Russia’s Ministry of Health has partnered with state-owned bank Vnesheconombank (VEB) for the development of a Blockchain technology-based system to be used in exchanging patient history in the healthcare industry.

The partnership could be part of the mandate by the Russian government for the creation of a new interagency data-sharing system.

According to VEB chairperson Sergey Gorkov, the bank will also be launching its “Center of Competencies” project that will further study the potential applications of the technology.

Gorkov says:

"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. 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."

More Blockchain-powered products

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

Moreover, several reports claimed that the bank is testing the use of the digital currency Ethereum for charity payments.

According to Gorkov, 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.

He notes:

"When we started to think about how to manage projects efficiently, we realized that there is no platform. We realized that the Blockchain is a good fundamental and qualitative platform for the future."