The team at VeChain is pleased to share an update about their newest strategic partner, Vyvo Smart Chain (VSC), as they join forces in pursuit of a common vision to promote better health outcomes and sustainable human development.
Vyvo Smart Chain, backed by the VSC Foundation, is described as “a purpose-built blockchain aimed at revolutionizing the way we monetize healthcare data.” VSC is building the first heartbeat-powered ecosystem “that rewards and promotes individual health by empowering users to take more healthy lifestyle choices.”
Introducing Vyvo Smart Chain: A HealthFi Ecosystem
The Vyvo Smart Chain is “a recently launched purpose-chain that aims to promote positive lifestyle habits through health data monetization.” Vyvo Smart Chain leverages proprietary smartwatch technologies “to generate user data, roughly 45TB to date, and is in the process of building a bespoke platform for health information trading and monetization.”
According to recent statistics, global ownership of smartwatches is “estimated to be at 216 million in 2023, with an additional 1.1 billion IoT devices generating health data daily.”
This burgeoning industry provides “a unique opportunity for Vyvo to disrupt a fast-growing industry, and leverage vechain’s technical expertise and acumen to support their growth journey.”
Fabio Galdi, CEO of Vyvo Smart Chain, said:
“Vyvo Smart Chain believes strongly that people should own their own health data and its value. We are thrilled about our strategic integration with vechain, whose reputation and industry-leading standards open a world of possibilities for Vyvo Smart Chain. Together, we aim to foster a thriving community of users who can choose the blockchain that works best for them.”
Vyvo Smart Chain will launch VIP-180 versions of its native tokens $VSC and $USDV as well as smart contracts within the vechain ecosystem to promote cross-chain utilization.
Aligned Visions on Health and Sustainability
‘Good Health and Well-being’ is the UN’s third Sustainable Development Goal, “aligning the partnership with our own vision of building an equitable, healthier future for global society.”
Galdi added:
“We’re aiming for a paradigm shift. We are creating an ecosystem that not only rewards users but also gives them complete control over their data. In an era where data has become a valuable asset, our alliance with vechain ensures that it remains secure and provides monetary benefits for users wishing to capitalize on their own health information.”
A new Era For Healthcare – And Beyond
Vechain and Vyvo Smart Chain are “forging a new path with the intent of disrupting the health tech industry.”
Data is the new oil, it will only “become more valuable over time.” With health techonly continuing to rise, this partnership “unlocks new value creation vectors, and delivers new ways for individuals to achieve self-empowerment.”
This is only phase one of their collaboration with Vyvo Smart Chain. They have other exciting use cases and application scenarios “to explore in future tech releases.”
As noted in the update, Vyvo Smart Chain is “a newly released purpose-chain. VSC is a HealthFi ecosystem built on Vyvo Smart Chain and supported by the VSC Foundation which promotes and rewards positive lifestyle habits through health data monetization while ensuring data privacy. VSC strongly believes that people should own their own health data and its value.”
As covered, Vechain, headquartered in San Marino, Europe, is “the curator of VechainThor, a world leading smart contract platform spearheading the real world adoption of blockchain technology.”
Through leveraging the capabilities of ‘trustless’ data (information without intermediaries), smart contracts and IoT technologies, VechainThor has “enabled solutions across a wide array of fields.”
Vechain now turns its attention “to the greatest challenge of all – building digital ecosystems to drive sustainability and digital transformation at global scale.”