THURSDAY, March 28, 2024
nationthailand

Smart Contract expects jump in sales of healthcare blockchain solution 

Smart Contract expects jump in sales of healthcare blockchain solution 

Smart Contract Thailand expects to generate revenue growth of 150 per cent from its S-curve business by the end of this year as its blockchain solution for the healthcare industry is adopted.


Sathapon Patanakuha, managing director at Smart Contract Thailand, said the firm aims to provide the health care industry with its S-curve business, including their blockchain solution.
That solution is a health information exchange and personal health records platform using blockchain technology and designed for hospital and government healthcare organisations.
The platform, Sathapon said, could help patients, medical practitioners, as well as hospital and healthcare service providers in the areas of the Nationwide Health Information Exchange, e-referral and e-claims, universal personal health records and health literacy and awareness.
The firm has also developed an electricity distribution system based on peer-to-peer solar energy trading using blockchain technology.
The firm moreover also provides an identity management platform, tokenisation platform and smart contract management platform to support both enterprise and government markets. 
Their identity management platform offers eKYC (electronic know your customers), identity sharing, fraud prevention and consent management.
Meanwhile, the tokenisation platform is a new technology platform related to energy, bonds, shares and securities, as well as property.
With the contract management platform, the firm offers supply chain and logistics solutions to support enterprise and government markets.
“We are a local development team that developed S-Curve technologies to support the local and international market,” said the managing director.
Sathapon added that the firm is under negotiations with business partners to provide its technology solutions to support international market such as Singapore, Malaysia and Hong Kong.
The firm expects that by the end of this year it will generate a revenue increase from last year of around 150 per cent.
“Our developments are disruptive technologies, including blockchain. We also saw that emergent technologies such as artificial intelligence (AI) and robotics would change business processes and daily life for people as a whole,” said Sathapon.
IDC has also reported their expectation that spending on blockchain solutions within Asia Pacific excluding Japan (APEJ) would reach nearly US$523.8 million (Bt16.49 billion) in 2019, an increase of 83.9 per cent from the $284.8 million spent in 2018, according to the latest update of the IDC Worldwide Semiannual Blockchain Spending Guide.
Furthermore, IDC forecasts that blockchain spending in APEJ to grow at a robust pace during the 2018-2022 forecast period with a five-year compound annual growth rate of 77.5 per cent and total spending of $2.4 billion by 2022.
“Networked integrity, distributed power, value as incentive, security, privacy, rights preserved and inclusion are the seven basic design principle of the blockchain economy,” said Ashutosh Bisht, senior research manager for customer insights and analysis at IDC. “And they provide the confidence for industry leaders to accelerate their adoption of this maturing technology.
“We have reached an inflection point where implementation is moving quickly beyond the pilot and proof of concept phase for the adoption of Blockchain in APEJ,” said Bisht.
“Blockchain, which emerged out of the financial sector, is more well-established in this vertical industry. The financial sector accounts for about half of the spend throughout the forecast period.” 

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