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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

VeChain And DNV Launch First Blockchain-based IVF Service App

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
VeChain VET

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VeChain has taken blockchain’s technology potential to a new sector in association with DNV and one of China’s most important Healthcare facilities, the Renji Hospital. The partners have launch MyBaby, a blockchain-based service app for In-Vetro fertilization (IVF).

Its objective is to mitigate the stress of this process by providing women and their families with a tool to help manage and improve the IVF process. The app allows hospitals to provide a better data management service and can help families to keep track of their babies’ development.

In addition, the app has been created to become a useful instrument to reduce anxiety, depression, and the stress associated with this process. The VeChain Foundation added:

lifting the confidence and providing emotional support to tens of thousands and more women and families during this challenging stage in their life.

In China, the In-Vetro fertilization (IVF) market is projected to surpass $2,8 billion in the next 4 years. The app is set to positioned VeChain at the center of a growing market to be worth billions and to have an active role in its development with the Assisted Reproductive Service Center of Renji Hospital.

Around 400,000 patients are treated each year at this facility and with VeChain, the hospital will embrace innovation to provide a more transparent and data security service. The VeChain Foundation added:

The delivered outcome is greater trust in data, enhanced healthcare provider decision-making, providing greater data security for all parties, and most importantly, lessening the emotional and physical burden of women and families involved.

VeChain Creates More Blockchain-based Use Cases

The app is a combination of third-party assured data verification, but with the immutability of a blockchain platform. As the VeChain Foundation revealed, all data collected related to the IVF process is stored on blockchain VeChainThor. Thus, it can only be accessed by authorized users.

They can view and track every step in such a process, from the extraction, labeling, fertilization, and scoring of the eggs and their preservation. MyBaby’s ultimate purpose is to enhance the user experience and offer key data ease a process comprised of complicated stages. At the same time, private sensitive information will be protected without the intervention of a third party.

VeChain VET VETUSDT
MyBaby’s interface. Source: VeChain Foundation

On June 2nd, 2021, representatives from VeChain, DNV, the Center for Reproductive Medicine of Renji Hospital, and the Shanghai Quality Control Center for Assisted Reproductive Technology held a ceremony and celebrated the app’s deployment. The VeChain Foundation concluded:

MyBaby clearly demonstrates the value-add public blockchain can create for daily life. This new use case exemplifies the myriad ways blockchain can be utilized in society, touching aspects of life far beyond the common perception of the scope of the technology.

At the time of writing, VET trades $0,13 with a strong recovery in lower timeframes. In the 7-day chart, VET records a 16.1% profit with a 39.9% loss in the monthly chart.

VeChain VET VETUSDT
VET shows signs of recovery in the daily chart. Source: VETUSDT Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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