Malaysia-based startup VisionBanker Pte Ltd recently announced plans to raise US$10 million through a token sale on its blockchain-backed platform, as the firm seeks to tap into the Asian eye care market.

As reported by SiliconANGLE, VisionBanker is deploying facial recognition and distributed ledger technology to change how vision patients and eyeglass consumers store and secure their health information.

Storing Eye Health Data on the Blockchain 

The company has developed a blockchain network which enables patients to store their eye health data following a visit to an optometrist. This data can in turn be privately and securely revisited, such as when switching providers or looking to purchase eyewear. 

The system also encourages users to follow up with vision care providers by offering tokens that can be used for discounts on related products.

The VisionBanker application will also feature advanced facial recognition software, provided by Microsoft Corp and NEC Corp, that will be able to map the contours of faces and eyes in order to provide better-fitting glasses. 

Developing the Network and Reaching Out

The startup was founded last year by SpecTruck, a Malaysian mobile optical concept stall serving block urban and rural communities in order to bring eye care services to underserved populations. 

VisionBanker plans to use the influx of new funds to further develop its blockchain network, launch its facial recognition app and expand its user base. The firm will open its platform for users by 2020, with an initial regional focus on Southeast Asia.

Growth targets include collecting as much as US$12 million in revenue and growing to US$60 million within five years using a subscription-based model. 

Source: siliconangle.com

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