VeChain (VET), DNV, & Renji Hospital Launch Blockchain-Based IVF System
The Vechain (VET) team and DNV have joined forces with Renji Hospital to launch blockchain-enabled In-Vitro fertilization (IVF) solution dubbed MyBaby. The team claims MyBaby is designed to bring transparency, foster data security, and more, in the IVF process, according to a blog post on June 2, 2021.
VeChain-Powered IVF Solution Launched
Renji Hospital, a highly reputed Chinese hospital affiliated with the Shanghai Jiaotong University School of Medicine, in collaboration with VeChain (VET) and DNV, has developed a distributed ledger technology (DLT) powered In-Vitro Fertilization (IVF) solution called MyBaby.
As stated in a blog post by the team, the VeChainThor-powered MyBaby IVF system is designed to enhance the entire IVF process by fostering transparency, secure medical data management, and more.
According to experts, the Chinese IVF ecosystem has been booming in recent years and it is expected to exceed $2.8 billion by 2025. Now, the team firmly believes that with the integration of DLT into Renji Hospital’s IVF processes, it would become the most advanced provider of IVF medical services in the whole of Asia.
VeChain (VET) Making Life Easier
Commenting on the launch of the innovative MyBaby IVF system, Sun Yun, Director of the Center for Reproductive Medicine of Renji Hospital reiterated that the integration of blockchain technology into reproductive medicine unlocks a whole new world of possibilities.
“The combination of assisted reproductive medicine and blockchain technology creates incredible chemistry, making Renji Hospital the first in the industry to probe such innovation. We will be offering more trustworthy, private, secured services,” he said.
Notably, the team claims that aside from tamper-proof data management, the MyBaby solution makes it possible for families to clearly see the development of their unborn child, thereby helping them to reduce anxiety, depression, and stress associated with IVF.
What’s more, the team says MyBaby enables the verification of vital steps in the IVF cycle, as all necessary information, imagery, and data trails, from the beginning of the IVF process down to the delivery of the baby, will be securely stored on VeChainThor and accessible to only authorized persons.
VeChain (VET) has been keeping its promise of promoting blockchain adoption globally by creating real-world use cases the revolutionary technology.
Last October, BTCmanager informed that the Renji Hospital chose VeChainThor as its preferred blockchain to power its intelligent tumor center.
More recently, the VeChain Foundation announced earlier in April 2021, that it has set aside $1 million for the development of the eNFT ecosystem.
At press time, the price of VeChain’s native cryptocurrency VET is exchanging hands for $0.1279, with a market cap of $8.28 billion, as seen on CoinMarketCap.