Since its inception, blockchain technology has been referred to as the most transformative technology especially for financial services. But Blockchain has evolved far beyond just fintech. From the supply chain to healthcare, the tech has seen massive utility across several sectors.
With the onset of the COVID-19 pandemic, blockchain saw growing use in the healthcare sector with various new applications. As of late, a blockchain company is now leveraging the disruptive technology to securely store medical data in South Korea.
The government of South Korea is well known for implementing blockchain across several sectors. The authorities now want to develop a blockchain-powered registry to analyze, anonymize, and store clinical data for diabetes.
3.6 million diabetics
Sendsquare, a blockchain startup, has been selected to pilot the project and develop the proof-of-concept for the nation that reportedly has approximately 3.6 million people with diabetes.
The company will collaborate with several clinical experts and medical practitioners from Seoul’s KyungHee University Medical Centre, to start analyzing medical data collected by the center over the past nine years.
According to KyungHee Medical Center’s Professor Suk Chon:
“Storing and collaborating work across a large volume of data using centralized services has proven unwieldy and subject to issues of data loss, duplication, and manipulation. Sendsquare’s blockchain can help us to solve data storage problems, and in the long term help diabetes sufferers nationally.”
The company estimates the project to take around six months to complete with the current goal being the analysis of the data and then anonymizing it before it is implemented onto a registry which will be recorded on the FLETA blockchain platform, the company’s blockchain network developed for the nation’s healthcare system.
Following the development of the blockchain application, Sendsquare will seek independent verification from Korea’s Telecommunications Technology Association (TTA).
Since the start of 2020, blockchain has been actively used in the battle against COVID-19.
As previously reported by The Daily Chain, Blockchain has been used to track the spread of the deadly virus by implementing distributed ledger technology (DLT) in a tool, known as the HashLog data visualization engine.
The tool collects real-time data with Hedera Hashgraph’s DLT to allow researchers, scientists, and journalists to further understand the spread of the coronavirus and its trends over time through visuals.
Hyperchain also used blockchain to ensure that donations sent for the aid of COVID victims are traceable and immutable, providing complete transparency to see exactly where the donations are being utilized.