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ICONLOOP Launches Blockchain-based ‘Lifelong Healthy Life’ Service in Beta

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Doctor presses button blockchain currency on virtual electronic user interface.

Blockchain’ technology is set to play a key role in the new Lifelong Healthy Life service that launched in beta on Friday. The service, based on the ICONLOOP blockchain and developed in support with LifeSemantics Co. and Kyobo Life Insurance Co. The new service predicts diseases by using algorithms based on previously available healthcare data.

A New Project in Healthcare

The Lifelong Healthy Life service depends on a disease prediction algorithm fed with health care and pre-health check data. It forecasts risk for diseases over a period of three years and provides both a comparative analysis of the situation as well as the insurance coverage for the same. The coverage data is checked against the actual risk data available at insurance providers.

It intends to create a bridge between digital healthcare, InsureTech, and blockchain technology to implement an empirical model. It digresses from the existing insurance coverage analysis system by measuring future health risks based on current insurance data to help provide the most reasonable and affordable healthcare to users.

The creators of the projects ICONLOOP, Kyobo Life and LifeSemantics formed a consortium in May this year. ICONLOOP is also an entitled business partner for the “FinTech Demonstration Project 2018” by the Korea Internet & Security Agency (KISA) and the Ministry of Science and Information Technology and Communication (MSIT).

Healthcare Use Case for Loopchain

ICONLOOP’s loopchain will form the basis of this blockchain-based new service. The blockchain engine can be customized by developers, allowing differentiated permission settings across all nodes participating in the blockchain. It also responds to compliance and various tasks. According to Kyobo Life, loopchain has successfully presented its blockchain finance platform. Its service will now scale into the Life Record management system.

ICONLOOP CEO J.H. Kim commented on the scaling plans of the project, saying:

“We plan to expand our blockchain authentication system so that the InsureTech businesses based on disease prediction data infrastructure could be operated with security and derived services can be released at the same time.”

He added that the project aims to “hyperconnect” with heterogenous blockchains using the ICON smart contracts, which will help in broadening the scope to “first-class medical data management.”

ICONLOOP Launches Blockchain-based ‘Lifelong Healthy Life’ Service in Beta was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.