PR84053

SHANGHAI, May 19, 2020 /PRNewswire=KYODO JBN/ --

With more than 4.6 million infections, 300 thousand deaths and counting caused

by COVID-19, national governments, healthcare systems regardless of region and

continent have been scrambling to respond to it, and the pandemic has

highlighted the increasing demand for digital technologies to replace our old

way of communication. VeChain is at the frontier of this digital

transformation, solving the problems of the management of healthcare data by

utilizing solutions powered by blockchain technology.

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Logo - https://mma.prnewswire.com/media/738221/VeChain_Logo.jpg

With the aim of enabling digital transformation in the healthcare sector,

VeChain, together with I-Dante co-developed a blockchain-enabled medical data

management platform named The E-NewHealthLife.  Mediterranean Hospital of

Cyprus, a hospital under the General Healthcare System of the Republic of

Cyprus (GHS) is the first hospital to adopt this application.

Healthcare System Advancement

There have been efforts to modernize the technological infrastructure in the

healthcare sector, but the problems include the administrative and technical

difficulties of pooling data from different digital  systems (

https://c212.net/c/link/?t=0&l=en&o=2806143-1&h=634437661&u=https%3A%2F%2Ffortune.com%2F2020%2F04%2F30%2Fcoronavirus-treatments-electronic-health-records%2F&a=pooling+data+from+different+digital%C2%A0+systems

), the increasing cost, and the balance of health imperatives and privacy

concerns, have greatly hampered the efforts. This dilemma has led to an urgent

need for a low-cost yet highly-efficient digital solution.

With proven advantages in terms of secured data storage and efficient

information sharing between multiple parties, blockchain technology has emerged

as the best option in hand.

Blockchainized Actions In Response To The Challenges

There is a strong and urgent demand to deliver better and more efficient

healthcare solutions that can achieve excellent patient-centric healthcare

provision, secured data sharing, while complying with regulations on the use

and sharing of patient data, which is solved in this case by the introduction

of the E-NewHealthLife Web App in the Emergency Department of the hospital as

the first phase of this project.

Powered by VeChain ToolChain(TM), the Digital Healthcare Passport is an

encrypted NFC Card that can be assigned to any patient of the hospital. The NFC

Cards will allow the patients to identify themselves automatically at the

Emergency Room registration desk, check their queue on mobile phone, manage

their own medical records safely with the E-NewHealthLife Web App.

The blockchain powered application can serve both the hospitals internally and

also end users. As The E-NewHealthLife fully complies with the GDPR (EU's

General Data Protection Regulation), the App enables the owner to have complete

control over their profile and medical records. Data can only be shared to 3rd

parties with the permission of the owner.

Bridging Trust In The Healthcare Sector

Blockchain is being posited as the next frontier in healthcare that will help

solve the industry's interoperability challenges. According to a report by BIS

Research (

https://c212.net/c/link/?t=0&l=en&o=2806143-1&h=385795944&u=https%3A%2F%2Fbisresearch.com%2Findustry-report%2Fglobal-blockchain-in-healthcare-market-2025.html&a=BIS+Research

), the global healthcare market spending and investment on blockchain-based

technologies is expected to hit $5.61 billion by 2025. The adoption of

blockchain technology could save the healthcare industry up to $100-$150

billion per year by 2025.

Based on concrete cases of multi party collaboration in various industries,

VeChain has been accumulating experience in bridging trust and bringing in

transparency into business while being compliant with local authorities and

regulators. Given the huge potential of blockchain technology in the medical

and healthcare sector, VeChain will continue to develop solutions for all

stakeholders and pursue more opportunities in the near future.

About Mediterranean Hospital of Cyprus

The Mediterranean Hospital of Cyprus is a modern private health care

institution, one of the largest in Cyprus, with a mission to provide to all the

citizens and the visitors of the country safe and high quality medical services

24/7. The founder of the Mediterranean Hospital of Cyprus, Dr. Andreas

Panayiotou has set as a goal the development and the establishment of a

reliable infirmary, with flexible operational mechanisms, in order to gain the

trust and recognition for the quality of its services from everybody.

Mediterranean Hospital of Cyprus is the first private hospital that joined

Cyprus' General HealthCare System (GHS).

Website: www.medihospital.com.cy/en/

About I-DANTE LTD

Founded in December of 2019 by Etna Digital Growth (a consultancy- software

house company in Italy) and CircleServus LTD (a consultancy company in Cyprus)

in order to build digital healthcare solutions leveraging the power of the

VeChainThor Blockchain.

Website: www.i-dante.com/

About VeChain

Launched in 2015, VeChain connects blockchain technology to the real world by

providing a comprehensive governance structure, a robust economic model, and

IoT integration. VeChain is the pioneer of real-world applications using public

blockchain technology, with international operations in Singapore, Luxembourg,

Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our

strategic partners PwC and DNV GL, we have established cooperative relations

with many leading enterprises in different industries, including Walmart China,

BMW, BYD Auto, Haier, H&M, LVMH, D.I.G, ENN, AWS, PICC, ASI etc.

Website: www.vechain.com

SOURCE  VeChain

CONTACT: info@medihospital.com.cy, info@i-dante.com, press@vechain.com