Sendsquare announced that the National IT Industry Promotion Agency (NIPA) of the Korean government had chosen it for a blockchain-based clinical project. The project is aimed at developing a clinical research data registry platform that uses real-world data combined with the blockchain concept.
Supporting Blockchain Projects in South Korea
South Korean government has serious plans to support blockchain-based companies. NIPA will invest $3 million in 2020 to support these startups and mid-size companies. It chose Sendsquare last year as one of the 11 projects to receive support. The eCRF system from Sendsquare that focuses on clinical data collection attracted the authorities.
Inefficient data usage in clinical institutions and the problem with the credibility of medical research data caused Sendsquare to develop a better solution for managing and validating data.
“To solve the problems, Sendsquare decided to develop RWD (Real World Data)-based Clinical Research Data Registry Platform using Blockchain,” according to Sendsquare.
The new platform will provide multiple features like data profiling, extraction, visualization and documentation that all rely on blockchain infrastructure. The blockchain-based platform makes it easier to extract use-case from raw data and also improves the insight gained from the data.
Sendsquare’s new blockchain solution consists of a private and a public blockchain. Confidential and classified data will be stored on the protected private blockchain.
“On the other hand, on Public Chain, data usage records and headers of Private Chain will be recorded periodically. With the records on the Public Chain, the data’s alternation can be tracked. In turn, data can be managed and utilized transparently, and data forgery can be prevented,” according to Sendsquare.
KyungHee University Medical Centre in Seoul is one of the fundamental partners with Sendsquare in the new project. Nine years of data collected by this institution from diabetes patients will be analyzed within the new system.
Sendsquare will develop its platform to be accessible for all kinds of medical studies through pseudonymization, organization, and cleansing of data. The long-term vision for this project is to develop a representative blockchain-based healthcare platform. The eCRF system and this year’s platform will be combined to create that solution.
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