Recovery LLC, a $32.6 billion healthcare recovery company located in Miami, has announced a collaborative partnership with Web3 solution Tokenology to build Lifechain, a fraud-prevention blockchain platform.
Lifechain will try to use the verifiable and transparent features of blockchain technology to improve patient and industry professional access to healthcare costs, claims, and medical information.
According to recent data, MSP Recovery’s consumer application LifeWallet, which launched in January this year and has already registered over 1 million users, will host the technology with a tokenized solution LifeCoin.
The press release gave further context for the scale of the challenge within the healthcare industry, namely working in the field of reimbursing secondary medical insurance payments.
Following the acquisition of Lionheart Acquisition Corp II, MSP Recovery became a publicly traded company in mid-2021 and operates on the Nasdaq under the ticker symbol MSPR.
Sandeep Nailwa, co-founder of Polygon (MATIC), shared his views on the partnership, calling it “very significant” and “a testament to the evolution of creative new solutions that developers like Tokenology are generating utilising Polygon technology.”
