According to a press release dated April 23, Insilico Medicine – a blockchain based medical data marketplace Longensis and biotechnology firm has officially joined hands with a South Korean based hospital Gil Medical Center in order to create a health data management solution based on blockchain technology.
Reports suggest that the partnership intends to develop a platform powered by blockchain primarily based on Bitfury’s Exonum blockchain framework in order to increase the efficiency of data collection, boost medical research processes while making sure of transparent management of patient consent.
As per reports, Longensis will be administering a safe and secure ecosystem for Gil Medical Center in order to upload, store and manage patients private data necessarily enabling patients to control their data. Moreover, the platform intends to address compliance with the HIPAA (Health Insurance Portability and Accountability Act) and GDPR (the General Daa Protection Regulation) regulations since foreign patients are also treated at the hospital.
Earlier this month, Longenesis and Bitfury collectively launched the production of a consent management system based on blockchain technology specifically for the healthcare sector that addresses conformity with GDPR and HIPAA.
Also, in the middle of last month, Seoul Medical Center (one of the major South Korean hospitals) came forward to announce its intentions of launching a blockchain based platform in order to improve its medical services. The project was named ‘Smart Hospital,’ and it aimed to lift data accuracy and minimize processing timing for Seoul Medical Center.
As previously reported, to promote blockchain based projects in the country, the Metropolitan Government of Seoul brought out the establishment of the ‘Seoul Growth Fund’ with a target of investing over $1 billion in projects based on blockchain technology and fintech related startups by 2022.