Considering the amount of money spent on the clinical trials and the lack of awareness of the treatment options for patients is alarming and a solution should be of critical importance, I do believe decentralization of Clinical trials will increase awareness to the community who will be able to gather critical data when considering treatment trials.
Blockchain technology and ClinTex will be able to improve the processes of clinical trials through optimization of the processes to increase the quality and quantity of clinical efforts through a decentralized ecosystem. The distributed ledger technologies will be beneficial during the storage of clinical data where security of the data is high priority, distributed ledgers will allow the data to be accesses and used only by authorized parties.
ClinTex will also use blockchain technology towards improving the collaborative efforts during clinical research by enabling sharing of data and minds, the communication process will streamline the workflow of the operations and deliver results much faster than traditional operational methods. The use of smart contracts will also improve transparency on the use of funds and traceability of data, the smart contracts will also be beneficial when rewarding contributors through a decentralized economy where incentives will be processes automatically.
ClinTex plans to decentralize clinical trials to allow researcher tap external talents towards optimizing clinical trial processes. Traditionally when clinical trials are conducted internally the talents are limited to only a few skilled individuals increasing the duration and cost of getting results. Through collaborative efforts clinical trials can be able to tap global innovation. ClinTex solution targets the storage of data in decentralized cloud systems that improve the security, collaborative accessibility of clinical data and protection of data from malicious use.
The data from decentralized sources will be able to be stored into one hierarchy systems, that will be accesses by the global community – the horizontal colossal sharing of information improves the processes of conducting clinical trials. Traditionally these databases were centralized and only a few people had the access.
Through blockchain technology ClinTex will be able to allow clinical trials processes to managed and monitored in a decentralized environment, the privacy of the data is protected by cryptography and authorized individuals will be able to access the information and use it towards improvement of clinical trials processes.
Blockchain technology brings innovative features such as smart contracts and distributed ledgers that can improve clinical trials, ClinTex is a solution in clinical trials and brings opportunities that can be beneficial by optimizing clinical trials processes. Clinical trials integrity will be improved through the transparency of the processes and use of funds.
ClinTex is a solution to Clinical research by allowing the community to support clinical trials through mind sharing and collaborative efforts through gathering of clinical researchers around the world.
Website: https://www.clintex.io
WhitePaper: https://www.clintex.io/Clintex_CTi_Whitepaper.pdf
Telegram: https://t.me/ClinTexCTi
Twitter: https://twitter.com/ClinTexCTi
Medium: https://medium.com/clintexcti
ANN: https://bitcointalk.org/index.php?topic=4821618.0
Author: jamesndungu1
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