FLETA selected as a project conductor of blockchain PoC

A blockchain platform FLETA announced on 18 June that the company was selected as a project promoter of blockchain PoC supported by the Ministry of Science and ICT (MSIT), South Korea and National IT Industry Promotion Agency (NIPA).

FLETA conveyed that it would develop a blockchain-based clinical data management system. By applying FLETA’s own blockchain technology, the company plans to improve the credibility and accuracy of the data management. There was also an effort to improve its fee structure. After FLETA develops the system this year, the company will perform simulation tests with The Catholic University of Korea and The Catholic University of Korea Seoul St. Mary’s Hospital.

Paul Park, FLETA CEO, cited –

“This on-chain project is very challenging since every clinical data is input and managed on the distributed ledger system, under the objectives to enhance the credibility and accuracy of the data. As we are supported by the government as a project conductor of blockchain PoC, FLETA will make full efforts to establish the successful use case about the data collection and management in health care and clinical research industry.” He also added, “The ultimate goal of FLETA blockchain is to become a blockchain platform that is actually used in real-world businesses. Through this opportunity, we are aiming to become a leading blockchain company which leads technology commercialization.”

FLETA added that it is a blockchain platform based on its original technologies such as Level Tree, Independent multi-chain Structure, Block Redesign, Parallel Sharding, and PoF (Proof-of-Formulation). FLETA further added that in addition to solving problems related to slow speeds and scalability limits, the company develops the FLETA Gateway network. This network allows existing decentralized apps to use FLETA’s service.

In February, SWIFT reported in their portal, the launch of a proof-of-concept (PoC) gateway that could connect e-commerce and trade platforms. Christened global payments innovation or gpi/gpi Link for short, this could well be the new standard in cross-border payments. GPI Link would be able to seamlessly connect multiple trade platforms to its members, facilitate end-to-end payment tracking, enable payment initiation, credit confirmation, and payer authentication.

FLETA wrapped up by informing about its key industry initiatives. FLETA is a public blockchain platform with business and technology support services to blockchain projects. FLETA noted that it was dedicated to cultivating the most developer-friendly environment while being more scalable, efficient and cost-effective. FLETA has broad aims to accelerate the mass adoption of blockchain technology.