VeChain Proves Blockchain’s Real-World Potential in Renji Hospital Partnership

• The 2021 collaboration between the Renji Hospital and VeChain to build a smart care medical project (MyBaby) has been highlighted in the latest Xinmin weekly report.
• This groundbreaking initiative underscores VeChain’s limitless expansion and several use cases across different fields.

VeChain (VET) makes a groundbreaking appearance in a Xinmin weekly report. In the article that highlighted how smart hospitals are undergoing transformation and upgrade, the strategic partnership between the blockchain company and Renji Hospital (an affiliate of the Shanghai Jiaotong University School of Medicine) was referenced.

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The MyBaby Project

The article mentioned the launch of the smart medical care project dubbed MyBaby, which became the first “blockchain-based In-Vitro fertilization (IVF) Service Application” in the world. The combination of the professional assurance services of DNV and the advanced blockchain technology of VeChain empowers the project to enable the verification of crucial steps of IVF. In addition to that, it ensures that MyBaby provides private, exclusive, and end-to-end data access for prospective parents who undergo treatment.

Reviewing the information captured in the Xinmin weekly newsletter, we discovered that the project has actively assisted in the seamless transmission of image data of embryo culture to patients via the Internet hospital platform. In this case, a unique code of the file is stored on the VeChain blockchain.

Specifically, MyBaby enables users to view and extract, label, as well as score fertilized eggs coupled with the cultivation and preservation of embryos. With this, the problem associated with the privacy of medical data is reduced by limiting the number of intermediaries between the production and the delivery of data.

More About the VeChain and Renji Hospital Partnership

Further analyzing the article, we also observed that the “blockchain-based medical alliance distributed electronic medical record sharing project” has subjected the practices of the Renji Hospital to a considerable upgrade. Through this partnership, the blockchain-based medical alliance service-sharing platform has effectively ensured that consultation, referrals, follow-ups, and other related services are rendered without challenges.

In the report digested by CNF, an agreement on further cooperation was also signed by Renji Hospital and VeChain. At that time, the Director of the Center for Reproductive Medicine of the Hospital Sun Yun, commended the collaboration and outlined the merits.

The combination of assisted reproductive medicine and blockchain technology creates incredible chemistry, making Renji Hospital the first in its line to probe such innovation. We will be offering more trustworthy, private, secured services.

Fascinatingly, China’s IVF market is expected to surpass $2.8 Billion by 2025. With the growing demand, this collaboration could position Renji as one of the most advanced and high-quality IVF providers in Asia. At the time of the cooperation, the hospital was treating about 400,000 outpatients annually.

According to the co-founder and CEO of VeChain Sunny Lu, his blockchain would continue to provide a cost-effective and advanced platform to the medical world to create a “multi-party digital future.” This is evident in our February report which disclosed that VeChain has expanded its partnership with Renji Hospital to build a Digital Intelligent Cloud Tumor Center.

We continue to see an increase in opportunities in our partnership with Renji Hospital, thanks to our unique approach of ‘blockchain + data quality assurance’ model alongside key strategic partner DNV.

At press time, VET was trading at $0.0043 after surging by 33% in the last 24 hours.