Life Clips’ BelfricsBT extends the BelYo Blockchain dApp beyond
AVENTURA, Fla., Jan. 31, 2022 (GLOBE NEWSWIRE) — Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) today announced that its subsidiary BelfricsBT has extended its BelYo blockchain product from issuance from the vaccination certificate to handle a wider range of health industry data.
BelYo is the first decentralized application (dApp) that Belfrics has launched in collaboration with the startup YoSync of the International Institute of Information Technology Banagalore (IIIT-B), to help the health industry to issue and manage COVID test certificates and vaccination certificates using blockchain technology. The goal of the BelYo platform is to enable seamless interoperability of health data while protecting individuals against surveillance, discrimination, fraud and exclusion, where the data created is secure, accessible and private. The data will be encrypted and only the necessary information will be shared through the blockchain network where only the authorized recipient can access the information. BelYo’s DApp is built on the Belrium network, a patented KYC-compliant hybrid blockchain.
BelYo was originally developed by Synk Labs Pvt Ltd and BelfricsBT Sdn Bhd for a Covid19 challenge initiated by IIIT-B and supported by a grant from the Mphasis Foundation. The use of Blockchain technology, an encrypted digital ledger, allows healthcare systems to collaborate securely between network users.
The protection and limitation of patient health data is currently one of the main concerns when bringing AI-based health products to market. In 2022, Belfrics management believes that blockchains will begin to play an important role in ensuring data privacy in the healthcare sector, for building machine learning models and AI inference.
CEO and Founder of Belfrics, Praveen Kumar, said: “The Covid19 registrations were just the start of BelYo’s potential in the healthcare industry. The industry must accelerate its use of Blockchain technology to protect health data.
According to a recent report by Vantage Market Research, the global blockchain in healthcare market size is expected to reach USD 1,189,800,000 by 2028, growing at a compound annual growth rate (CAGR) of 61.3% in during the forecast period. Rising healthcare data breach cases, the threat of counterfeit drugs, and the growing acceptance of blockchain as a service, coupled with the transparency and immutability of distributed ledger technology, are factors. major ones that are fueling the growth of the market.
CEO and Founder of Belfrics, Praveen Kumar continued, “BelYo is our healthcare dApp that can be used for any healthcare service that involves identity or document management. of patients, patient identification, health profession certificate, vaccination records can all be issued using the BelYo platform.The platform is scalable and customizable to any of the above requirements Since it is a blockchain-based solution and uses our Belrium blockchain, the records are securely stored by the respective hospitals and yet they can be owned and shared by patients with full control. Datas.”
Blockchain can also solve interoperability issues. It has the ability to not only authenticate identity, but also authorize access and maintain a secure infrastructure for electronic health information. This is a very effective solution for data privacy, since the data is owned by the user in their blockchain digilocker. The user can give his consent to share his data and the recipient is able to use the data he receives only for the purpose for which it is intended.
In this regard, Blockchain technology would be able to provide a more efficient way to exchange data between hospital systems, which would result in greater efficiency. Increased efficiency could reduce health system costs and provide more accurate diagnoses to patients. Data such as drug origins and clinical trial data can be analyzed using blockchain technology, helping hospitals determine drug dosage and quality, while ensuring the accuracy of clinical trial data .
Robert Grinberg, CEO of Life Clips, said, “Web3.0 is characterized by Internet services and mobile applications rebuilt on decentralized blockchain technology. Emerging technologies such as cryptocurrency, DAOs, digital assets such as NFTs, and metaverse rely on blockchain-based digital assets. . When we do not own our data, it means that our data can be sold or used against us. Also, if we don’t own our accounts, they can easily be terminated for any reason. Going forward, we will own our data, and have free permission to use it and pay for the assets. It is a step towards personal freedom.
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian blockchain and cryptocurrency exchange and platform provider that is authorized and regulated by the Labuan Financial Services Authority ( LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-function trading platform offers digital assets, cryptocurrencies and crypto derivative contracts to its clients. The Belfrics blockchain has been recognized by Gartner as one of the top 10 blockchains in terms of actual projects and has been awarded a patent for its Belrium KYC Verification System (BKVS) by the Nigerian Patent Authority. Cognitive Apps is disrupting the mental health space with its speech-based, AI-powered mental health analytics platform that enables businesses to measure, understand and improve mental wellbeing of their employees, patients and customers. Aiki offers CBT and IPT therapies using a chatbot that includes the voice analysis solution that takes into account other health data from Apple and Google HealthKit to perform a more accurate analysis of his mental health . Aiki was developed to capitalize on the trend towards artificial intelligence platforms being used by individuals and businesses to raise awareness about employee mental health. Cognitive Apps is developed by a team of licensed psychotherapists who use voice biomarkers to screen for early signs of mental health issues, such as stress and depression. Aiki is available on the Apple App Store.
For more information on Life Clips, visit www.lifeclips.com
For more information on Belfrics Global, visit www.belfricsgroup.com
For more information on cognitive apps software solutions, visit https://cogapps.com
Disclaimer of Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be prefaced by the words “intends”, “may”, “will”, “expects”, “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified and, therefore, actual results may differ materially from those expressed. or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and development efforts; (ii) the Company’s ability to advance its products to complete their development and commercialization; (iii) the manufacture, development, marketing and market acceptance of the Company’s products; (iv) lack of sufficient financing to fund product development and commercial operations; (v) competitive businesses and technologies within the Company’s industry and the introduction of competing products; (vi) the Company’s ability to establish and maintain business collaborations; (vii) loss of key management personnel; (viii) the extent of protection the Company is able to establish and maintain for the intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential non-compliance with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) difficulty in predicting government actions and regulations. Any forward-looking statements included in this press release speak only as of the date of this press release. The Company undertakes no obligation to update any written or oral forward-looking statement, except as required by law.
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