Blockchain in the Medical Industry -FLETA’s New Use Case
As Blockchain technology continues to enter our lives, the areas of use begin to emerge. Because blockchain technology is not only used for trading cryptocurrencies, it also offers thousands of more possibilities. So far, blockchain has found so much daily use, including banking, e-commerce, music, messaging, social media, and many more.
One of the main reasons for this is the fact that information processed into the blockchain can be stored forever, cannot be changed (immutable), or manipulated. In this way, the blockchain breaks new ground in the field of data protection and storage.
So why is it so important to store the user data of clinical patients in the blockchain?
Fraud in clinical information is an everyday reality in the health sector. Many hospitals and patients around the world are involved in fraud by distorted clinical data
One of the main reasons for this is to steal non-treated healthcare costs from the insurance or government, making untreated patients pretend to be treated. In this way, public and private hospitals try to make money by distorting patient data.
Another reason directly concerns patients. Some patients may show themselves as sick or vice versa by distorting some data. In this way, they earn money or gain benefits in other ways.
However, the fact that the information processed on the blockchain technology is “immutable” prevents such events. Because when any data is transformed into a blockchain, it becomes impossible to manipulate that data.
In this way, it becomes impossible for both hospitals and patients to distort data.
Today, many patients all over the world die because of “omission.” One of the main reasons for this is the lack of follow-up of the patient’s health and the lack of appropriate treatment. Patients’ data cannot be checked, incorrectly checked, and many more failures can lead to wrong treatments.
One of the biggest causes of child deaths in the world is “omission.”
However, with the help of blockchain technology, the patient’s information can be checked instantly by both the doctor and the patient, and this patient data can be accessed electronically 24/7. In this way, patients can access and be informed of all data.
Another answer to the question of why blockchain technology is used in the clinic area is to minimize the errors that may occur. Because when any patient data is processed into the blockchain, the accuracy of these data can be checked online and offline.
Today, hospitals store patient data both digitally and in files inefficiently way. When this happens, if there is a mistake in one of the two reports, there is a dispute. Besides, storing this digital data on the internet creates a separate cost for hospitals. Also, storing this data in central storage makes it easier to access by a stranger and increases the risk of hacking.
We know that this centralized storage method means any hacker or person who wants to access, can instantly access and modify this data.
But stand still, FLETA is coming to find solutions to all these problems with blockchain technology!
FLETA’s eCRF System Presentation Sponsored by S. Korean Government
FLETA, the blockchain infrastructure leading technology, has achieved a fast speed of 14,000TPS in a test replicating real operating environment. FLETA aims to lead the popularization of the blockchain with its low commission fee and unlimited scalability.
The TPS speed of the project has been tested in a laboratory environment, and FLETA formed servers in 6 different cities globally, including Paris and London. The fact that the project is in infinitely scalable technology will enable dApps to adapt to the ecosystem more quickly and make more use of cryptocurrencies in daily life.
One of the main goals of the FLETA project is to adopt blockchain technology to everyday life. By integrating many of the APPs we use in everyday life into blockchain technology, we can make it much more decentralized and scalable. In this way, by building our idea on a much more robust infrastructure, we can open the doors of long-term success.
Last May, SendSquare, a foundation of FLETA, was selected as a conductor of blockchain PoC project that is supported by the National IT Industry Promotion Agency of South Korean Government, aka NIPA. The project is blockchainizing eCRF system using FLETA’s technology.
SendSquare’s eCRF system is a blockchain-based clinical trial data collection tool that aims to prevent forgery, omission, and errors of clinical trial data by recording them on blockchain. Through such a process, the reliability of clinical trial data can be enforced. Led by SendSquare, the project is in progress with the cooperation of Hanyang University and the Catholic University of Korea Seoul ST. Mary’s Hospital.
Paul Park, CEO of FLETA is giving a presentation
On Oct. 31, FLETA participated in an interim check of blockchain PoC project of NIPA, and FLETA’s CEO Paul Park gave a presentation about the current status of the eCRF development process, which was part of the interim check procedure. Paul received feedbacks and questions from many experts in the diverse fields, including university professors and government officials.
It was a great opportunity to see the interests of attendants towards FLETA’s blockchain technology and clinical trial data management using blockchain technology. The project ends at the end of November, and its result will be revealed in December.
It is estimated that FLETA will make more comprehensive statements in the future as a result of positive feedback from both the private sector and the South Korean State. Thus, one of the most significant steps that blockchain technology will take for the mass adoption ecosystem will be realized.