Biotech company Insilico Medicine and data marketplace Longenesis are partnering with Gil Medical Center in South Korea to design a blockchain-powered solution focused on health information management.
According to a recently released press statement, the groundbreaking partnership aims to create a blockchain-backed platform based on the Exonum framework that Bitfury developed. The system is expected to make data collection more efficient, enhance medical research systems, and make sure that patient consent management remains transparent.
Longenesis is allegedly tasked to provide a stable ecosystem for Gil Medical Center to send, save, and manage their patient’s private medical information while also giving patients access and control over their data.
The new system also plans to address compliance issues with the General Data Protection Regulation (GDPR) and Health Insurance Portability and Accountability (HIPAA) rules since the South Korean hospital also provides treatment to foreigners.
HIPAA and GDPR Compliance
It’s been a busy month for Longenesis. The company, along with Bitfury, launched a blockchain-centered consent management platform in early April that focuses on HIPAA and GDPR compliance issues.
South Korea has been keen on adapting blockchain technology. In February, Seoul’s local government launched the “Seoul Innovation Growth Fund” in a bid to promote South Korea’s blockchain projects. The country apparently plans to invest $ billion and more in fintech startups and blockchain projects by 2022.
Another project that’s currently in the works is the “Smart Hospital” launched by the Seoul Medical Center. The hospital revealed it plans to develop a blockchain-powered platform to enhance the medical services it provides. The system will reportedly improve data accuracy and minimize processing timing for the center.