- The platform BelYo to track and save key COVID-19 metrics of individuals from symptoms to vaccination
- Two Bengaluru-based start-ups along with IIIT - funded by Mphasis Foundation - developed the platform
- BelYo could be easily retrieved by apps like Aarogya Setu using software tools
- To onboard ICMR-approved 730 government labs and 270 private labs by August 2020
- Targeting $200 million in revenues within 5 years
BelfricsBT and YoSinc, two blockchain technology start-ups, with the support of the Indian Institute of Information Technology (IIIT), Bengaluru and with funds from the Mphasis Foundation, have developed India's first COVID-19 blockchain platform 'BelYo' to digitise COVID-19-related clinical data for analysis and to track patients in the country.
BelYo uses the BelfricsBT Belrium blockchain platform to convert COVID-19-related clinical and vaccination data of citizens, currently from the physical form, into digital assets which can be retrieved by any contact tracing apps like Aarogya Setu using software tools. An individual can scan and retrieve data (color-coded results) through a QR code and the process would be 100 per cent contactless and seamless, claimed the company sources.
Currently, the platform is being tested at a few clinics to track details of their COVID-19 tests that are being conducted. The platform aims to reach out to the Indian Council of Medical Research (ICMR)-approved 730 government labs and 270 private labs to collect data starting from second week of August.
Praveenkumar Vijayakumar, founder & CEO of Belfrics said BelYo plans to issue certificates for COVID-19 clinical records and immunisation certificates on blockchain at a cost of less than Rs 20 and once the vaccination record of citizens reaches a critical mass, the easy recording and retrieving of such data will become vital for government health and vaccination programmes.
"We would be able to expedite our platform roll-out, expand our operations and onboard testing centers (hospitals and private labs) by the end of 2020. BelYo is looking at 5 per cent market share by 2023 of the total 1 lakh-plus clinical labs in India, which would help us reach a gross revenue target of $200 million within five years," he said.
Prof S. Sadagopan, Director-IIIT, Bengaluru said BelYo would be able to simplify the tracking of all the COVID-19 patients in India - from symptoms to vaccination certificate in a decentralised manner, without compromising on the privacy of the data. The IIIT had initiated a COVID-19 challenge "Setu Bhandhan" in association with Mphasis to support IIITB's startups with research and funds and BelYo development is part of the project, he said.