Singapore-based venture capitalist, SGInnovate, announced a new partnership with a local startup, Accredify. The VC that focuses on Deep Tech startups is aiming to develop a blockchain-based platform for Singapore citizens. The new product, named Digital Health Passport, will make it easier to manage the personal medical records.
Amid the COVID-19 pandemic, keeping records and managing medical data is becoming critical. Digital Health Passport focuses on this, and SGInnovate hopes to provide quick access and easy verification for this kind of data.
Healthcare organizations, government authorities, and everybody in healthcare services need faster and more secure data management. They can help patients easier by having access to medical records. Keeping the data flow safe and secure is the main challenge in this process that blockchain technology can help solve it.
COVID-19 pandemic has resulted in considerable efforts around the world to develop technological solutions. Singapore startups have been busy, too, and Accredify was successful in partnering with a major VC.
“In recent months, we have seen how Singapore’s Deep Tech community has made concerted efforts in stepping up to develop and deploy various COVID-19 solutions. Opportunities can be found within crises, and we are excited to be able to contribute to Singapore’s response to fight and contain the outbreak through our blockchain technology and help position Singapore as a Digital Hub in a post-COVID world,” said Zheng Wei Quah, CEO of Accredify.
SGInnovate started an initial phase of Digital Health Passport with the Ministry of Health (MOH) and the Ministry of Manpower (MOM) in Singapore in July. The product integrated into the MOM’s FWMOMCARE app helps them manage and monitor COVID-19 discharge memos for foreign workers.
Digital Health Passport can be a significant step forward for SGInnovate to show the importance and deep use-cases of blockchain and similar innovative technologies in real-life.
“The Digital Health Passport is an example of the outcomes-driven Deep Tech projects that we work on at SGInnovate. It also highlights the relevance of Deep Tech in providing critical solutions for the most pressing global issues. As we transition into the eventual recovery phase post-COVID, the Deep Tech community will need to band together with government, corporates, and other startup partners to bring their research out of labs, and develop innovations that can help to strike a balance between public health, safety, and economic activities worldwide,” said Pang Heng Soon, Chief Operating Officer & Executive Director of Venture Building, SGInnovate.
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