Asia-based genomics agency Genetica and Web3 information administration agency Oasis Labs have partnered to tokenize genomics profiles with the goal to boost genomics-based precision medication.
In an announcement despatched to Cointelegraph, the companies famous that Genetica will migrate 100,000 genomic information profiles to the Oasis Network. These profiles will permit the info house owners to have full management and data of how their genetic information is getting used.
The partnership can also be backed by Vietnamese authorities officers who’re very supportive of Web3 applied sciences and information rights. According to Nguyen Chi Dung, who’s from the Ministry of Planning and Investment in Vietnam, their officers are agency supporters of Web3 and blockchain and consider that it brings true advantages to society. Chi Dung defined that:
“The technology sector in Vietnam has been continuously growing and brings practical solutions to issues such as healthcare, education, finance, and others. […] By empowering data ownership and privacy sharing, it can help drive real benefits to healthcare and precision medicine.”
Oasis Labs founder Dawn Song believes that information is “the brand new oil” and that it is crucial to develop applied sciences which might be privacy-focused and permits the accountable use of information. He thinks that “as soon as information could be considered as property, it may propel the worldwide financial system.”
Tuan Cao, the co-founder of Genetica, expressed his delight because the partnership permits them to understand one in all their objectives. “The partnership permits us to show the concept of issuing GeneNFTs to our customers a actuality,” mentioned Cao.
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Meanwhile, the EU Blockchain Observatory just lately printed a report that highlights the purposes of blockchain within the healthcare sector. According to the report, there are challenges that blockchain can repair on the way in which to what the report dubbed “Healthcare 4.0.”