California based HashCash Consultants is partnering with a major Pharma company, to create a Blockchain based platform for DNA sequencing for precision healthcare
HashCash Consultants is going to aid a major Pharma company with a Blockchain based platform for DNA sequencing, as part of a genome research initiative for precision drugs.
The collaboration is expected to streamline the process of sharing and recording of DNA data. It will ensure that patients and contributors have more control over their genome records and the way it is used. They are also in talks to introduce a token system for the data contributors for research of precision medicines.
Raj Chowdhury, CEO of HashCash Consultants commented to the media that, “The present structure has created a monopoly of data in a few hands, leading to unethical practices that needs to stop. The implementation of an open source, collaborative platform where publishers are in control of the data will accelerate the research and production of precision medicines, while keeping the process transparent.”
- Blockchain for Genome Sequencing and Precision Medicine:
Precision drugs, also known as personalized drugs are a contrast to the “one size fits all” approach of traditional medicines. The medicine is produced after studying the genetic makeup of an individual to provide more precise treatment. Genome studies is also the key to advanced diagnosis of diseases like cancer, AIDS, etc.
The whole idea is to provide customized treatment and medication to the patient through extensive research of the genome and that’s why there is the need for a database; however, there are two primary issues with that.
First, the access to bulk load of genomic and other healthcare datasets to gather significant information. Second, the need for that data to be shareable and interoperable across geographic, jurisdictional, technological and professional boundaries.
HashCash aims at addressing both these issues and provide a comprehensive solution through the use of Blockchain technology.
- HashCash’s Blockchain Approach for a DNA Database:
HashCash has proposed a Blockchain based platform via which the patients, health specialists, governments, researchers and providers of health technology can access the data and coordinate with each other for precision medicines.
The use of private key encryption will keep all data transactions secured creating an ecosystem of trust among the patients and contributors.
Healthcare and wellness providers will be able to access the data for advanced research. However, the private key security provided by HashCash will keep the control of the data in the hands of the contributors.