VeChain takes the technology potential of blockchain into a whole new arena In collaboration with DNV and Renji Hospital, one of China’s most important health facilities. The partners have launched MyBaby, a blockchain-based service app for in-vitro fertilization (IVF).
It aims to reduce the stress of the process by providing women and their families with a tool to help them manage and improve the IVF process. The app allows hospitals to provide better data management service and can help families keep track of their children’s development.
Furthermore, the app has been created to be a useful tool for reducing the anxiety, depression and stress associated with the process. VeChain Foundation couple:
Providing confidence building and emotional support to thousands more women and families during this challenging phase of their lives.
In China, the in-vitro fertilization (IVF) market is estimated to cross $2.8 billion in the next 4 years. App is set to position VeChain Billions to be at the center of a growing market and play an active role in its growth with Renji Hospital’s Assisted Reproductive Services Center.
The facility treats approximately 400,000 patients every year and with VeChain, the hospital will embrace innovation to provide a more transparent and data security service. VeChain Foundation added:
There is greater confidence in distributed outcome data, enhanced healthcare provider decision making, providing greater data security for all parties, and most importantly, reducing the emotional and physical burden of women and families.
VeChain creates more blockchain-based use cases
The app is a combination of third-party assured data verification, but with the immutability of a blockchain platform. As revealed by the VeChain Foundation, all the data collected related to the IVF process is stored on the blockchain VeChainThor. Thus, it can be accessed only by authorized users.
They can observe and track every step in such a process from egg extraction, labelling, fertilization, and scoring and their preservation. The ultimate objective of MyBaby is to enhance the user experience and offer critical data to ease the complex step-by-step process. Also, private sensitive information will be protected without interference from any third party.
On 2nd June 2021, VeChain, DNV . representatives of, Renji Hospital’s Center for Reproductive Medicine and Shanghai Quality Control Center for Assisted Reproductive Technology held a ceremony and celebrated the deployment of the app. The VeChain Foundation concluded:
MyBaby clearly demonstrates the value-added public blockchain can create for everyday life. This new use case exemplifies the myriad ways blockchain can be used in society, touching on aspects of life far beyond the common perception of the realm of technology.
while writing, VET trades at $0.13 with a strong recovery in the lower time frame. On the 7-day chart, VET posted a 16.1% gain with a 39.9% loss in the monthly chart.