Prysm Group Tapped for Incentives for NIST Alert System

September 28, 2022

MIAMI BEACH, FL - Prysm Group, an economic consulting firm focused on emerging technologies, has been contracted to design the incentive model for the government-backed project titled the Local Health Alert System.

Spearheaded by MxD, a digital manufacturing and cybersecurity institute, and supported by a $6.25 million award from the National Institute of Standards and Technology (NIST), the campaign's mission is to establish a rapid response medical goods supply chain marketplace and to advance data analysis to track future demand signals.

Prysm Group joins the project following the project's decision to select SIMBA Chain as the technology for the underlying platform. Utilizing SIMBA's proprietary technology, the system will employ blockchain technologies, including zero-knowledge proofs, verifiable credentials, and distributed IDs, to build a decentralized and privacy-preserving system that will fuel an online marketplace for consumers and manufacturers of emergency health and medical goods.

As for Prysm Group's role, the firm has been tasked with designing the proper distribution of incentives to promote the necessary adoption and usage of the system from the various stakeholders across the system. When asked about the project, Prysm Group Managing Partner Guido Molinari said, "Based on the scope of the project and the track record and reputation of the other parties involved, our firm is excited for the opportunity to step in and fill the need for our niche area of expertise, economic design."

The Local Health Alert System will integrate with leading-edge health monitoring, wearable technology applications to detect disease earlier, enable earlier and higher-resolution demand signals, and provide additional value to consumers and the health care sector.

When asked about the collaboration, Bryan Ritchie, CEO of SIMBA Chain, said, "This partnership will enable SIMBA Chain and Prysm Group to work together to enable a more agile supply chain across the public health sector." He continued, "Facilitating a real-time connection between active public health data and the supply chain status will enable companies to produce and deploy medical supplies more efficiently in future health crises. We look forward to working together."

As for the project timeline and next steps, MxD, SIMBA Chain, and Prysm Group are currently refining use cases and determining preliminary incentive requirements. From there, the group will move towards producing a pilot to collect performance data and feedback for future iterations.

About Prysm Group 

Prysm Group is an economic consulting, and corporate learning firm focused on emerging technologies. Founded by Harvard Ph.D. economists, the firm assists enterprises, governments, and startups in the adoption and implementation of blockchain, digital assets, and the metaverse through its advisory and educational services. Prysm Group's areas of expertise include incentive design, monetization, and governance for both open and closed blockchain and metaverse platforms. The firm delivers its executive education program in partnership with the Wharton School. To learn more about Prysm Group, visit www.prysmgroup.io.

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Prysm Group Tapped for Incentives for NIST Alert System