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Verseon launches ‘transformative blockchain technology’ for funding drug development

The idea is to enable blockchain based securities that can comply with existing financial regulations
blockchain representation
The focus is on the health sector and funding drug development

Verseon Corporation (LON:VSN) has launched what it describes as a ‘transformative blockchain technology’.

The company’s subsidiary, BlockRules Ltd, has developed the technology which focusses on disruptive technologies for the global health market, challenging traditional drug development funding models.

READ: Blockchain basics: Tokens and tokenisation explained

It aims to support the sale, launch, and trading of securities on a public blockchain.

Specifically, Verseon claims that the platform has been designed to allow token offerings to comply with existing security regulations thus removing certain risks and hurdles for broader investor audiences.

"We founded Verseon with the goal of developing new technologies to advance the discovery and development of new medicines," said Adityo Prakash, Verseon chief executive.

"By democratizing investment access with blockchain technology, we will change the way new medicines and other life-science innovations are funded and how the resulting proceeds are shared."

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