Korean Firm FLETA Teams Up with Chainlink’s Oracles to Boost Medical Research Using Blockchain Technology
FLETA is to integrate its blockchain into Chainlink’s network of decentralized oracles to provide trusted data to its decentralized applications (dApps), and develop a system that allows medical professionals to more easily share health records.
Henry Hong, CEO of FLETA, said:
“Our blockchain’s scalability and the integrity of our smart contract data will be increased by utilizing Chainlink’s decentralized oracle network. Also, by deploying Chainlink’s oracle solutions, we can more easily apply blockchain technology to more varied fields in the future.”
“With Chainlink, FLETA will develop many use cases beyond health, which will lead us towards new lifestyles powered by blockchain technology.”
Daniel Kochis, Head of Business Development for Chainlink, said:
“We’re excited to integrate Chainlink’s secure and reliable oracles onto the FLETA blockchain to bring trusted real-world data to their on-chain applications.
“It’s a pleasure to be able to work with FLETA on the important health issue of bringing South Korea’s clinical health records on to the FLETA blockchain, opening up more collaborative health research opportunities.”
FLETA’s Clinical Research Data Registry Platform will be built on its native blockchain and will use real-world data supplied by Chainlink oracles. This initiative will allow doctors, researchers, and patients to upload real clinical data on-chain and help support strong medical research based on shared health records.
To reach this goal, FLETA will be using Chainlink’s decentralized oracle network to securely and reliably deliver well-validated off-chain data to smart contracts deployed on the FLETA blockchain.
The Korea-based team is also exploring Chainlink’s decentralized oracle network for practical uses to aid its high-profile partnerships such as working with the Korean government to improve medical research collaboration.
Working with Chainlink will advance its blockchain-based eCRF (Electronic Case Report Form) system, a clinical trial data management system. The eCRF system was supported by the National IT Industry Promotion Agency of the South Korean Government in 2019.
FLETA aims to be a representative blockchain platform of the healthcare industry by developing use cases based on real-world health data.
Decentralized applications often require external data existing outside the blockchain to execute successfully, for example, financial market data for decentralized finance (DeFi) applications.
Providing external data to smart contracts in a secure and reliable manner to match the security properties of the underlying blockchain is a technical challenge; often called “the oracle problem.”
After reviewing multiple oracle options on the market, Chainlink stood out across all the categories FLETA deemed most important for a strong oracle, which is the reason it chose to make it a default solution for FLETA developers.
By integrating Chainlink’s large network of decentralized oracles, FLETA can augment the value of its smart contracts while retaining their valuable security properties. Chainlink makes it much easier for FLETA developers to build use cases based on real-world data across a diverse set of markets including health, finance, insurance, and more.
FLETA is a high performance public blockchain platform giving developers all the tools necessary to build innovative products and services.
The FLETA blockchain mainnet officially launched on 11th November 2019, with the aim of unlimited scalability, low transaction fees, and lightning fast speeds. FLETA has developed its own mining ecosystem based on PoF, a new consensus algorithm developed by the FLETA team.
FLETA’s representative use cases include a blockchain-based eCRF system, blockchain-based games, and a clinical trial data management system used to prevent the manipulation of clinical trial data.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.
If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to them here! They can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or following them on Twitter or Reddit.