Chainlink (LINK) Solutions to Fuel Health Data System, Analysts Predict LINK Price Upsurge

News
Sat, 06/27/2020 - 14:14
Vladislav Sopov
Chainlink (LINK) decentralized oracles are used for multiple blockchain-based solutions. Now, they power healthcare data storage by FLETA (FLETA) for the S.K. government.
Cover image via stock.adobe.com
Contents

Two teams have inked a partnership to advance medical data storage and transfer solutions based on FLETA's native blockchain. The new system will mostly act as an information sharing instrument for medical professionals.

Blockchain and Healthcare: Important Use-Case

According to the official announcement, Chainlink (LINK) oracles will be implemented into decentralized applications that are designed to store sensitive medical data on-chain.

Image via Twitter

Up-to-date data supplied by Chainlink (LINK) oracles will be transmitted into FLETA’s Clinical Research Data Registry Platform. This platform combines smart contracts with medical data from researchers, doctors, and students.

This initiative has officially received support from the South Korean (S.K.) government. According to Henry Kong, CEO of FLETA, this novelty will upgrade the integrity of smart contracts system, therefore, boost its usage and adoption.

Both teams are also considering the option of continuing their partnership with S.K.'s healthcare regulatory bodies. Chainlink (LINK) oracles will maintain the security and accuracy of the data exchange between on-chain and off-chain segments of medical data storage system.

LINK Price May Surge

Typically, high-tech mid-cap altcoins are subject to 'announcement pumps'. A seasoned trader, analyst, and hedge fund manager who goes by the name Koroush AK, believes that the price of LINK may follow this pattern.

Image via Twitter

According to him, the price of LINK not only escaped the correction zone (between $3.95 and $4.45) but can reach new all-times-high shortly. 

As recently covered by U.Today, LINK has already surged 11%. Its splendid rally has been put on pause by the brutal collapse of Compound Protocol Token (COMP), which made all of the altcoin bulls cautious.

At press time, Chainlink (LINK) was changing hands at $4.56 on major spot cryptocurrency exchange platforms, with a slight correction after a reaching local high of $4.8.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy