Crypto News

COVID-19 vaccination records stored on VeChain as use cases grow

The Mediterranean Hospital of Cyprus, one of the country’s largest private health facilities, is storing its COVID-19 vaccination records on VeChain — offering another compelling use case for the supply chain logistics platform. 

As of Monday, 100 doctors and personnel had received their first dose of the COVID-19 vaccine, the hospital said in a news release. The vaccinated personnel also received a digital certificate on their E-HCert App, an electronic wallet for lab results based on the VeChain Thor blockchain.

The digital certificates are “another step towards digital transformation of the healthcare industry via VeChainThor Blockchain,” the Mediterranean Hospital of Cyprus said.

In a Twitter post earlier this week, the VeChain Foundation said its technology provides governments and individuals assurances that the test results are valid.

The E-HCert App was implemented at the hospital in June. Over a three-month period between June 2020 and August 2020, the app recorded the COVID-19 test results of more than 8,000 people, according to VeChain.

In December 2020, VeChain announced that another Cyprus-based medical facility, Aretaeio Hospital, had also integrated the digital lab test wallet solution.

For all its potential use cases, VeChain has singled out healthcare as one industry primed for disruption due to blockchain technology.

According to the company, blockchain technology “represents the best opportunity to radically reshape the current paradigm and change the delivery of healthcare, test results, therapeutics, diagnostics as well as advance the process and security of information exchange between parties.”

Launched in 2018, VeChain claims to enable secure product lifecycle management by focusing on supply chain and Internet of Things protocols. The project has received strong backing from various levels of the Chinese government and has established partnerships with Walmart, BMW and LVMH, among others.

VeChain’s cryptocurrency, VET, has gained more than 20% over the past 24 hours and 56% in the past week, according to CoinMarketCap. It’s currently ranked 20th by total market capitalization with a value of around $1.95 billion.

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