Russian Health Ministry Explores Blockchain

Announcements, Blockchain, Innovation, News, Regulation | August 14, 2017 By:

The Russian Ministry of Health has partnered with Vnesheconombank (VEB), a Russian government-owned development bank, to explore possible uses of blockchain technology.

VEB and Health Ministry will examine how blockchain could be used to exchange patient history. According to VEB, the government has also issued a mandate to create a new inter-agency data-sharing system. In addition, VEB is launching a “Center of Competencies” through which it will study possible blockchain applications.

“The center will engage in the development of private blockchain using the concerted efforts of the VEB team and an international professional team capable of accomplishing the tasks set by the Ministry of Health,” said VEB chairperson Sergey Gorkov. “In its turn, the Ministry is to define areas of blockchain application. To ensure greater consistency of work, we invite the Ministry of Health to join the blockchain working group.”

VEB is also planning to create a host of products and services that are built around blockchain. These will be focused in the fields of project management and supply chain finance.

Gorkov said that the main driving factor in their efforts to study the feasibility of blockchain technology is the need to modernize their operation. He added that the technology is a good basic and qualitative platform to start with.

“When we started to think about how to manage projects efficiently, we realized that there is no platform,” he said. “We realized that the blockchain is a good fundamental and qualitative platform for the future.”