Sendsquare to Build Blockchain-Based Diabetes Data Registry for South Korea

South Korea has grown to be one of the world’s leading countries in terms of crypto and blockchain adoption. With more nations finding reasons to incorporate blockchain, especially into their operations, the Asian giant has made sure not to be left out.

Effective Storage for Diabetes Data Records

Earlier this week, blockchain firm Sendsquare announced that the South Korean government had tapped it to develop a proof-of-concept for the country as it looks to tackle the growth of diabetes.

As the company’s press release explained, it will team up with medical practitioners and clinical experts at the KyungHee University Medical Center in Seoul to begin examining nine years’ worth of diabetes data that the center had collected. The company will also be moving the data on to its FLETA blockchain platform for more effective storage.

South Korea currently has about 3.6 million people with diabetes, according to data from Diabetes Atlas. According to the new deal, Sendsquare’s blockchain platform will help the company address data storage and application processes effectively.

“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,” Suk Chon, a professor at the KyungHee Medical Center, said in the press release.

Sendsquare has estimated that it would complete the development process in six months. The initial objective will be to analyze the data, with the hope of anonymizing it. Then, Sendsquare will implement the data on to a registry and record it on the FLETA platform.

After developing the platform, Sendsquare will get independent verification from the Telecommunications Technology Association (TTA), South Korea’s leading IT standardization agency.

South Korea’s Growing Blockchain Affinity

The diabetes data storage platform will form the latest in South Korea’s mission to incorporate blockchain into government and private organizations. Earlier this month, a consortium of organizations from the private and public sectors announced that it would be building a blockchain-powered platform to help optimize the country’s medical tourism space.

A report from local news source Gyeongnam Ilbo confirmed that the Busan bank will lead the initiative. Some other prominent members of the group include the Samyuk Busan Hospital, the Dong-A University Hospital, the Pusan National University Hospital, the Gosin University Gospel Hospital, and payment brokerage company Knet Co. Ltd.

The consortium is hoping to establish the platform in Busan — the second largest city in South Korea (in terms of population) and one of the country’s most prominent medical tourism hotspots.

All parties have entered into an agreement that will see them join forces with the banking sector — through the Busan Bank — to launch a smartphone app known as the “Regional Mobile Medical Tourism Platform.” The Busan Bank thus intends to conduct all transactions in the medical tourism space through the app – especially those from people looking to get cosmetic procedures and plastic surgeries.

The platform will offer a wide array of services, including account opening and currency exchange. It will also serve as a conduit between prospective patients and licensed medical practitioners in Busan.

Along with regions like the United Arab Emirates and Saudi Arabia, South Korea is building its portfolio as a blockchain hub. It’s definitely worth seeing what the country has planned next.