South Korean government picks FLETA for blockchain proof of concept

Photo by Valery Rabchenyuk

FLETA was selected as a project conductor of blockchain proof of concept (PoC) supported by the Ministry of Science and ICT (MSIT), South Korea and National IT Industry Promotion Agency (NIPA). 

With the support of the government, FLETA will develop this year a blockchain-based clinical data management system (ePRO System). After this, the company will perform pilot tests with The Catholic University of Korea and The Catholic University of Korea Seoul St. Mary’s Hospital in order to verify the performance, marketability and usability of this clinical data management system.

Using this opportunity with its serviceable business model, FLETA will accelerate its business expansion in clinical research and health care industry.

By applying FLETA’s own blockchain technology, the company plans to improve credibility and accuracy of the data management as well as its fee structure.

“This on-chain project is very challenging since every clinical data is input and managed on the distributed ledger system, under the objectives to enhance credibility and accuracy of the data,” FLETA CEO Paul Park said.

“As we are supported by the government as a project conductor of blockchain PoC, FLETA will make full efforts to establish the successful use case about the data collection and management in health care and clinical research industry,” Park said. 

He added that the goal of FLETA blockchain is to become a blockchain platform that is actually used in real-world businesses.

“Through this opportunity, we are aiming to become a leading blockchain company which leads technology commercialisation,” he said. 

In March 2019, the ministry and NIPA announced a government-funded programme for 10 companies and/or organisations that can conduct blockchain PoC, under the objectives to foster blockchain technology innovation while supporting international expansion of promising blockchain companies. The total budget for this programme is approximately $4.4 million.