How Bitfury’s Exonum Blockchain is Helping a South Korean Hospital

• Toshendra Kumar Sharma
• May 14, 2019

According to multiple reports, health data company Longenesis and South Korea’s Gil Medical center have jointly created a blockchain-based health data management solution. The reason behind this agreement is to build a blockchain-powered platform based exclusively on the Bitfury Exonum blockchain network. It aims to ensure transparent management of patient consent and boosting medical research processes. It will also aid in efficient data collection.

 

Longenesis helps build revolutionary platforms which deliver the future of data analytics and medicine by integrating the best AI and blockchain solutions that are available. It is a leading artificial intelligence company which uses deep learning for drug discovery. Longenesis data escrow provides new insights in the field of healthcare R&D. It provides useful recommendations to pharmaceutical companies to help develop new drugs. The medical data of users can be stored and tracked in a secure environment.

 

According to Garri Zmudze, CEO of Longenesis, “Gil General Hospital has a splendid reputation for being on the edge of adopting the latest innovation. We are honored to mark our Korean presence with a partnership like such.”

 

Located in Incheon, South Korea, Gil Medical Center provides high-quality treatments. It was founded in 1978 and had more than 1,300 licensed beds and currently ranks 5th in Korea in terms of capacity. Gil Medical Center is known for adopting the latest technologies. In 1991, it was the first hospital in Korea to use a fully integrated computer system to carry out the administrative duties of the hospital.

 

Exonum allows building secure, reliable, and decentralized blockchain applications. It enables companies, individuals, and governments to design both public and private blockchains. Exonum can handle up to 5,000 transactions per second. Exonum’s fundamental security properties cannot be circumvented by bad actors even in the rare case of all blockchain nodes being compromised.

 

Exonum blockchain utilizes a JavaScript lightweight client which allows you to request data, send transaction requests, and verify cryptographic proofs from anywhere across the globe on any device. It is easy to build and uses a blockchain with Exonum as both the client-side software and the entire library of code are open sourced.

 

The platform will be operating under the General Data Protection Regulation guidelines (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA) thus ensuring complete transparency of its entire blockchain operations. This will help Gil Medical Center to better manage consent forms and statuses for individual researchers which help in facilitating the advancement of clinical trials.

 

BitFury is one of the leading infrastructure providers for bitcoin mining. It ensures stability and security on the blockchain through its state-of-the-art data centers. It offers data center operations in Norway, Canada, Republic of Georgia, and Iceland. It is a full-service bitcoin and blockchain technology company. It delivers software and hardware solutions for moving assets securely across the blockchain.

 

In mid-March, Seoul Medical Center, another major hospital, announced its plans to launch ‘Smart Hospital.’ It is a blockchain-based platform which is aimed at boosting data accuracy, reduce processing time, and improve the medical services of the hospital. According to a news report from February, the Seoul Metropolitan Government plans to establish the ‘Seoul Innovation Growth Fund’ and aims to invest more than $1 billion in fintech and blockchain startups by 2022.