HEX Innovation Launches Blockchain-Enabled Medical Platform

Hong Kong-based HEX Innovation has introduced a blockchain platform for medical information.

Hong Kong-based HEX Innovation introduced a blockchain technology platform for medical information during the Hybrid Summit 2018, a blockchain conference held in Bangkok this weekend.

In a statement, HEX Innovation Ltd., which already manages a large volume of medical information, said it will integrate its data on a blockchain platform with all the patients' hospital records, radiation doses, and other details using international standard.

“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.”, the company said.

To develop the capability, HEX has partnered with ASTON (XBC Technologies PTE. Ltd, Singapore). The company has also teamed up with TPLUS, the firm which built FHIR system of the Korean Healthcare government and has experience in medical imaging system and radiation dose management system development.

The move by HEX was in response to a challenge posed by Zhang Shouyi, an academician of the Chinese Academy of Sciences in July, urging investors to adopt a far-reaching outlook towards blockchain and its applications.

Zhang, who is also the founder of Danhua Capital, stated:

"We need to realize the power of blockchain and understand what the technology cannot do.”

This is not the first venture of investors to apply blockchain in the healthcare and medical field.

Last month, Filipino enterprise Cool Kids joined forces with a Boston-based blockchain group to improve healthcare delivery in the Philippines. Cool Kids is a collective of consultants and entrepreneurs who provide life improvement solutions through the use of emerging technologies.

The partnership allows Cool Kids to tap SimplyVital Health’s HIPAA-compatible protocol Health Nexus, which aims to identify Philippine healthcare opportunities with the highest impact.