As the days go by, there is increasing proof that the blockchain model can be adapted to just about any process, with the potential of optimizing processes and adding reliability and trust that was not evident before its inception to our everyday life.
This time, the medical sector stepped up to the plate, with one of South Korea’s biggest hospitals teaming up with a local tech firm as they both intend to develop a medical services ecosystem powered by blockchain technology. The piece of news was made public this Tuesday via a press release from the medical institution.
A Fruitful Partnership
The hospital, named Myongji, made the deal official after the signature of a MoU (Memorandum of Understanding) with Korean IT (Information Technology) firm BICube, a self-called machine learning platform.
The primary intention of the strategic alliance is to create a system in which health care institutions can exchange valuable information under the same platform. The Myongji Hospital intends to build a “hybrid cloud” ecosystem to merge the benefits of private and public clouds, the statement read.
The idea is a fantastic one, as it would allow patients to share sensitive medical information between medical institutions (after due authorization) without having the data to be stored in a centralized way. That could be achieved thanks to the hybrid cloud capabilities. The plan is for the two companies involved to start offering the health care information exchange system next year.
Another Pro-Blockchain Development in a Country Full of Them
For years, South Korea has demonstrated it has some of the most evidently pro-crypto people. In the month of September, the KISA (Korea Internet and Security Agency,) the Ministry of Science, and ICT made public their intention of running their public blockchain pilot program for a further six projects. Additionally, the decision was made to invest nearly $9 million to extend blockchain technology affairs throughout the private and public sectors within the country.
Also, the South Korea Government is eager to keep developing the blockchain technology in the nation and is willing to spend money to ensure its application. It announced in the past few days that there would be an investment of $35 million reserved in the 2019 budget to help promote the approach, almost tripling 2018’s allocation, according to the specialized crypto news site Cointelegraph.
The week has been positive when it comes to crypto and blockchain-related announcements in the Health Care Department. On Monday, the Austrian government announced its intentions to help financially support Lancor Scientific, a UK-based company that intends to develop the Tumour Trace OMIS (Opto-magnetic Imaging Spectroscopy) device, which will use AI and blockchain technologies to “deliver low-cost and near real-time cancer screening at scale.”
A Little More about the Myongji Hospital
The Myongji Hospital, located in the city of Goyang, South Korea, has been functioning since 1987. In the last two years, it concluded an agreement on a dispatch of Korea Disaster Relief Team (KDRT) with the Ministry of Health and Welfare, it opened the New Horizon Cancer Institute, and it joined the Mayo Clinic Care Network.
The institution provides high-level medical treatment, high-tech medical research and training, and superb medical resources.
By Andres Chavez