Quick take:
- JennyCo has selected Polygon as its blockchain of choice.
- JennyCo plans to use the Polygon blockchain technology to enable consumers to share and access data and insights.
- JennyCo joins many global companies that have chosen Polygon as their entry point into Web3.
JennyCo, the world’s first Web3 healthcare data exchange, has chosen Ethereum Layer-2 scaling network, Polygon, to power its beta mobile application and token launch in the first quarter of 2023.
The exchange plans to use Polygon’s blockchain technology to enable consumers to share and access data and insights, improve health outcomes, increase personalization, and lower costs.
Layer-2 scaling solutions like Polygon can improve the scalability and efficiency of blockchain networks by allowing transactions to be processed off-chain and batch-validated on the main chain. This can reduce transaction fees, decrease friction, and improve the user experience.
As the security and privacy of healthcare data are crucial, JennyCo makes a use case for blockchain technology to enable secure data sharing between multiple parties. For instance, the decentralised nature of blockchain technology removes the need for a third party to manage data transactions, and distributes power across all trusted participants in a platform’s ecosystem, allowing them to have more control over how their data is used.
By using Polygon as the initial blockchain protocol for its MVP, JennyCo can leverage blockchain technology’s security and decentralized nature to create a secure and transparent healthcare data exchange.
In the future, JennyCo also has plans to collaborate with other networks, such as Constellation Network, to allow cross-chain interoperability. JennyCo joins many global companies that have chosen Polygon as their entry point into Web3. Some of the notable ones include Starbucks, Mastercard and Reddit.
“JennyCo is designed to easily integrate with a wide variety of healthcare data, providers, individual clients, and large corporation users. As such, we need to anticipate explosive growth and be prepared to scale accordingly; therefore, Polygon became the obvious initial solution. While our unique company and user requirements dictate our Web 3.0 selection, it’s certainly inspiring to build a community alongside some of the largest consumer brands in the world,” said JennyCo CEO and Co-Founder Dr. Michael Nova.
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