South Korea’s Ministry of Science chooses FLETA for healthcare POC
FLETA a blockchain platform has been selected as a project conductor of blockchain PoC supported by the Ministry of Science and ICT (MSIT), South Korea and National IT Industry Promotion Agency (NIPA).
With the support of the Ministry and NIPA, FLETA will develop a blockchain-based clinical data management system (ePRO System). After FLETA develops the system this year, the company will perform pilot tests with The Catholic University of Korea and The Catholic University of Korea Seoul St. Mary’s Hospital in order to verify the performance, marketability and usability of this clinical data management system.
Paul Park, FLETA CEO, said, “This on-chain project is very challenging since every clinical data is inputted and managed on the distributed ledger system, with the objective of enhancing credibility and accuracy of the data. Since we are the company that is carrying out the POC we will ensure that all efforts are done for a successful use case for the healthcare and clinical research sectors.”
In March of 2019 South Korean government announced the financing of 10 Blockchain use case POCs and will work with 10 companies to foster blockchain technology innovation. According to the announcement of the NIPA, the total budget allotted is approximately USD 4,400,000 (KRW 5.2 Billion).
FLETA is a blockchain platform that is developed on a multichain structure, utilizing , Block Redesign, Level Tree, Parallel Sharding, and PoF (Proof-of-Formulation) which is its own consensus algorithm. The company developed the FLETA Gateway network which allows existing DApps to use FLETA’s service chain which is both faster and cheaper, staying in their mainnet for exchange purposes.