Blockchain For Healthcare Pilot Launches In South Korea

A new blockchain for healthcare pilot has been launched in South Korea, benefiting from the use of data management and storage on blockchains in numerous ways. We can see that the country’s government is trying its best to adopt blockchain technology in different industries.

In that manner, the country’s central bank is now reviewing the use of a central bank digital currency, while other government ministries want to adopt decentralized identification features within their current systems.
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On the other hand, there are many hospitals, pharmaceutical companies and research centers which will also benefit from blockchain for healthcare. Knowing that this new technology can help the medical industry, applying a blockchain service structure to traditional industries is not so quick and simple, and plenty of testing needs to be done before it can be applied in people’s daily lives.

Now, the South Korean government is encouraging blockchain technology, as well as conducting different proof-of-concept projects to find the best way to connect blockchain to the current system. Blockchain for healthcare in South Korea is a project that is organized by the nation’s Ministry of Science and ICT, as well as its National IT Industry Promotion Agency which initiated similar proof-of-concept projects back in 2019.

The blockchain news lately also show that many governments struggle with the healthcare implications of the coronavirus pandemic, which shifts their focuses away from many chronic diseases and conditions to the more pressing concern of bringing this pandemic under control.

Still, behind all the noise, we can see that government health organizations are doing their best to use the technology, analyze, and respond to all the challenges that chronic conditions such as diabetes and cardiovascular disease place on populations and healthcare systems.

So, professionals working within health departments have long had to contend with a lack of funding which often forces them to rely upon legacy computer software and hardware that is not suited for a fast-changing healthcare system. Here, blockchain for healthcare plays a major role, bringing decentralized solutions to departments which rely on clear and accurate daily information when treating their patients.

On top of everything, we also saw South Korea passing new data-related regulations (effective in December 2020) which align to the benefits of using blockchain in different sectors.