Vietnam Telecom Firm Launches Blockchain Powered Database for Hospitals

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Vietnam Telecom Firm Launches Blockchain Powered Database for Hospitals

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Vietnam’s largest telecom company has claimed to have produced a blockchain filing system that will revolutionize medical care in that country.

The country, one of South East Asia’s sleeping tigers is hoping that blockchain can lift its fintech stature with the latest innovation designed for use in the healthcare sector.

Viettel Enterprise Solutions Corporation, a company that aspires to become Vietnam’s leader in blockchain technology, has come up with the blockchain solution for medical file management which is designed to reduce administrative costs. Viettel’s Deputy General Director Ngô Vĩnh Quý, explains that the company is fully prepared for embracing new streamlining technologies such as DLT:

“Viettel has the financial resources, human resources, network infrastructure, huge data centre, research and development facilities, large internal environment, and other advantages to learn and apply blockchain technology.”

Phạm Ngọc Sơn, director of the Core-technology Centre, is quoted suggesting that hospitals connecting to Viettel’s database could save the government huge amounts of money, arguing, “Every year Vietnam spends VNĐ2.3 – 2.5 trillion (US$100 -110 million) for patients to do medical tests again when they move from one hospital to another.”

The new system is not limited to connecting hospitals to a blockchain backed database, but also to other departments such as the Ministry of Health, provincial health departments, and medical insurance companies.

The blockchain/crypto space in Vietnam has had a chequered time over the past year with mining scandals and fraudulent ICOs leaving investors with huge losses of funds. Last year, Vietnam announced that it was considering a legal framework for the management of cryptocurrencies due to their increased popularity in the country. These moves have been reflected in other Asian countries in order to alleviate the risks of fraud.

Recently Reuters reported that Prime Minister Nguyễn Xuân Phúc had instructed the State Bank of Vietnam to cease allowing financial services that relate to cryptocurrency. The directive included measures to counter money laundering and counter terrorist activity through cryptocurrency.

What the country now needs to see is successful blockchain solutions introduced into areas where Vietnam needs it most: this latest move may be a good start on the road to improving new technologies image in the country.

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