- FLETA will develop a blockchain-based ePRO system for clinical data management, featuring enhanced credibility and accuracy of the data.
- The system to be developed with the on-chain technology, putting all the clinical trial data on a blockchain.
- The system's performance, marketability, and usability will be validated through pilot tests in cooperation with The Catholic University of Korea and The Catholic University of Korea Seoul St. Mary's Hospital.
SEOUL, South Korea, June 18, 2019 /PRNewswire/ -- A blockchain platform FLETA announced that the company was selected as a project conductor of blockchain PoC supported by the Ministry of Science and ICT (MSIT), South Korea and National IT Industry Promotion Agency (NIPA).
Under this support by the ministry and NIPA, FLETA will develop a blockchain-based clinical data management system (ePRO System). 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. After FLETA develops the system this year, 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. Utilizing this opportunity with its serviceable business model, FLETA will accelerate its business expansion in clinical research and health care industry.
Paul Park, FLETA CEO, said, "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. 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." He also added, "The ultimate 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 commercialization."
In March 2019, the ministry and NIPA announced a government-funded programme for ten companies and/or organizations that can conduct blockchain PoC, under the objectives to foster blockchain technology innovation while supporting international expansion of promising blockchain companies. This programme also aims to promote the real-world application of blockchain and provide the milestone of commercialising a blockchain-based service model through the PoC process and feasibility tests of business and technology. According to the announcement of the NIPA, total budget for this programme is approximately USD 4,400,000 (KRW 5.2 Billion).
FLETA is a blockchain platform based on its original technologies such as Independent multi-chain Structure, Block Redesign, Level Tree, Parallel Sharding, and PoF (Proof-of-Formulation) which is its own consensus algorithm. In addition to solve problems related to slow speeds and scalability limits, the company develops the FLETA Gateway network which allows existing DApps to use FLETA's service chain which is both faster and cheaper, staying in their mainnet for exchange purposes.
FLETA has released its source code on the GitHub in March 2019. Developers interested in FLETA can find its source codes on Github.
FLETA is a public blockchain platform with technology and business support services to blockchain projects. Dedicated to cultivating the most developer-friendly environment with more scalable, efficient and cost-effective, FLETA aims to accelerate the mass adoption of blockchain technology. Its core technology includes Independent Multi-chain structure, Block Redesign, LEVEL Tree validation, parallel sharding, and its own consensus algorithm Proof-of-Formulation (PoF).