Genetica is tokenizing 100,000 genomic data profiles on the Oasis Network to ensure privacy and control over their use.
Genetica, a leading genomics company in the Asia-Pacific region, has partnered with Oasis Labs, developing technologies for decentralized Web 3.0 data management. This was reported by the Oasis Foundation on Medium.
The collaboration will result in a decentralized service for collecting and analyzing genomic data stored in a tokenized form. Using the service, users will be able to retain control over their genomic data while being rewarded if their data is used in medical research. All data will be kept private.
To date, Oasis has allowed 30,000 genomic profiles to be tokenized. The experiment is expected to bring the total number of tokenized profiles to 100,000. This kind of solution, where medical data is stored and analyzed using Web 3.0 technical solutions, is the first of its kind. The results of this project are expected to globally transform the healthcare industry. According to Nguyen Chi Dung, a representative of the Vietnamese government, the country has seen rapid growth in high-tech investments and significant progress in innovative technological developments. Recall that in March 2022, the Vietnamese government is working on a regulatory framework for the cryptocurrency market.