HEX Innovation, a Hong Kong-based company, recently launched a blockchain technology platform during a blockchain conference, Hybrid Summit 2018 held on July 28 & 29 in Bangkok. The platform provideS medical information. The company, engaged in managing a large volume of medical information, will integrate all the data on the blockchain platform.

This data will include all hospital records of patients, their radiation doses as well as other details as per the international standard. According to the company, “Attempts have been made to use blockchain in order to protect information of individuals safely, but it has been pointed out that the performance degrades as the data size increases due to the characteristics of the blockchain.”

HEX teams up with Singapore-based ASTON

For developing the required capability for the blockchain-based platform, the company has teamed up with the Singapore-based ASTON and TPLUS, which built the FHIR system recently for the government of South Korea.

HEX has taken this step in response to a challenge put forth by the Chinese Academy of Sciences academician, Zhang Shouyi in July. Zhang urged investors to adopt a wider perspective towards blockchain technology as well as its applications. The founder of Danhua Capital stated that everyone must understand the power of blockchain and its limitations.

Rise in blockchain related healthcare investments

HEX is not the first company to apply blockchain in the field of medical and healthcare. In June this year, Cool Kids, an enterprise from the Philippines teamed up with a blockchain group based in Boston with the aim of improving deliveries related to healthcare. The enterprise comprises entrepreneurs and consultants who work collectively to provide life improvement solutions by using emerging technologies.

Healthcare policies in advanced countries are interested in bringing awareness about individual healthcare and are focused on preventive measures rather than offering post-treatment for diseases. Blockchain has been used by many companies to safely protect a patient’s data. However, it has been found that when the size of the data increases, its performance level degrades, which can cause major problems.